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FAQ
FAQ: Your Guide to Truck Insurance
Commercial trucking insurance made simple. Find answers to common questions to help you make the best choices for your business. Our expert guidance ensures you have the right coverage to protect your assets and stay compliant.
1. What is insurance, and why do I need it?
Insurance is a financial product that provides protection against financial losses in the event of unforeseen circumstances, such as accidents, damage, or illness. It helps mitigate risk and ensures that you are not burdened with large, unexpected expenses. You need insurance to protect your assets, safeguard your business, comply with legal requirements, and provide peace of mind.
2. What types of insurance policies do you offer?
We offer a wide range of commercial Trucking insurance policies to meet the specific needs of businesses and individuals in the trucking and logistics industry, including:
- Primary Truck Liability Insurance: Covers accidents where you’re at fault.
- Physical Damage Coverage: Protects against vehicle damage.
- Cargo Insurance: Safeguards goods during transit.
- Occupational Accident Insurance: Covers work-related injuries and expenses.
- General Liability Insurance: Protects against lawsuits and damages.
- Trailer Interchange Insurance: Covers damage to trailers you don’t own.
- Excess Liability Coverage: Offers extra protection beyond standard policy limits.
3. How do I choose the right insurance policy for my needs?
Choosing the right commercial Trucking insurance policy depends on factors such as the type of business you run, the level of coverage you need, and the risks you face. Our experienced advisors can guide you through the process by evaluating your unique requirements and recommending policies that provide adequate coverage and protection. We tailor our offerings to suit your individual or business needs, ensuring you only pay for the coverage you need.
4. What factors affect my insurance premium?
Several factors can influence your insurance premium, including:
- The type and amount of coverage you choose
- Your business size, industry, and location
- The level of risk associated with your business activities
- Claims history and loss experience
- The value of the assets you want to insure
- Your deductible amount
We work with you to find the right balance of coverage and cost, ensuring your premiums are competitive.
5. Can I have multiple policies with your company?
Yes, you can have multiple policies with our company. Many businesses choose to bundle their commercial trucking insurance policies to streamline coverage and potentially reduce costs. We offer flexible options to ensure all your insurance needs are met under one trusted provider. Our team can help you create a customized insurance package that covers all aspects of your business or personal needs.
6. How do I submit my insurance documents to Amazon Relay?
During the Amazon Relay onboarding process, you’ll be asked to provide your insurance company details for all required coverages. Once your account is set up, you can update your commercial trucking insurance information anytime by navigating to the Insurance section in your Amazon Relay account. Amazon will place your request in a pending status while they verify the details with Registry Monitoring Insurance Services (RMIS).
7. What happens to my Amazon Relay account if my insurance coverage lapses?
If your insurance coverage lapses, your Amazon Relay account will be deactivated until you provide proof of active insurance coverage that meets their requirements. Registry Monitoring Insurance Services (RMIS) monitors the insurance, and the Certificate of Insurance (COI) must be sent to them with RMIS listed as the certificate holder. To avoid deactivation, ensure your policy is renewed on time and that RMIS has the updated commercial trucking insurance documents in their system.
8. Can I use personal vehicle insurance for Amazon Relay?
No, personal vehicle insurance does not meet the requirements for Amazon Relay. You must have commercial vehicle insurance that meets Amazon's minimum coverage limits for auto liability, cargo, general liability, and trailer interchange.
9. Do I need insurance if I am subcontracting owner-operators under my authority for Amazon Relay?
Yes, you need insurance if you are subcontracting owner-operators under your authority. Owner-operators own their trucks and lease them to a company that holds the necessary insurance and permits to operate. In most cases, the owner-operators must include their trucks in the insurance policy of the carrier they are leasing to, covering liability, cargo, workers’ compensation, or occupational accident insurance, if required.
- Commercial General Liability of at least $1,000,000 per occurrence and $2,000,000 aggregate.
- Auto Liability of at least $1,000,000 per occurrence, including $50,000 for trailer replacement coverage.
- Cargo Coverage of at least $100,000.
- Workers’ Compensation Insurance in all jurisdictions where the company operates.
- Employer Liability of at least $100,000 per occurrence.
10. Does Amazon Relay require a specific insurance provider?
No, Amazon Relay does not require a specific insurance provider. Currently, Amazon does not mandate that the insurance company be rated by AM Best. However, the insurance policy must meet Amazon's coverage requirements.
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