When it comes to insurance there is a long list of different policies that you can take out to cover different things. With household, health and auto insurance this is generally easy and you can just pick and choose what you want. When it comes to business insurance, however, there is the sticky situation of insurance when you are not using items for official business purposes. This is especially important when it comes to company vehicles like trucks. Bobtail insurance has been designed for that very reason, and if you are a truck operator then you need to know more about it.
What is bobtail insurance?
Bobtail insurance, or bobtail liability, is a term referring to the insurance of a truck while the truck is not being used for official business. This includes times when truckers take their vehicles home or when they are not transporting cargo for official purposes. Essentially it is everything else that you do with your truck while not on the job.
What does it cover?
Traditional insurance only covered accidents or damages that happened during “office hours”, which in this case is transporting of goods. This so called non-trucking insurance covers damages that happen when not on official business. This includes driving home, stopping at the store, running errands or just taking a scenic drive.
Why is it important?
Bobtail insurance is important because it covers you while not at work. If you are an independent operator then chances are you will have to take the truck home with you. You also may not have an alternative vehicle to use as a go between. Since you will be in the truck for longer periods, some of which is not for business reasons, you need to be covered. Not having this type of insurance can mean serious financial trouble that can affect both your business and personal bank accounts.
How do you get it?
Many people haven’t heard of bobtail insurance and this is because many of the well known insurers either don’t offer it or choose to push more profitable policies when advertising. The insurance companies that specialize in vehicle, heavy duty vehicle or business insurance will usually be able to offer to non-trucking insurance. All you have to do is find a big company near to where you work and reside, and have a look at the coverage and policies that they have to offer.