Tanker trucks are heavy duty vehicles used for transportation of bulk cargo, liquids and gases. They can be used for many types of cargo, starting with liquids like milk and ending with hazmat. While tanker trucks can generate great income to their owners, it is important to protect them with tanker insurance. Such trucks are not easy to drive because of their high center of gravity.

Tankers require more stopping distance, slower turns, and greater following distances. Insurance companies are of course aware of these risks and some overcompensate with premiums that are too high. Finding the right oil tanker insurance company is crucial to your truck and your livelihood. Tanker truck can do extensive damage in an accident, which can lead to costly lawsuits. It is also an expensive vehicle, and repairing or replacing it might become a huge financial burden. That’s why it is so crucial to get reliable coverage for your tanker truck.

A major insurance cost factor is what you haul in your tanker. Hauling water a premium might be 9-12k per while hauling hazardous materials could reach 30-50k per year! Some of the most common tanker trucks are:

To make sure your truck’s repair or replacement is covered, you should also get physical damage insurance. It consists of two types of coverage. The first one is collision insurance that will pay if your truck has been in a crash, collided with another object or overturned. The second coverage is comprehensive insurance, which will pay for the damage from non-collision incidents.

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.