It is important to keep in mind legal requirements when obtaining trucking insurance. Commercial Truck Insurance is mandatory in all 50 states and failure to obtain coverage could cost you a lot of money in fines or even worse, your license. By law, you must have a minimum of 750,000 in auto liability and cargo coverage (coverage depends on what your trucks are hauling). 

Basic Construction and Excavating insurance Coverage:

• General Liability Insurance: This common construction liability coverage protects your business if it’s responsible for events like property damage, bodily injury or defective work.
• Commercial Auto: Protects vehicles used in your business including those that transport your tools and equipment. Adding physical damage coverage to your policy gives you the choice to cover permanently attached equipment such as bolted tool boxes or ladder racks.

Other Coverage you might need:

While commercial auto insurance is crucial for small businesses that depend on a car, van, or truck, it does not cover risks beyond those related to your vehicle. Owners of construction and contracting businesses should also consider:

• Workers’ compensation insurance: Required in almost every state for construction and contracting businesses that have employees, workers’ comp can cover medical fees for work-related injuries.
• Contractor’s tools and equipment insurance: This policy helps pay for repair or replacement of a contractor’s equipment and tools if they are lost, stolen, or damaged.
• Professional liability insurance: This policy covers professional mistakes and oversights, such as a contractor missing a deadline for a project.
• Builder’s risk insurance: Builder’s risk insurance can pay for damage done to a structure still under construction, such as fire or vandalism at a construction site.