Car haulers insurance, also known as auto transport insurance, is a type of insurance coverage designed specifically for businesses that transport vehicles from one location to another. Car haulers are responsible for transporting cars, trucks, motorcycles, and other types of vehicles on open or enclosed trailers.
Car haulers insurance provides coverage for a range of risks and potential losses that can occur during the transportation process. Here are some key aspects of car haulers insurance:
Liability Coverage: This type of insurance protects car haulers from third-party claims for bodily injury or property damage caused by their operations. It covers the costs of legal defense and any settlements or judgments if the car hauler is found responsible.
Cargo Coverage: Cargo insurance covers the vehicles being transported. It provides protection against damage or loss to the vehicles in the event of accidents, theft, vandalism, or natural disasters. This coverage is particularly important as vehicles being transported can have substantial value.
Physical Damage Coverage: This coverage is for the trailers and equipment used by car haulers. It protects against damage or loss caused by accidents, collisions, theft, or other covered perils.
General Liability Insurance: In addition to liability coverage specific to car hauling operations, general liability insurance provides broader coverage for other potential risks, such as slip and fall accidents at the business premises or damage caused by advertising.
Garage Keepers Insurance: This coverage is relevant for car haulers who offer storage services for vehicles. It protects against damage or loss to vehicles stored at the business premises.
Workers' Compensation Insurance: If a car hauler has employees, workers' compensation insurance is typically required by law. It provides coverage for medical expenses, lost wages, and rehabilitation costs for employees who are injured on the job.
It's important for car haulers to carefully assess their insurance needs and work with an insurance provider specializing in commercial auto coverage. The specific coverage and premiums will depend on factors such as the size of the business, number of vehicles transported, the value of cargo, and the safety record of the company.
It's recommended to consult with an insurance professional to understand the specific insurance requirements and options available for car haulers in your region.