Working With a Transportation Insurance Broker
In order to run a trucking business, you need both liability insurance and physical damage insurance to protect your fleet. An auto liability insurance broker can work with you to obtain the coverage you need at the best price.
What Does an Insurance Broker Do?
An insurance broker is a licensed professional who works as your representative in the insurance market. The broker’s duties include doing the legwork that you would typically have to do yourself, such as researching insurance companies, policies, and prices. An insurance broker will gather that information for you and explain your options to help you choose the policy that’s best for you.
What Is the Difference Between a Broker and an Insurance Agent?
An insurance agent is a sales representative who represents a specific insurance company. In other words, insurance agents will only sell you policies offered by the company that they work for. Unlike an insurance broker, an agent will not shop around to all the different companies and help you find the best price.
Why Should You Work With an Insurance Broker?
Running a trucking business entails special risks unique to the industry. Therefore, it may be difficult to find a traditional policy that will cover your safety-critical risks. An insurance broker will be able to work with a wholesaler to obtain the specialized coverage that you can’t find elsewhere.
At a minimum, commercial trucks are required to have liability insurance by law. Working with an auto liability insurance broker is the best way to obtain this coverage at a favorable price.