Liberty Mutual is one of the largest insurance companies in the United States, insuring both individuals and businesses. The company offers customized insurance policies for trucking and towing companies.
Liberty Mutual Truck Insurance Products
Liberty Mutual offers coverage options for trucking fleets and commercial vehicles. Additionally, the company provides specialized coverage for smaller fleets through its Motor Cargo product.
Fleet Insurance Coverage
Liberty Mutual offers comprehensive, standard commercial auto insurance options as well as add-on coverages to bridge gaps and mitigate risks. They offer the essential coverages to meet the basic needs of fleet owners. Additional coverage is also available to mitigate other risks that your business may face.
A commercial auto insurance policy from Liberty Mutual should include the following coverage:
Bodily Injury
Most states will require bodily injury coverage. If someone in your fleet gets into an accident and another party is hurt or killed, bodily injury liability will cover:
- Medical costs
- Funeral expenses
- Loss of income
Bodily injury liability is an essential coverage for commercial trucking companies.
Property Damage Liability
Property damage liability is also mandatory in most states. Just as the name suggests, this coverage will cover the costs of damage to third-party property if you are at-fault for an accident.
Collision
Although optional in many cases, collision coverage is a smart investment for trucking fleets. If a truck is damaged in an accident, collision will cover the cost of repair. In addition, damage will be covered whether your truck was parked or if you were at-fault for the accident.
Comprehensive
Comprehensive is also an optional coverage, but it’s another great investment for commercial trucking fleets. It covers the cost of damages or loss caused by unforeseen events, such as:
- Natural disasters (storms, floods, etc.)
- Fires
- Theft
- Vandalism
With natural disasters on the rise, comprehensive is worth the investment.
Medical Payments
Medical payments, also known as personal injury protection (PIP), will cover medical care for drivers and their passengers if they are injured in an accident. Along with the initial medical care, PIP can also cover lost income and legal fees.
Uninsured or Underinsured
An estimated 1 in 8 motorists in the U.S. doesn’t have auto insurance. Many more have the minimum coverage or not enough insurance to cover the cost of damages in an accident. Uninsured or underinsured coverage will cover the cost of damages if you are in an accident with a driver who doesn’t have enough (or any) coverage.
Add-On Coverage: On-Hook Towing Insurance
Liberty Mutual also offers additional coverage for on-hook towing. If a driver in your fleet is in an accident and the truck needs to be towed, this coverage will cover these costs.
Additional cov