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Secure Your Business: Shield Your Expedited Trucking Operation from Uninsured Motorists!

Secure Your Business: Shield Your Expedited Trucking Operation from Uninsured Motorists!

By Kelsea Eckert
Posted Aug 15th 2023 7:35AM

Are you fully prepared to defend your expedited trucking business against the risks posed by uninsured drivers? Don't leave it to chance—take action now! It's time to gear up with comprehensive UM/UIM insurance coverage specifically tailored for your valuable commercial equipment. If you're unsure about your current coverage, it's crucial to reach out to your trusted insurance agent today. Let's dive into the essential acronyms that can safeguard your livelihood:

UMPD: Uninsured Motorist Coverage for Property Damage

UIMPD: Under-Insured Motorist Coverage for Property Damage

UMBI: Uninsured Motorist Coverage for Bodily Injuries

UIMBI: Under-Insured Motorist Coverage for Bodily Injuries

Maximize Protection: Should You Add Uninsured and Underinsured Insurance Coverage for Your Equipment?

In the fast-paced world of expedited trucking, it's no secret that countless motorists are cruising the highways with subpar or no insurance coverage at all. As an owner-operator, the potential losses resulting from an accident can skyrocket in the blink of an eye. That's why it's absolutely crucial to fortify your commercial vehicle insurance policies with robust UM/UIM coverage. By consulting your knowledgeable commercial insurance agent, you can gain clarity on the specific coverage options that will shield you and your valuable assets from the hazards posed by uninsured and underinsured drivers. The best part? This invaluable protection may come at a more affordable cost than you might expect.

Real-World Example: Unleashing the Power of Under-Insured Property Damage Coverage

Picture this scenario: You're Jeremy, a dedicated owner-operator who specializes in expedited loads. Unfortunately, you find yourself entangled in a traffic accident with a young driver who carries a measly $10,000 in property damage insurance coverage. Suddenly, your promising day turns into a nightmare, as the total damages skyrocket to $40,000—$10,000 for repairs and a staggering $30,000 for lost income during the equipment's downtime. But here's where the game changes: While the at-fault driver's insurance company reluctantly agrees to pay their policy limits of $10,000, that amounts to just a paltry 25% of the overall damages.

In this daunting situation, what are your options? Desperate for a solution, you turn to your trusted insurance agent and a skilled attorney for guidance. And lo and behold, you discover the true power of your policy—the inclusion of Under-Insured Property Damage coverage (UIMPD). With a newfound sense of hope, you file a claim with your own insurance company for the remaining $30,000 in losses that the at-fault driver's insurance won't cover. And guess what? Your perseverance pays off, and you're awarded full compensation for the repairs and lost income incurred during the equipment's repair process. Thanks to your UIMPD coverage, you're not only back on track but stronger than ever before.

Stay Ahead: How to Immediately Safeguard Your Expediting Business

Now, more than ever, it's vital to adopt a proactive stance and address your concerns head-on. Engage in a detailed conversation with your commercial insurance agent to explore the multitude of options available to you—UMPD, UIMPD, UMBI, and UIMBI coverages should be at the forefront of your discussion. With the ever-increasing number of drivers on the roads carrying insufficient insurance, it falls upon you to shield your precious business and safeguard the well-being of your loved ones. By taking these precautionary measures, you can steer clear of potential financial risks that could otherwise be devastating.

In Need of Legal Support for UM or UIM Claims?

Rest easy—help is just around the corner. Seek out a reputable attorney who focuses on the trucking industry and possesses a deep understanding of commercial insurance claims. Look for a legal expert who operates on a contingency fee basis, meaning they only collect a fee if they successfully recover money on your behalf. With a skilled attorney by your side, you can confidently navigate the complexities of UM/UIM claims, ensuring your rights are protected and justice prevails.

Don't wait for another accident to happen—take the wheel of your business's destiny and secure your expedited trucking operation against the perils of uninsured motorists. Your success and peace of mind depend on it!

The information in this article is general in nature and does not constitute legal advice.