New Hampshire Truck Insurance

New Hampshire Commercial Truck Insurance

Understanding New Hampshire Trucking Insurance Coverages

• Auto Liability

  Auto liability insurance is required for commercial trucking companies operating in New Hampshire. This coverage helps pay for damages if one of your trucks is involved in an at-fault accident that leads to property damage or injuries. For example, if one of your semi trucks rear-ends a passenger car, your auto liability insurance would pay for the damage to the other vehicle as well as any medical bills for the occupants if the accident was caused by your driver's negligence. New Hampshire requires minimum auto liability limits of $750,000, which is higher than most states due to the increased risk posed by large commercial vehicles. It’s important for trucking companies to carry adequate coverage in case a major accident occurs.

• Physical Damage

  Physical damage coverage, sometimes called comprehensive and collision coverage, pays to repair or replace your own commercial trucks if they are damaged. For example, if one of your semi trucks is involved in an accident caused by another driver and sustains $50,000 in damages, your physical damage coverage would pay to repair your truck regardless of fault. It also covers damage your trucks suffer from non-collision events like fires, floods, vandalism, or even hitting a deer. This coverage is important for protecting your business assets - your commercial vehicles. New Hampshire does not require physical damage coverage, but it is highly recommended as replacing or repairing heavy trucks is very expensive. Many truck leasing companies or lenders even require you carry this coverage. Having adequate physical damage makes sense, even with well-maintained trucks and experienced drivers. Accidents and other damage happen, so protecting your assets can prevent major out-of-pocket costs.

• Motor Truck Cargo

  Motor truck cargo insurance protects trucking companies against damage or loss of the cargo they are transporting. For example, if one of your semi trucks is hauling a load of computers from Boston to Concord valued at $150,000, motor truck cargo would cover the cost if those computers were damaged or stolen while in transit. Cargo coverage usually includes perils like theft, vandalism, accidents, and sometimes even weather events. Just like your trucks are valuable assets, oftentimes the cargo you haul is also high value. This coverage helps pay your customer for their lost freight - even if the cause was out of your control. Work with an experienced insurance advisor to determine the typical load values you transport to buy adequate protection. This coverage is especially important for New Hampshire-based carriers hauling high-value products in or out of Canada.

• Reefer Breakdown

  Reefer breakdown endorsement covers the loss of perishable products in the event that a refrigeration unit malfunctions during transit. For trucking companies specializing in temperature-controlled freight, this is an essential coverage. For example, if you are hauling $80,000 worth of seafood cross-country, and your refrigeration unit stops working due to mechanical issues, reefer breakdown coverage would pay for the spoiled cargo. Make sure any policy has adequate temperature monitoring and evidence standards in case you need to file a claim. Given the high frequency of long hauls for NH carriers and the importance of healthy reefer units, reefer breakdown coverage provides peace of mind that a single mechanical issue won’t upend your business.

• Non-Owned and Trailer Interchange

  Non-owned trailer coverage protects trucking companies when their drivers are pulling a trailer not owned by the trucking company. For example, if you only own tractors and haul freight in trailers owned by shipping customers, this coverage will pay for damage to those non-owned trailers in your care and custody. Trailer interchange insurance covers the same exposure when two trucking companies agree to use each other’s trailers for better efficiency. If a driver picks up a load using another carrier's trailer, this insurance covers them if the borrowed trailer sustains any damage while hauling freight. These coverages fill insurance gaps for situations where you don’t own the trailer your driver may be liable for. Trailer values can be substantial, so having non-owned trailer or interchange coverage limits adequate to replace most standard trailers is wise. This coverage is common for New Hampshire-based trucking firms engaging in interchange agreements to transport freight into Canada.

• Non-Trucking Liability

  Non-trucking liability coverage, often called bobtail insurance, protects truck drivers when they are not hauling cargo or en route to pick up a load. For example, if you are driving your rig to a repair shop or heading home after delivering your last shipment of the week in New Hampshire, non-trucking liability insurance would provide coverage in case you were involved in an at-fault accident. Without this supplemental insurance, you could be personally responsible for injuries or property damage from any crashes that occur when your truck is being used for non-business purposes. Non-trucking liability fills this gap to give New Hampshire truckers necessary protection even when a trailer is not attached. For owner-operators and other trucking professionals in the state, it's an affordable way to help safeguard your finances.

• Excess Liability

  Excess liability insurance provides additional coverage above and beyond what your primary liability policy covers. For example, if you cause an accident with over $1 million in damages but your underlying liability only covers up to $1 million, excess liability would kick in to cover the difference. For New Hampshire truckers carrying hazardous materials or other high risk cargo, having excess liability protection ensures you won’t be personally responsible for catastrophic accidents.

• Workers Compensation

  Under New Hampshire law, all employers must carry workers compensation to cover injuries, disability, and death benefits for employees who get hurt on the job. For trucking companies based in or operating within the state, having a workers comp policy protects both your drivers and your business finances from being drained due to work-related illnesses, trauma, long recovery times, and related expenses. This coverage is essential for risk management.

• Occupational Accident

  Occupational accident insurance goes above and beyond workers compensation to also cover injuries that occur during the normal course of work but may not meet the strict eligibility rules of a workers comp claim. For truck drivers, this could include strains from loading cargo, slips climbing in and out of the cab, accidents during training, and more. This extra protection provides wage replacement and death benefits in unfortunate situations not covered under standard policies.

• General Liability

  General liability insurance is essential for almost any business, including commercial trucking companies based in New Hampshire. It shields your enterprise from financial hardship if you are sued for bodily injury, property damage, personal injury or advertising injury. For truckers, having sufficient general liability limits ensures you won’t lose your business over accidents occurring from non-truck events - like a customer slipping and falling in your office. This coverage is a must, even with proper auto insurance.

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