The American Trucking Association reports that over 72% of all freight tonnage moved in the U.S. relies on trucks. With such a vital role to play, it's crucial for these companies to protect themselves from financial risks associated with accidents, property damage, or cargo loss. But what types of insurance do long-haul trucking companies require to ensure their protection?

In this article, we'll explore the various insurance types that are essential for these businesses. Read on to learn how the right insurance coverage can save your trucking business time, money, and headaches, allowing you to focus on what you do best.

Motor Truck Cargo Insurance

Long-haul drivers need special insurance called motor truck cargo insurance. This insurance helps protect the trucking company when they carry goods in their trucks.

Sometimes, things can go wrong, and the goods can get damaged or lost. Motor truck cargo insurance makes sure the trucking business does not have to pay for damaged or lost goods.

Commercial Property Insurance

Trucking companies also need commercial property insurance. This insurance protects the things the company owns or uses, like buildings, equipment, and inventory.

We all know anything can happen to a trucking business's property. This insurance helps the company fix or replace their property if it gets damaged or lost. By having this insurance, the trucking company can keep working even when something goes wrong with their property.

Rental Reimbursement with Downtime

Sometimes, your trucks can't be used because they need repairs or have been in an accident. When this happens, you may need to rent other trucks to keep working. Rental reimbursement with downtime insurance helps pay for these rental trucks.

Trailer Interchange/Non-owned Trailer Insurance

Long-haul trucking companies sometimes use trailers they don't own to carry goods. When this happens, they need trailer interchange or non-owned trailer insurance.

This insurance helps the trucking company if something happens to the trailer they're using. If the trailer gets damaged or is in an accident, this insurance pays for the repairs or replacement.

Physical Damage Coverage

Physical damage coverage is another important insurance for long-haul trucking companies. This insurance helps fix or replace the truck or trailer if something bad happens to it. There are three main types of physical damage coverage:

• Collision
• Comprehensive
• Specified perils coverage

Collision coverage helps when the truck or trailer is in an accident. Comprehensive coverage helps when the truck or trailer is damaged by things like theft or vandalism. Specified perils coverage is used for certain types of heavy trucks and helps when specific bad things happen, like a fire or flood.

Accidents and damage can happen anytime in the trucking industry. That’s why physical damage coverage is so important for a trucking company. This commercial insurance makes sure you can keep working even when your truck or trailer is damaged. With this insurance, you can stay on the road and keep moving goods.

Fleet Programs

Long-haul trucking companies often have many trucks and drivers. These companies need special insurance called fleet programs. Fleet programs are made just for trucking companies with lots of trucks.

This insurance helps the company by giving them the right coverage for all their trucks and drivers. The trucking business can feel safer knowing that their whole fleet's protected.

Safety Programs

Safety is very important for long-haul drivers and trucking companies. When companies have good safety programs, they can pay less for insurance.

Trucking businesses can work with insurance agents to make their safety programs better. These programs help the company and its drivers stay safe on the road.

Workers' Compensation

Trucking companies need to make sure their workers are taken care of if they get hurt or sick on the job. Workers' compensation insurance helps with this. This insurance pays for medical bills and lost wages when a worker gets hurt or sick because of their job.

It’s important for long-haul trucking companies to have this insurance. By having workers' compensation, the trucking business can make sure their workers are protected and get the help they need.

Liability Insurance

There are many types of liability insurance that a long-haul trucking company needs. These insurances help protect the company when something goes wrong, and a third party is hurt or their property is damaged.

Trucking Auto Liability Insurance

Trucking auto liability insurance helps when a truck is in an accident that hurts someone or damages their property. This insurance pays for the other person's medical bills or property damage. It’s important for the trucking business to have this insurance to stay protected.

Motor Truck General Liability Insurance

Motor truck general liability insurance helps when someone is hurt or their property’s damaged because of the company's work. This insurance covers things that happen when the truck is not being driven, like loading or unloading the truck.

Pollution Liability Insurance

Pollution liability insurance helps the trucking company when their truck causes pollution. This can happen if the truck leaks fuel or other chemicals. The insurance pays for the clean-up and any damage caused by the pollution.

Non-Trucking Liability (Deadhead/Bobtail) Insurance

Non-trucking liability insurance helps when a truck is being driven without a trailer or cargo. This insurance covers the company if the truck is in an accident during this time. You may need this insurance to make sure you're protected, even when your truck is not carrying cargo.

Umbrella and Excess Liability Insurance

Umbrella insurance and excess liability insurance give the trucking company extra protection. This insurance helps when the costs of an accident or damage exceed the limits of the underlying policy.

Professional Liability Insurance

Professional liability insurance helps trucking companies when they make a mistake or don’t do their job correctly. This insurance pays for any damage or problems caused by the company's mistakes.

The Perfect Insurance Partner for Your Long Haul Trucking Business

It's evident that long-haul trucking companies need a wide range of insurance types to safeguard operations. Proper insurance coverage not only provides financial protection but also offers peace of mind. This allows trucking companies to concentrate on their core business.

As experts in trucking insurance, we understand the unique needs of your long-haul trucking business and can help you find the best coverage to protect your assets and ensure your success. Don't leave your trucking business vulnerable to potential risks. Contact us today to learn how our tailored insurance solutions can secure your long-haul trucking company's future.

Imagine this: You've invested your heart, soul, and finances into your commercial farming business. But one day, an unexpected storm destroys your crops, leaving you devastated and unsure of what to do next. Or worse, an accident on your farm leaves you facing a hefty lawsuit.

Are you prepared to face these challenges? Protecting your farm from potential risks is essential, and commercial farming insurance is the safety net you need. Read on to learn how to choose the right insurance coverage for your unique farming operation and gain peace of mind knowing your livelihood is protected.

Assess Your Farming Operation and Risks

As a commercial farmer, it's essential to understand your farming operation before shopping for insurance. Different farming operations have unique risks and insurance needs. Whether you run a commercial dairy farm, a large crop operation, or specialize in specialty agriculture, knowing your farm's specifics will help you identify the best insurance coverage.

Identify Potential Risks

To choose the right insurance, you need to identify potential risks your farm may face. These risks can include natural disasters like floods, droughts, or storms.

Accidents involving farm workers or visitors, equipment breakdowns, and other unexpected events can also be risks. By understanding the hazards your farm may face, you can better protect your business with the right insurance.

Consider Your Farm's Unique Needs

Once you have a clear understanding of your farming operation and the risks involved, consider your farm's unique insurance needs. For example, do you need coverage for farm buildings, such as barns and silos? Do you have expensive equipment that requires protection?

Think about the value of your crops and livestock and whether you need insurance to cover their loss. By considering your farm's specific needs, you can find the best insurance coverage for your operation.

Types of Commercial Farming Insurance Coverage

To protect your commercial farm from the many risks it faces, you need a comprehensive insurance plan. There are several types of insurance coverage available to meet your farm's unique needs. Let's explore these coverage options to help you make an informed decision for your farming business.

Property Insurance

One of the most important types of insurance for a commercial farmer is property insurance. This coverage protects your farm's physical assets, such as buildings, equipment, and stored products.

If a natural disaster, accident, or other event causes damage to your property, property insurance can help cover the costs of repair or replacement. Make sure to choose a policy that covers all your farm's valuable assets.

Liability Insurance

Liability insurance is another essential type of coverage for a commercial farm. This insurance protects you if someone is injured on your property or if you cause damage to someone else's property.

Liability insurance can cover costs such as medical bills, legal fees, and compensation for property damage. Some policies also include environmental liability coverage, which can protect your farm from the costs of environmental damage, like pollution or contamination.

Business Income Insurance

Your farm's income can be affected by unexpected events like natural disasters or accidents. Business income insurance helps cover the loss of income you might experience during these interruptions. This type of insurance can provide financial support to help you get your farm back up and running, ensuring your business's continued success.

Equipment Breakdown Insurance

Farm equipment is essential for your operation, and breakdowns can be costly. Equipment breakdown insurance helps cover the costs of repairing or replacing damaged equipment, like tractors or harvesters. This type of insurance can help keep your farm running smoothly and minimize downtime due to equipment issues.

Special Coverage Options

Some farms have unique needs that require special insurance coverage. For example, you might need coverage for renting a replacement machine if your equipment is damaged. Or, you may need help with compliance with environmental regulations, like those set by the Environmental Protection Agency (EPA).

Choosing the Right Insurance Provider

When you need insurance for farmers, it's wise to work with an independent agency. Independent agencies work with many insurance companies. This means they can give you more options and help you find the best price.

Independent agencies like the Hummel Group have agents who know a lot about farm insurance. They can help you find the right coverage for your agricultural business.

Think About the Insurance Company

It's important to choose the right insurance company. There are a few things to think about when you pick a company. First, make sure the company is strong financially. This means they can pay claims when you need them to.

Next, find out how the company handles claims. You want a company that makes the claims process easy and fair.

Finally, think about customer service. A company with good customer service can help you when you have questions or need help.

Work with Farm Insurance Experts

Farm insurance is unique, so it's important to work with agents who understand it. Agents who know about farm insurance can help you find the best coverage for your farm’s needs.

They can also help you understand the small details that make farm insurance different. When you work with a farm insurance expert, you can feel confident that you have the right protection for your farm.

Customizing Your Insurance Program

Every farm is different, so your insurance should be different too. It's important to make your insurance fit your farm's needs. This means finding coverage that protects your buildings, equipment, and crops.

The Hummel Group works with farmers to find insurance programs that fit each farm. We can help you find the right coverage for your farm.

Farms change over time, so your insurance should change too. You might get new equipment or build new buildings. When this happens, you need to make sure your insurance covers these changes.

It's a good idea to work with your insurance agent to update your coverage. This will help you make sure your farm is always protected.

Protect Your Farm with Confidence

In a world full of uncertainties, your commercial farming business needs a solid insurance plan to weather any storm. By assessing your risks, choosing the right insurance provider, and customizing your coverage, you can safeguard your farm's future.

The Hummel Group specializes in commercial agriculture insurance and can help you find the perfect coverage for your unique needs. Don't leave your farm's future to chance. Contact us today to get the protection you deserve.

Having the right insurance is important in the manufacturing industry. You need to prepare for days when things don't go as smoothly as planned.

Every industry has unique insurance needs. Manufacturing insurance should include general liability, commercial property, business income, and professional liability.

Your business insurance can be combined into one package for a more cost-effective option.

Are you in the manufacturing industry and in need of commercial insurance? Keep reading for ten questions to ask a manufacturing insurance agent.

1. What Does Manufacturing Insurance Cover?

There is a long list of coverage for a manufacturing business. Each business has to determine which coverages they need. Choosing the right insurance agent goes a long way in ensuring that you have the right policies in place.

Here is a list of common policies to consider for the US manufacturing industry.

• Commercial Policies
  • Auto
  • Property
• Cyber Liability
• General Liability
• Product Liability
• Workers' Compensation

Once you get into special circumstances, you'll need additional coverage. These can include equipment coverage, Inland Marine, and bonds.

2. Best Policy Types

Depending on your business size and what you produce, you can go with a business owner's policy or a commercial insurance package. Choosing one of these for your manufacturing business allows you to combine the coverage you need into one policy.

BOPs come with savings benefits.

3. How are Manufacturers Rated?

When getting quotes for any line of business, asking how you're rated is a good idea.

Different lines of business use different factors to determine their rating. Some carriers might use gross sales, the occupied area of the building, or even employee payroll.

Ensure you're being rated right. If manufacturing insurance policies aren't rated correctly it can cost you money. That way, there won't be any surprises if you ever have an audit or a claim situation.

4. What is BOP Insurance?

A business owner's policy is a type of insurance policy that combines different types of insurance. In one convenient package, the BOP can include commercial property, general liability, and business income.

It's important to remember that you should choose coverage that's specific to your industry. Some types of insurance don't come with a BOP. Auto, workers' compensation, and employee benefits are excluded.

Your agent will tailor your policy to fit the needs of your manufacturing businesses.

A BOP policy covers businesses that are not home-based and have fewer than 100 employees. Your annual revenue must be under $5 million, and you want to protect property or equipment. Remember that a BOP won't cover every risk and won't work for every industry.

5. How Does Product Liability Work?

Product liability insurance is more than just a product warranty or guarantee. It's a way for businesses to protect themselves if their products cause harm to others.

Consumers can be hurt by the way a product is made, marketed, or used. Even if the product is used incorrectly, your business could be held responsible for any damage that happens.

A product liability lawsuit can be a costly and stressful experience. Product liability insurance helps cover the legal costs that tend to be expensive. It also covers medical expenses, business, and compensatory damages.

6. Do I Need Equipment Coverage?

Having equipment breakdown insurance is a smart move if you don't own your building. Like most companies, your business relies on equipment that operates on electricity or gas supplied by a power company.

Your commercial property insurance will cover damage caused by an external cause like a fire. Equipment breakdown insurance covers damage caused by internal forces like power surges, electric shorts, mechanical failures, motor burns out, or operator mistakes.

7. What is Umbrella Insurance?

Suppose you're looking for extra insurance that goes beyond what your other policies cover. In that case, umbrella insurance is the way to go. It can cover you for anything from injuries and property damage to certain lawsuits and liability issues.

Commercial umbrella insurance is a great way to get extra protection since it covers costs that go over your other limits. It's like having extra insurance that takes over when you reach your other limits.

For example, if you're sued for a vendor's injury at your plant, you only have liability coverage of $1 million. The customer is suing you for $1,500,000, so your commercial umbrella could cover the difference, depending on the policy's coverage limits.

8. Can You Explain E & O Coverage?

Errors & Omissions insurance is a form of professional liability insurance. It helps protect employees and employers from clients who sue them for negligence or bad work. It usually covers the legal costs of the claim and all or part of the settlement.

You're responsible for the balance when the amount exceeds the policy limit of the settlement.

Suppose your business is concerned about losses due to a product failure that results in a third-party lawsuit. These claims involve third parties who have lost money but have not suffered property damage. You should discuss E & O coverage with your agent in that case.

9. Are Changes Coming for My Industry

There is a rise in robotic technology, machine connection, data gathering, and data analysis in the manufacturing sector. Technology will make your workplace safer, more efficient, and more productive.

Implementing updates that improve safety ratings can positively impact your safety premiums and change how they're rated from a higher to a lower class code.

It's important to notify your insurance agent of any upgrades in equipment and technology.

10. Can Hummel Group Insure Us?

We have a few agents who specialize in the manufacturing industry and have years of experience in this field. They have the know-how and carriers to cover manufacturing plants of all sizes.

Let Hummel Provide You With a Quote

The Hummel Group provides manufacturing insurance. We'd love to provide your business with the coverage you need if the unexpected happens.

We have seven locations with over sixty years of insurance experience.

Getting a quote is quick and easy. Start your quote now, and get the right coverage for your business needs.

Imagine you've poured your heart and soul into starting your business, only for an unexpected disaster to strike. How would you cope? As a business owner, protecting your investment from unforeseen events should be a top priority.

But with so many insurance options available, how do you know which ones are essential for your business? The good news is, you don't have to figure it out alone. Read on to discover the types of insurance you need to safeguard your business and achieve peace of mind.

General Liability Insurance

When starting a business, a new business owner should think about general liability insurance. This type of business insurance is important for many reasons.

It helps protect your company if someone gets hurt or if their property gets damaged. For example, if a customer slips and falls in your store, general liability insurance can cover the costs. There are a few things that general liability insurance can cover:

• Bodily injury
• Property damage
• Legal fees and settlement costs

Having this commercial insurance can give you peace of mind. It helps make sure your business is protected from unexpected events.

Property Insurance

As a new business owner, you might own or rent a workspace. Property insurance is important in either case. This type of insurance helps protect your business from losses caused by things like theft, fire, and natural disasters.

Here are some things that property insurance can cover:

• Buildings and structures
• Office equipment and furniture
• Inventory and supplies

Property insurance can help you get back on your feet if something bad happens to your business. It's a smart way to protect your investment and keep your company running smoothly.

Workers' Compensation Insurance

If you have employees, workers' compensation insurance is important. It's not just a good idea, but it's also a legal requirement in some instances. This type of insurance helps cover the costs if an employee gets hurt or sick because of their job.

Workers' compensation insurance can help with these costs:

• Medical bills
• Lost wages
• Disability benefits

Commercial Auto Insurance

When your business uses vehicles, commercial auto insurance is essential. This type of insurance is important for businesses with company cars or trucks, or when employees drive their own cars for work. It helps protect your business from the costs that can come with accidents and other issues.

Commercial auto insurance can cover:

• Liability for injuries or property damage
• Physical damage to vehicles
• Medical expenses for drivers or passengers

Professional Liability Insurance

Many businesses offer professional services or advice to clients. For these businesses, professional liability insurance is important. It's also called errors and omissions insurance.

This type of insurance helps protect your business from claims that you made a mistake or didn't do your job right. Professional liability insurance can cover legal defense costs and settlements or judgments.

When you have professional liability insurance, you can focus on providing the best service to your clients. You'll know that if something goes wrong, your insurance will be there to help.

Business Owner Umbrella Insurance

When starting a business, it's important to think about umbrella insurance. This type of insurance gives extra protection for your new business. It goes beyond the limits of your other insurance policies, like general liability or commercial auto insurance.

Umbrella insurance helps cover the costs when other insurance policies don't cover everything. For example, if your general liability insurance has a limit of $1 million, but a lawsuit costs $1.5 million, umbrella insurance can help with the extra $500,000. This extra coverage helps keep your business safe from big financial problems.

A new business owner should talk to an insurance agent about umbrella insurance. They can help you find the right coverage for your business needs.

Crime Insurance

Crime insurance is another important type of coverage for a new business. This insurance helps protect your company from different types of crime. Some common crime insurance coverages include cyber liability, employee dishonesty, forgery and alterations, computer fraud, and money and securities.

Cyber Liability

In today's digital world, businesses need to protect their online information. Cyber liability insurance helps with the costs if your business has a data breach or a cyber attack.

It can help cover things like customer notifications, credit monitoring services, and legal fees. This insurance is important for any business that handles sensitive information, like credit card numbers or personal data.

Employee Dishonesty/Fidelity Bond

When you hire employees, you trust them to do their jobs and be honest. But sometimes, employees might steal from your company or do something dishonest.

Employee dishonesty insurance, also known as a fidelity bond, helps cover the costs if an employee steals money, property, or other assets from your business. This insurance can give you peace of mind when hiring new employees.

Forgery and Alterations

Businesses often deal with checks, contracts, and other documents. Forgery and alteration insurance helps protect your business from financial losses if someone changes or fakes one of these documents. For example, if someone forges a check from your business, this insurance can help cover the loss.

Computer Fraud Coverage

As businesses rely more on technology, computer fraud can become a bigger problem. Computer fraud coverage helps protect your business from losses caused by someone using a computer to steal money, securities, or other property. This insurance can help you feel more secure about using technology in your business.

Money and Securities

When your business handles cash, checks, or other valuable items, you need protection from theft and loss. Money and securities insurance helps cover the costs if these items are stolen or lost, either on your business property or while being transported. This coverage can help you feel more confident about handling money in your business.

Secure Your Business's Future Today

Congratulations on taking the first step to understand the importance of insurance for your business. By choosing the right insurance policies, you can be confident that your hard work and investment are protected against potential risks.

Don't leave the future of your business to chance. Contact us today, and let our team of experts guide you in selecting the best insurance solutions tailored to your business's unique needs. As a business owner, you deserve peace of mind, and we're here to help you achieve it.