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Semi Truck Insurance

Semi truck insurance is a high risk, high reward branch of auto insurance. Why is it high risk? Well how many of you are sitting on the kind of cash necessary to buy a semi. How much do semi’s cost, you ask? The market is in the hundreds of thousands of dollars for new or even lightly used trucks. And that’s just for the rig itself.

There’s even more money at stake in semi truck insurance when you look at the trailers and cargo involved. You see, when you drive a car, even if it is a very full car it doesn’t have much money inside of it, unless of course you decided to haul gems or precious metals in the car. But a truck full of anything, even something as mundane as bananas, costs quite a bit of money.

It costs so much that when selling semi truck insurance; a company will insure the cargo separately from the truck. It has to be done that way, because the price of each haul varies so immensely. A truck full of flat screen TVs will have a different premium than a truck full of bread.

 

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