Non trucking liability insurance is specifically purposed for independent truckers who under permanent lease to a motor carrier. It is short called NTL and this coverage protects your truck when you are not using your truck for business purpose. It means, it functions when your trucks are not under protection. It can be when you are driving home after work on your truck, helping your friends moving their belongings, or even visiting a truck wash on the weekend.
Those kinds of situation are equally risky. While commercial truck insurance only protects the trucks while they are being used in a business, we have to keep them protected as well since accident is what always faces while driving on our trucks.
To know more about NTL, this article will assist you how to get NTL and avoid some mistakes while purchasing NTL coverage or understanding Bobtail insurance.
Understand the Exclusions and Exceptions
While shopping for non trucking liability insurance, the reality is not as simple as that. Even though it gives protection towards the trucks while not in use for business, each insurance company has its own exclusions or exceptions regarding with the conditions.
You may think that fueling up, driving to or from the terminal, traveling for maintenance or dead-heading driving is not included into business activity, but some companies may include them as part of business.
Even, washing your trucks can be included as well. Those kinds of activities may be covered by liability insurance of your motor carrier.
For those reasons, it has to be clear in front about the exclusions and exceptions of non trucking liability insurance. Each company has different terms so you have to look at the details of the coverage from the company you plan to choose to avoid claim failure.
Related to NTL, a lot of people misunderstand it with bobtail liability insurance. In fact, both of them are completely different. To avoid this mistake, make sure you review your contract or you can verify with your current motor carrier to determine your needed coverage.
After you are sure that you already clear on this, there will a time for you to purchase NTL. Some people also make mistakes just in the beginning.
Instead of conducting an extensive research on insurance companies, they simply get to the most heavily advertised companies providing non trucking liability insurance. For your information, the first company you find on your searching may not be necessarily the one which can give you the best need and rate.
Do Purchasing in Proper Way
Our aim of research is to find the best rate. If we just go to the companies we firstly find, we do not what other companies offer. We possibly get the best rate only if we shop around by requesting quotes.
There are several reasons for this. Mainly, different companies typically charge different rates for the same coverage. Furthermore, the competitiveness of insurance companies varies based on your location.
So, before you make a final decision on purchasing non trucking liability insurance, you need quotes as comparison. What is the ideal numbers of quotes? Well, it is relative, but good quote comparison is possibly obtained if you already get five quotes from different companies.
Less than five will not do well. You can customize your quotes based on your situation and location. Only then, you can get the best rate.
Otherwise, you can work with an insurance agent. Despite the cost you have to pay, it gives you some benefits. The major reason is that you can customize your insurance plan that best suits to your business.
Agents also help you in getting quotes so you can get the best coverage. You will be helped by an insurance expert so it can be a lot simpler (despite the cost) to get non trucking liability insurance.