We all know that this economy has negatively affected the values of our homes, trucks, trailers and commercial equipment. But have you adjusted the values on your truck insurance policy? We are seeing too many of our clients keeping outdated stated values on their truck insurance policies. Then when there is a big loss, they are shocked to find out that their truck or trailer is not worth what it used to be worth. Don’t hesitate to call your broker if you are worried. Don’t wait until there is a claim.
Another issue is flexibility. Once you put your permit in voluntary withdrawal, it will usually take at least a few weeks to get your permit active again once you file the necessary paperwork. The California DMV is notoriously backlogged with work and your request may sit on someone’s desk for many days before being processed. So I always recommend to my clients that they plan ahead when getting ready to go back to work. Allow for at least 2 weeks when bringing their permit out of voluntary withdrawal just in case. If they get a call to haul a load, they could have their truck impounded if they operate without a valid motor carrier permit
One of the issues to consider is your commercial auto insurance. In order to keep your CA# active, you need to keep your liability insurance on file with the DMV. The benefit we see with many seasonal truckers is that if they put their permit in voluntary withdrawal, they are able to cancel their insurance or drop the liability coverage for the off season. This can save you a lot of money when your business is not producing income. Just make sure you talk to your insurance agent and make sure they understand what you want to do. A good agent will walk you through the process and tell you how to get the insurance going when your business resumes.
Leonard Shoen established this truck rental company and owned by AMERCO, a holding firm that also runs Amerco Real Estate, Oxford Life Insurance and Republic Western Insurance. The rental fleet of U-Haul includes trailers, trucks and different other vehicles and equipments.
Commercial truck insurance provides the online truck insurance policy for your commercial trucks.arizona truck insurance Get the fast and best commercial truck insurance quote in California ca, na Nevada Trucking Insurance with us,Commercial truck insurance and get a FREE truck insurance quote. Call 1-800-513-3135.
