Have you seen the number of lawsuits involving commercial trucks, semi trucks, and passenger cars? Are you familiar with those stats? It is enough to boggle the mind, especially if your drivers have to drive through or near part of the state or country that is hampered by hundreds of accidents of this sort every year. If need any more reasons for buying commercial truck insurance, here they are.

Replacing Your Trucks

​When you have adequate commercial truck insurance, you can replace trucks that are totaled. Any time a truck is not repairable after an accident, the insurance kicks in and replaces that truck for you. In your line of work, the cost of replacing a truck is a major expense, and not having to worry about it because your insurance has you covered is HUGE.

Covering Injuries

​Truck insurance covers damage not only to your fleet, but also to the passenger vehicles that are hit and the people who drive them. You have to be willing to cover those costs via insurance, or the other drivers can sue you. If the other drivers sue you, your profits margin is going to dramatically shrink. You may even find that you are unable to bounce back from a single incident where one or more drivers has chosen to sue your company and your drivers because of the injuries the other drivers sustained. Be prepared by being insured. 

​Preventing Bankruptcy 

​Sometimes some companies are rocking on the edge between doing better and bankruptcy. If your company is teetering this way, the last thing you want is for a trucking accident and a lawsuit to put you over the edge into bankruptcy territory. That is not something you can really come back from if you can already see your profit margin dwindling before the accident.

The insurance you carry on your trucks, your drivers, your business, etc. is costly, to be sure, but not nearly as costly as losing your business entirely. What is more, if you lose the business, you may still have to pay compensation to the person or family that was driving the passenger vehicle or the other truck. If your driver was involved in a massive accident that caused a vehicle pile-up on the freeway, you are going to need every last drop of commercial truck insurance coverage you have to avoid drowning in debt for the next couple of decades.