Explain deductibles and policy limits for CDL insurance (1)

1

• Explain deductibles and policy limits for CDL
  insurance
• If you are a new CDL driver, understanding
  insurance policies can seem overwhelming. After
  all, there are many terms, coverage types, and
  fine print to navigate. Two of the most important
  concepts are deductibles and policy limits - and
  getting them right is crucial for protecting your
  trucking business.
• Policy Limits What Every New CDL Driver Should
  Know
• They are expressed as two numbers separated by a
  slash, such as 50/100 or 100/300. The first
  number represents the maximum amount the
  insurance company will pay per person for bodily
  injury, while the second number represents the
  maximum amount the insurance company will pay per
  accident for bodily injury.
• Understanding policy limits of Insurance for New
  CDL Drivers, as inadequate coverage can leave
  them financially vulnerable in the event of a
  serious accident. When
• selecting CDL insurance, it is essential to
  choose policy limits that provide sufficient
  coverage based on the nature of the driving job,
  the value of the cargo, and other
• relevant factors.
• Liability Coverage Covers third-party costs if
  you are at-fault in an accident, like other
  vehicle damages, injuries, or environmental
  cleanup.
• Physical Damage Coverage Covers repair or
  replacement of your own truck after an incident
  like collision, fire, theft, or jackknifing.
• Non-Trucking Liability Covers personal use of
  your commercial vehicle when you are not working.
• Motor Truck Cargo Covers the costs of damaged or
  stolen cargo loads you are
• hauling.

2

• How Do Deductibles and Limits Work Together?
• Deductibles and policy limits work together to
  determine how much you and your insurance
  provider pay after an incident
• Your policy limits are the maximum your insurance
  will pay toward a covered
• claim.
• Any costs exceeding your deductible amount are
  paid by your insurance up to the policy limits.
• If total expenses exceed your policy limits, you
  are responsible for paying the remaining amount.
• Truckers General Liability Insurance Protecting
  Your Business
• In addition to standard CDL insurance coverage,
  truckers often require Truckers General Liability
  Insurance to protect their business from
  third-party claims of bodily injury or property
  damage. This type of insurance provides coverage
  for legal fees, medical expenses, and damages
  awarded in lawsuits resulting from accidents
  involving the insured truck.
• Truckers General Liability Insurance is
  especially important for new CDL drivers
• who may be unfamiliar with the complexities of
  commercial driving and the potential risks
  involved. By securing adequate general liability
  coverage, drivers can safeguard their livelihood
  and protect their assets in the face of
  unexpected legal challenges. As insurance
  specialists for the trucking and transportation
  industry, Southwestern Insurance has deep
  expertise helping new CDL drivers navigate
  deductibles, policy limits, and all aspects of
  commercial truck insurance. Our dedicated agent
  team will take the time to understand your
  business's operations, hauling needs, budgets,
  and risk

3
exposure. We'll then custom-build an insurance
program with appropriate coverage limits and
affordable deductibles aligned with unique
requirements of your company.