So you have questions about box truck insurance, or other
commercial auto insurance near me, in Los Angeles or
any part in California for that matter, we have answers.
Box truck coverage has many layers of coverage and insurance regulations.
They are ever changing and you want to always make sure to followup
with your state and federal laws so there is no job interference.
Special regulations apply to commercial carriers of both passengers and cargo.
This is because of the risk of common carrier accidents.
This can be enormous to the insurance reserve of the
company if a catastrophic loss of events should occur.
Commercial Auto Insurance Requirements?
To protect the interest of the general public, state and federal laws
have created minimum financial responsibility requirements.
These requirements are applied for commercial carriers.
These requirements may be met by purchasing coverage or obtaining a surety bond.
This would guarantee payment in the
amounts that at least equal to the minimum limits.
Self Insured Policy Coverage
In some cases, full or partial self coverage may be permitted.
This of course is, if the carrier provides the necessary financial data
to demonstrate the ability to fully or partially self-insure.
Federal rules do exist for common carriers which were established
by the Motor Carrier Act of 1980, which actually took effect in 1981.
It has since been amended to increase the financial responsibility limits required.
Enforcement of the requirements falls under the jurisdiction
of the Department of Transportation.
The General – Required State Coverage
The required coverage is designed to pay for “public liability” however.
Moreover, it does not apply to injuries to the Carrier’s employees or loss of the cargo being carried.
This would fall under a workers compensation policy.
Insurance policy overage is usually obtained by attaching an endorsement form to a policy.
This add on is, providing commercial vehicle or truckers coverage.
This endorsement has been developed by the Department of Transportation,
and not all carriers are willing to provide it.
Direct Box Truck Insurance
Now if you are like most truckers, you probably need to
purchase your policy directly through a provider.
We are the leader in providing specialized insurance commercial truck for:
- Owner Operators
- Trucking Companies
- Small and Large Fleets
- All box truck sizes and types
What is a Commercial Box Truck?
These policies have separate, box-like (cube shaped) cargo areas
that sit on the frame, ranging from 14 feet to 24 feet in length.
The box is usually separate from the cab and is not accessible from the cab.
Most vehicles have a roll-up rear door that’s similar to a garage door.
Typically used to haul large items such as furniture, appliances and large boxes.
Frequently used as rental moving vans by companies like U-Haul and Ryder.
- Sometimes referred to as cube trucks, cube vans, bob trucks and box vans.
A box truck is sometimes mistakenly called a cargo van.
- Makers are GMC, Ford, International, Mitsubishi Fuso, Hino (Toyota), Isuzu, etc.
After the purchase of your policy, you will receive a policy declaration page.
This page will consist of several parts which include:
- One or more vehicle declarations forms
- One or more vehicle coverage forms
- Any endorsements that may apply
- Special vehicle coverage forms
Varied Policy Coverage
These different coverage forms have been created for
varying types of commercial automobile exposures.
A policy may include one or more the following:
- Business Vehicle Coverage Form
- Garage Coverage Form
- Truckers Coverage Form
Two Insurance Policy Variations
These two variations of the business vehicle coverage form are available for special types of risk.
- The garage coverage form is used to insure garage risk,
- such as service and repairs shops,
- which have a premises – operations exposure and have a temporary possession of their customers vehicles.
- Truckers coverage form on the other hand is used to insure vehicles for
- trucking businesses that haul goods for others, and which frequently exchange trailers wit other business.
Obviously if you need coverage, you may not necessarily need to know
what the garage coverage form is, but it’s always a good idea
to see all your options and know exactly what they cover.
Like with any industry, mistakes and incorrect classification can occur.
You could be searching for coverage for your vehicle, find a great rate,
purchase the policy, and once a claim or loss occurs,
you are left in a difficult situation.
Time of Loss
At the time of the loss is not when you want to learn that you were not
classified properly or purchased coverage for the wrong type of policy.
Not only will your premium spent on the policy be useless, but you face a claim denial.
Having said that, this is why the additional information above was
provided, to make sure you understand exactly what you getting,
with no future surprises.
Your policy declaration pages for your policy will be length and detailed.
They are divided into six sections.
The declarations identify the:
- name insured,
- policy number of your coverage,
- and the form of business,
- mailing address of named insured,
- identity of the insurance company who is accepting risk and your producer with policy period.
Closing Coverage Points
- All this information is a snap view of the most common questions you may have about your coverage.
- It will also show the vehicles insured and coverage options provided.
- Along with this information, rates, premiums, deductibles are commonly found on your declaration page.
When numerous vehicles are insured, separate schedules of the vehicles may be attached.
The information is grouped in the following ways:
- Item One – General Information about the risk
- Item Two – Coverage, coverage symbols, limits of liability and the premium for each coverage
- Item Three – Schedule of owned autos
- Item Four – Schedule of Hired or borrowed autos
- Item Five – Schedule for non ownership liability
- Item Six – Schedule of gross receipts or mileage for liability coverage for public auto or leasing rental concerns.
Many sections of the declarations will be completed as appropriate for the coverage’s being written.
If a particular coverage does not apply, then that section will intentionally be left blank.
This can sometimes be confusing if your not familiar with the process.
You will see multiple pages in this order.
Every section on your policy has a purpose. This is to ensure no gaps of coverage exist.
Each policy is tailored to your operation.
Symbols Used to Tailor Coverage
The policy uses symbols in order to tailor coverage.
The symbols are used to designate what kind of vehicles are
covered under the various parts of the policy.
Section I of the coverage form lists the nine symbols which may be
used to identify covered autos, which describes each one.
Business auto coverage applies only to those vehicles which are identified
as covered autos in the declarations by entry of the appropriate
numerical symbol after each coverage purchased.
Coverage may be tailored to your needs by selection of the appropriate symbols.
Different symbols may be used for different coverage’s.
If no symbol is shown for a particular coverage, then that coverage is not provided.
More than one symbol may be shown for a given coverage
if there is no conflict or overlap between the symbol descriptions.
For example, the same coverage could apply to the owned autos and hired autos.
Progressive – Broadest Coverage
If you need the broadest coverage available, then symbol
1 is for you, because “any auto” includes all:
- hired, and
- non owned autos.
You may purchase the most narrow coverage by using symbol
7 and requesting that coverage apply on to the specifically described autos.
It is not uncommon for a policyholder to purchase liability coverage
for any auto and to purchase physical damage coverage
only for some specifically described autos.
Liability coverage of any kind, is the most important type to secure
because liability risk pose the greatest threat to to a business’s financial well being.
Symbols 3 and 4 would be used if you wanted a particular
coverage to apply only to owned private passenger autos or to owned autos other than private passenger autos.
Symbols 5 and 6 can be used to activate no fault benefits and compulsory uninsured motorist coverage for owned autos.
These are required to have such benefits in the state where they are licensed or principally garaged.
Hired autos includes all autos the insured leases, hires, rents, or borrows.
But not autos owned by employees or members of their households.
Non owned autos include all autos you as the insured do not own, lease, hire, or borrow.
- These are used in connection with the business,
- including autos owned by employees or members of their households while being used in your business.
- Certain symbols may be used only specific types of coverage.
- Symbols, 1, 2, 3, 4, 7, 8 and 9 may be used to designate liability coverage.
However, liability is the only coverage for which symbol 1 may be used.
This is because other coverage’s cannot apply.
This applies to any auto, no fault benefits, medical payments, uninsured motorist and physical damage coverage.
These coverage options are not available for non owned autos.
Symbol Coverage Options
- Symbols 2, 3, 4, 7, 8 all may be used to designate physical damage coverage.
- Symbol 5 may only be used to designate no fault benefits.
- Symbol 6 may only be used to designate uninsured motorist coverage for certain vehicles.
- This coverage is mandatory.
- But broader uninsured motorist coverage for all owned
- vehicles may be provided by showing symbol 2 for this particular coverage.
Long Beach CA Coverage
As you know, living in Long Beach California has many
attractions that bring visitors and locals alike each year to its city.
As an example, the Aquarium of the Pacific in Long Beach, California
is the largest aquarium in Southern California. What a statement that says on so many levels.
It is also the 5th largest aquamarine in the United States.
With these bragging rights comes a lot of attention.
Try about 1.4 million visitors annually. Now, that is a lot of attention.
It is no surprise with these numbers,that this is the 3rd largest attraction in the Los Angeles area.
With this type of popularity creates many new bodies on the
road and other factors that your insurance company will take note on.
Actually, not just a note, but also as a rating factor so,
remember this when comparing insurance rates.
Depending on where you live or have your vehicle physically stored at,
will either help or hurt you on the premium.
Areas of higher population may face higher premiums when taking all
other rating factors in consideration, such as crime rate within that population.
The good news is, there are discounts to offset these higher premiums.
Plus, there are also carriers that specialize in areas with large populations.
Offset Price for Discounts
This is good news for the folks of Long Beach, living in
a city and county with such a high tourism population.
The increase in population size due to tourism will reflect
on your truck or car quote as you probably already assumed.
This is because the larger number of people in a close proximity
only increases the chance of risk and exposure.
Insurance companies are aware of this population fluctuation
and have their rates to reflect accordingly.
Find Affordable Truck Quotes!
Find low cost box truck insurance or cheap car insurance Los Angeles.
We understand car and truck coverage with prior industry experience.
With many agents as former truckers themselves, it helps to have an
experienced eye on your side. The transportation business is a
specialty market, with special coverage options.
Find answers, regarding car insurance quotes and
truck insurance quotes near me online in Los Angeles County, CA.
Service Areas: Los Angeles, Pomona, Ontario, Fontana, Long Beach, Anaheim, Fullerton, Orange, Huntington Beach.
Box Truck Insurance
- Jack Elman