Working your way away from the big businesses of the trucking industry and taking on the role of an owner-operator is one rewarding way to be your own boss and earn a lucrative income. However, when you take on this new responsibility as the owner of your own small trucking business, it will mean that finding commercial insurance will become your personal obligation. Insurance for your business is available from two very different types of insurers: specialized and non-specialized. There are a handful of advantages to choosing a specialized trucking insurance company as an owner-operator.
You always get familiarity with the industry on every level.
As a business owner, it is vital that your insurer understands your needs to the fullest extent. An insurance company that specializes in coverage for truckers will most likely have this to offer. Insurance agents in a trucker's insurance company are trained in trucking rules and regulations, US DOT requirements, and various other levels of the industry. You can rely on the fact that agents will be just as knowledgeable about the trucking industry and your needs as an owner-operator as you are. Plus, with agent familiarity, you always have someone who can anticipate your needs and make recommendations about your insurance policy.
You will get timely attention during claim handling.
If you are insured with a regular commercial insurance agency that caters to all types of business, they may not quite understand how important it is for you to get timely attention after an accident. Possibly miles away from home, if your truck is damaged during a run, the longer you have to wait for a claims adjuster and repairs, the more money you lose. Specialized trucking companies make it possible for you to file a claim any time and even often have claims adjusters that work around the clock to take care of you after an accident.
You reap the benefits of flexible insurance products.
Being an owner-operator is a completely different world than working for a big trucking company because there will always be a lot of variables. You may not always be going the same routes, hauling the same product, or even needing the same level of insurance coverage. This is one thing that a specialized trucking insurer knows and anticipates by making it simple to make changes to your policy and knows the coverage options you may need at any given time.
For more information, contact a company like Western Reserve Group.
Share12 May 2016
Tax time comes around every single year. Do you file married jointly or separately? Do you claim your property taxes and medical bills? What about a home office and the expenses for it? Were there any changes in tax laws that you should be aware of? My site is filled with advice for small business owners for tax time. You will learn how to get the most from your return and what could trigger an audit or red flag on your tax forms this year. Hopefully, what I have included on my site will help at least a few small business owners get through tax time with less stress.
