Companies such as FedEx ISPs and Amazon DSPs must always be up to date on their liability insurance policies. Delivery companies run a higher risk than the average driver of being involved in an accident. As the owner of such a company, you may first think that an accident with your delivery vehicle will always be fully covered by your standard insurance coverage. Sometimes that is simply not the case. You can never fully predict how serious an accident can be. Therefore, it is safest for all established companies to have the best possible insurance coverage.
There is a common myth that unless the accident involves a death, you will be completely covered. But who's to say that a bad accident with serious injuries but no deaths would not cost more than a million dollars? Accidents can be serious incidents that can be extremely costly to repair. It is not only vehicle damage but also property damage and medical bills that can result in millions of dollars in damage.
Accidents are less likely to result in death with increased safety features, but the likelihood of serious injury during the accident has increased. Just think of head trauma alone: when it happens, the medical bills skyrocket compared to broken bones.
So what does all this have to do with truck insurance? Well, combine all these circumstances with only regular insurance coverage, and you will have an extremely expensive bill to pay.
Since every accident should always be taken seriously, no matter how big or small, your company must be aware of the most common accidents involving trucks. This way, your company can take all the precautions you can to make sure they do not happen to your drivers.
The four most common accidents you should prepare for are:
- Drivers who forget to set the truck's parking brake ̵
- Failure to yield – If the truck turns or collapses, the driver should always allow other vehicles to pass before entering traffic
- First time drivers, drunk drivers and tired drivers – About your drivers falling into any of these categories (which hopefully they never do, especially driving drunk or overtired), significantly increases the risk of an accident, especially a serious one. It is important to take all precautions to avoid these situations.
- The load is not secured properly – All packages, large or small, if not secured properly can quickly slide around the back of the truck and change the weight distribution of the load. This is something that is very important and comes into play when these trucks make big turns.
The reality of not having proper insurance coverage for trucks can look like this: hundreds of thousands of dollars in medical bills, legal fees, lost revenue and other related expenses. Although advances in automotive technology have made cars safer and continue to do so every year, there is still a real risk of serious personal injury or death. We hope you hear our message and make sure your FedEx ISP or Amazon DSP business is properly insured with the best possible liability insurance. To discuss your current coverage, please call our office today at 860-453-0116.