The state of Texas has requirements for what basic insurance a transportation company needs to carry in order to be compliant with the law. These types of insurance protect the business, its clients, and the public in the event of an accident or other property loss event.
Full commercial transportation insurance in Texas includes:
- Automobile liability insurance
- Cargo insurance
- Workers Compensation / accident insurance
Automobile Liability Insurance
A commercial automobile liability insurance policy covers damages resulting from the operation of your commercial vehicle. Both the injuries of others and property damage are covered. Each vehicle in a commercial fleet that carries less than 26,000 pounds needs to have at least $300,000 dollars of liability coverage, and a vehicle that carries more than 26,000 pounds needs a minimum of $500,000 dollars of liability coverage.
Cargo transportation insurance in Texas covers the damage or loss of the contents of commercial vehicles in the process of being transported. With cargo insurance, you will not have to go into debt to pay compensation costs to a client.
Accident insurance for your employees covers the medical care for an injury that occurs in the course of performing job duties. It also compensates for wages that are lost because the employee is not able to work. This protects employees from having a work injury destroy their personal finances.