What’s Optional Downtime Coverage for Trucking Insurance Plans?

Customizing your trucking insurance is very important. The way you use your truck and operate your business is not the same as other drivers. More so, you know how important it is to you to keep your truck on the road and working for you. Yet, problems do happen. If you have the right type and amount of trucking insurance, you don’t have to worry about those instances where you can’t be on the road. One way to protect against this type of risk is with an endorsement called optional downtime coverage.

What is It?

Optional downtime coverage, sometimes called just downtime coverage, provides you with financial protection in situations where it is going to be some time before you can get your vehicle back on the road. Let’s say your vehicle was involved in an accident. You’ve already sent in your claim for the repairs and it’s being processed. Your vehicle is getting repaired but it is taking time. That’s time you are losing money.

With downtime, you can submit a claim to your trucking insurance provider to request financial compensation for that extra time and money lost on the road. That can be a very important benefit for businesses and owners.

Why You Need It

There are many instances in which you’ll wish you have a specific type of coverage or put in place some additional help. However, this type of insurance just makes sense.

• It can provide additional financial protection for long periods of downtime due to repairs. There’s no way to know how long it will take.
  
  
• It can provide an ample amount of coverage. Policy options range from $300 a day and up. Most have an upper limit.
  
  
• You can count on these funds to keep your business operational and debts paid even though you cannot deliver.

With downtime coverage, you gain a bit of financial protection and peace of mind. That’s important in the complex insurance world. With the help of the right trucking insurance, you can keep maintaining profitability while reducing your financial risks even when you are facing expensive losses from accidents, extended downtime and repair costs. Customize your plan to include this type of coverage to safeguard your business.