Do you own a construction company?
If so, then you understand the importance of having the right equipment for every project. This includes dump trucks for moving dirt, gravel, sand, and other materials from one place to another. In fact, a good dump drunk is an indispensable part of any construction job.
When your company owns dump trucks, it’s important to make sure you have adequate insurance coverage. But how can you know which type of dump truck insurance is right for your small business? This article can help.
Here we take a look at insurance options for dump trucks so you can rest assured that you’ll be covered in case of an accident. Keep reading to learn more.
Table of Contents
Why Do You Need It?
Let’s start by discussing why any construction company would want to consider buying insurance for one or a fleet of dump trucks. This should be so obvious that it’s barely worth mentioning.
After all, construction is a dirty business. It’s rough on equipment. Plus, the average dump truck takes a lot of abuse during a workday.
It’s also important to keep in mind that dump trucks pose a significant safety hazard on the road. That’s because they haul materials which can spill, resulting in traffic accidents and damage to other vehicles. Thus it’s crucial to make sure you are protected in case of potential lawsuits.
What Does This Type of Insurance Cover?
There are various types of insurance for dump trucks. This type of insurance can provide coverage for everything from general liability to personal injury protection, to cargo insurance.
You can also purchase coverage for rental reimbursement when renting a dump truck, coverage for downtime, as well as fire and theft coverage.
What Factors Affect the Price of Coverage?
There are several primary factors that affect the amount you can expect to pay for this type of insurance. They include the location of your business, the truck’s value, your driving record, the materials you plan to haul, and the level of experience your drivers possess.
Here’s a resource where you can find cheap dump truck insurance.
How Much Should You Expect to Pay?
Insurance coverage for a dump truck can range from $2,000 to $14,000. This of course is dependent on the size of your truck and the type of coverage you need for commercial purposes.
A Guide to Buying Dump Truck Insurance
It’s no secret that heavy equipment and vehicles are essential to the construction industry. In fact, your small construction company can’t survive without them. Fortunately, this guide to buying dump truck insurance will help you get started in finding the right type of coverage for your company.
This blog was created by entrepreneurs for the benefit of other entrepreneurs who work hard every day to make their dreams come true. Please continue exploring our library of business-related articles for tips and advice that can help take your small business to the next level.
