Image of a person filling a form to denote commercial vehicle insurance coverage

Understanding the 4 types of commercial vehicle insurance coverage

What you need to know about commercial vehicle accidents? Commercial vehicle accidents can be a result of distracted driving, mechanical issues and the inability to identify blind spots. A blind spot is a dangerous zone surrounding the truck where vehicles are out of sight from both side-view and rearview mirrors, putting drivers at risk. While there are a number of strategies for risk management, claiming a commercial vehicle insurance policy helps to counter the financial loss.  The number of commercial vehicle accidents is quite frequent. For instance, The National Highway Traffic Safety Administration (NHTSA) reported that 8,40,000 accidents involving large commercial vehicles occur annually due to drivers not being aware of their blind spots while 300 people lose their lives in such collisions. How does insurance benefit the Logistics industry? There are a number of benefits of commercial vehicle insurance policy in the logistics industry. It  helps to protect drivers, vehicles and cargo in terms of loss or damage by meeting medical and other financial requirements. 4 types of commercial vehicle insurance coverage: There are multiple types of commercial vehicle insurance coverage including commercial liability, physical damage, motor truck cargo and non-trucking liability. Factors that influence the premium of commercial vehicle insurance: The cost of commercial vehicle insurance is determined by many factors, such as the age and condition of the automobile, its model and make, vehicle class, type of fuel it uses, insured declared value (IDV) and  location in which it is registered. You can buy commercial vehicle insurance online by choosing the best trucking insurance companies like Axlerate which provides commercial truck insurance, freight insurance coverage and health insurance for truck drivers. Let’s Wrap Up! Commercial vehicle accidents are increasing due to distracted driving, mechanical issues and trouble with identifying blind spots. However, having a commercial vehicle insurance policy will help to provide coverage for drivers, vehicles and cargo. You can buy commercial vehicle insurance online from the best trucking insurance companies in terms of commercial liability, physical damage, motor truck cargo and non-trucking liability.