As a truck operator, you are responsible for the safety of your cargo, yourself, and other motorists. If you consider the requirements and expectations placed on motor carriers by the federal government, you are also responsible for the environment. There are many types of insurance policies that can be used to protect your company, but the Motor Carrier Act of 1980 establishes minimum requirements of bodily injury, property damage, and environmental restoration coverage. Your coverage should carry an MCS 89 or 90 endorsement, as they identify that you have met federal regulation demands.
According to the information found on https://www.truckinsure.com/, the nature of an MCS 90 endorsement is that funds will be made available to cover the liability costs associated with events where loss is incurred. As a comparison, the endorsement is more of a surety bond, where an entity will provide relief funds on the part of a driver. Traditional routes of insurance would require truckers of firms to present coverage limits upwards in the millions, and yet many small carriers and operators would be unable to financially acquire such a policy.
Liability Coverage Areas
In the event of an incident, the insurance policy (and additional endorsement) should include the following areas:
- Pollution liability
- Bodily injury
- Property damage
The company that you use for your MCS 90 endorsement might offer a more broad extension of coverage as well as more complex ways of addressing drivers on the policy, a notice of cancellation, and both scheduled or unscheduled autos.