The transportation industry is a critical part of the country’s economy, helping to transfer people and cargo around from place to place. However, accidents can happen, and insurance is critical in helping to recover financial damages and keep operations running smoothly. There are many different types of transportation insurance in New Jersey.
First of all, general liability is important to have for a wide range of possible disasters. Coverage for physical damage to a vehicle is imperative in case of collisions or crashes, and cargo insurance should protect you if the freight you’re carrying is lost or ruined. If one of your employees is injured in an accident, you need to have workers compensation to help get them back on their feet and to protect your company from lawsuits.
If the accident is the fault of your company or one of your drivers, primary auto liability will help to pay for the damage. Hired and non-owned auto insurance helps protect you if something goes wrong while using a vehicle that belongs to another vehicle or company.
Garage insurance is another important component, since most collisions occur while vehicles are being parked or initially started. You can even get insurance for other, non-vehicular forms of transportation, such as inland marine shipping.
A good insurance program might cover multiple or even all of these types of insurance. Transportation insurance in New Jersey can protect your assets and keep your business running.