It could take some time however, you need to get the fundamentals right. Finding commercial insurance carriers to protect your business does not necessarily have to be difficult Continue reading to discover everything you need to know about getting commercial insurance to protect your company.
Before you begin your business it is essential to ensure that you’ve got motor carrier insurance that is on file. Therefore, prior to starting your business it is essential to have an insurance company to get confirmation of this to the Federal Motor Carrier Safety Administration. They can’t grant you a DOT # until you have evidence of insurance.
What insurance do I need? The government requires every motor carrier to have at minimum 750,000 dollars of public liability insurance that covers bodily injury, property damage, and environmental remediation.
Does this amount match? The minimum amount of $750,000 may vary dependent on the kind of product you haul, such as dangerous materials. It can go up to $1-5 million. It is not required by the government for motor vehicle operators to carry insurance for their cargo, but it’s highly recommended.
To find out more, you can watch the video above!