Dispatcher Training


Lesson One. Insurance. Hi guys. In this video, we will explain clearly about insurance for your truck business. The procedure for obtaining insurance for a truck business is actually very simple and will take you some time to get it done successfully. There are a large number of insurance companies in the USA with different insurance conditions and requirements for various companies. The leading company in the truck insurance business is Progressive. This company has loyal conditions. To get started, you can find a company that provides insurance services in your state on Google. Usually on the company’s website, there’s already an application form that you fill out. Your first name, company name, company address, company phone number, and email.

After filling out this form, an insurance agent will contact you shortly requesting the following information, company name, company address, MC and DOT number, driver’s license of a driver who will work for your company, model, year of production of the truck and trailer, Vin check number. Of course, each company may have additional questions, but these are the basic information the insurance agent will require. After receiving the necessary information from you, the agent will provide you with quotes and the cost of insurance you’re applying for.

Your insurance policy consists of several components such as liability insurance. This carriage was damaged by you in the result of an accident or damage to a property that does not belong to you. For example, a building, bridge, car and so on. The price of liability insurance depends on the area where a company is located. Physical demographics insurance. This covers what was destroyed by you as a result of an accident and the property destroyed or damaged belongs to you. This could be your truck and trailer. The price of physical demographics insurance is directly related to how much a truck and a trailer cost and it is calculated using a 4% ratio. That is, if a truck and trailer cost $100,000, then the price will be $4,000 per year. If the truck and trailer costs $20,000, then the price will be 800 per year. It is important to note that the percentage should not be below 2.7%. And it depends on the amount of insurance property but not on the number of trucks.

Cargo insurance. This covers the cost of cargo and it depends on the amount of coverage. Medical Insurance. This covers the costs of treatments received in the hospital sustained in an accident. The coverage is small, but costs little. The cost of insurance depends on many factors. The first factor is a pure driver record. That is, if earlier the driver had violations of driving rules, then the cost of insurance for such a driver would be higher.

The second factor is the driving experience of a driver. The less experience, the higher the insurance and quotas. There are also situations where you have worked for a certain period and you have an accident. You can submit a claim to the insurance company. That is, ask about the insurance payment. Be ready than after the claim, your insurance grows by 40%, 50% from the next insurance period. Therefore, we do not recommend initiating a claim if the situation is not critical. Simple and affordable procedure. See you in the next video.

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