Ooida

OOIDA offers truck insurance options broadly for owner-operators with authority and leased owner-operators. Let’s take a look at each of these coverage options.

Owner-Operators with Authority

OOIDA offers the following types of truck insurance for single and independent truck owner-operators:

Primary Liability:  It covers the loss from legal liability of the truck owners for causing any kind of body injury or property damage to another party. It also covers all kinds of legal obligations of the owner operators operating on their own authority or owner operator carrying exempt commodities. To activate your own authority, you need to have this coverage. When FMCSA requires around $75,000, most of the shippers and brokers ask around $1 million limits.

Commercial General Liability is another kind of coverage that can be purchased along with primary liability with huge discounts in premium if purchased in conjunction with the primary coverage and it covers against all liability claims for the insurer for any kind of bodily injury and damages in property in the premises or during operations or on products and all kinds of completed operations. It also covers the liability claims on advertising and personal injuries.

Motor Truck Cargo is a kind of insurance that covers against the loss caused from legal liabilities from goods damage or any kind of merchandise that is under the care of the insured or under custody of the insured during transit. The Motor Cargo insurance also covers for the removal of debris, breakdown of the refrigeration unit and earned freight.

Passenger Accident Coverage provides cover for accidental death and dismemberment along with medical expenses only for guest passengers traveling in the truck. This coverage doesn’t provide cover co-drivers or employees of the insured. There is also no age limits included in the coverage.

Physical Damage provides coverage to any damage caused to your truck by accidents, theft, fire or any kind of vandalism act. It covers glass breakage, chip repair in the glass and any downtime coverage. No additional premium is added to the insured with the physical damage insurance coverage. In case you have a tractor and a trailer under the physical damage insurance coverage, and under circumstances if both are involved in the same accident, then the coverage will apply only for one vehicle and it will be highest deductible one.