AÂ box truck has an enclosed cargo space that protects your goods from damage or theft. Whether you operate long distance or short distance, you can run into a risk of unexpected accidents. That is why you need California box truck insurance. This insurance will cover bodily injury, property damage, and medical expenses.
The California box truck insurance requirements are similar to commercial auto insurance. A box truck should have minimum liability insurance coverage to operate legally on the state's roads. The requirements include:
$15,000 bodily injury for each person
$30,000 bodily injury in each accident
$5,000 property damage in each accident
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
General liability insurance for California box truck businesses covers day-to-day risks such as property damage, customer injury, or advertising injury.
Bodily injury–If a customer or employee is injured by your truck. The Insurance will cover the medical expenses and associated legal fees
Property damage–The box truck can be involved in an accident and cause damage to surrounding buildings or fences. The Insurance will provide coverage for repair or replacement costs
Personal injury–A customer or third party can claim that your business operations have caused them harm. They can sue your business for defamation, and your insurance coverage will cover the damages and legal fees
Advertising injury–Your business can be accused of false advertising or copyright infringement. The general liability insurance will cover the damages and legal fees
General liability insurance for box truck businesses has a $1 million-$2 million per occurrence and aggregate limit. It’s possible to get higher payouts if the company allows for policy customization.
Some insurance companies may impose exclusions in their insurance policy. For instance, some policies may exclude compensation for criminal activities or other intentional acts. Discussing the possible exclusions and limitations with an insurer would be best.
No, businesses in California are not bound by law to have general liability insurance coverage. But to protect your company against devastating costs that may occur due to a liability claim, you need to have a valid insurance cover.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| HIPAA coverage included? | No | No | No | No | No |
| Sexual misconduct coverage included? | No | No | No | No | Can be included |
| License defense coverage included? | No | No | No | No | Can be included |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
You can make omissions and errors if you are in the truck business. For instance, overlooking important information may lead to damage. You will require superior expertise and knowledge if your business offers freight management or transportation services. In case of any errors or negligence, customers can sue you. Some of the instances, when professional liability insurance comes in handy, include:
Errors or negligence–Your business can unintentionally create the wrong schedule as cause delays when offering box truck services. The coverage will cover legal fees and settlements
Breach of contract–Your business may breach a contract with a customer, resulting in damages and financial losses. The liability insurance will provide coverage for associated legal fees and settlements
Small California box truck businesses that provide essential freight management services may be able to obtain coverage limits of $100,000 to $500,000
Larger California box truck businesses that provide more complex transportation logistics services may enjoy coverage limits of $1 million or more
California box truck businesses that work with high-value or hazardous cargo may enjoy even higher coverage limits, potentially ranging from $5 million to $10 million or more
General liability insurance covers bodily injury or property damage to third parties. In comparison, professional liability insurance covers financial losses due to errors or omissions.
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| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $340,000 | $25,000/$500,000 | $35,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $35,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Commercial property insurance protects your business against inventory, equipment, or building. The damage can be due to risks such as fire, theft, or natural disasters. This can be bundled with general liability insurance in a BOP.
Small California box truck businesses with a single truck and limited equipment may obtain coverage limits of $100,000 to $500,000
Larger businesses with multiple trucks and equipment may need coverage limits of $1 million
California box truck businesses that own or lease a physical building or structure may need higher coverage limits, ranging from $1 million to $10 million
Yes, commercial property insurance policies can be customized to meet the specific needs of a box truck business. This may include adding endorsements or riders to cover specific risks or increasing coverage limits and deductibles.
Once you discover a damaged asset, contact your insurer. Most insurance providers require you to have evidence, such as photographs. With the evidence, you can confidently support your claim.
