Question around matchless commercial truck insurance?
I am a trucker who sometimes "brokers" loads onto a 3rd party truck. This creates a contingent liability exposure for me. Where can I purchase liability for this brokered load exposure? Are near any attorney's our there that know about the "Schramm Decision"?
Answers:
Best entry to do is have the third party record you as additional insured . . .
check with ooida...owner operator independent drivers association they across the world have pretty fair rates.....
Since you don't own the trucks, I would recommend have a hold harmless agreement with the owner hand thus transferring the liability to them. If the owner operator balks you could tell them to enjoy the Excess Coverage for Named Insured endorsement added to their policy which should cover the contractual liability assumed by the owner operator.
I would also recommend you require your hired drivers to own Bobtail Coverage. This will give them "non-trucking" liability and another layer of protection for you.
Depending on the form your Trucker's Policy is written on you may own liability coverage already (I would read the Who is an Insured defintions in your policy closely to make this determination). You can join the owner operator onto your policy as an additional insured for the duration of the agreement.
There are several ways to approach this issue. It depends on your policy form and what you are trying to accomplish.
I am foreign with the Schramm Decision. Source(s): Personal knowledge. I'm surrounded by the insurance industry.
Related Questions:
Answers:
Best entry to do is have the third party record you as additional insured . . .
check with ooida...owner operator independent drivers association they across the world have pretty fair rates.....
Since you don't own the trucks, I would recommend have a hold harmless agreement with the owner hand thus transferring the liability to them. If the owner operator balks you could tell them to enjoy the Excess Coverage for Named Insured endorsement added to their policy which should cover the contractual liability assumed by the owner operator.
I would also recommend you require your hired drivers to own Bobtail Coverage. This will give them "non-trucking" liability and another layer of protection for you.
Depending on the form your Trucker's Policy is written on you may own liability coverage already (I would read the Who is an Insured defintions in your policy closely to make this determination). You can join the owner operator onto your policy as an additional insured for the duration of the agreement.
There are several ways to approach this issue. It depends on your policy form and what you are trying to accomplish.
I am foreign with the Schramm Decision. Source(s): Personal knowledge. I'm surrounded by the insurance industry.
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