The following are additional optional truck insurance types not required by the FMCSA or the States, but which some truckers find attractive and worth the money. Usually these policies aren't very expensive and can be added as riders to existing policies.
These optional truck insurance policies play to individual preferences and pet peeves, and some will seem significant enough to purchase for "peace of mind," while others will appear frivolous and not worth the money, depending on the personality and attitudes of the individual trucker.
- Breakdown Insurance Coverage - Breakdown coverage helps to pay for towing and labor expenses of unexpected and expensive breakdowns while on the highway not covered by other policies.
- Personal Property Coverage- Insurance for the protection of personal property carried in your truck that is not covered under any other insurance policy, such as expensive personal electronics, clothing, jewelry and so on.
- Depreciation Coverage - Protects owners of expensive new trucks and equipment from huge depreciation in its value in the first few years of ownership.
- Gap Coverage - Insurance coverage providing protection for the difference between your truck loan payoff and the actual market value in the event of a total loss by collision.
- Supplemental Towing and Clean-Up - Insurance offering coverage for towing needs and expenses from the scene of a covered accident or loss and cleanup to help offset the cost of removal of debris and cleaning of the vicinity of an accident.
- Auto Rental Reimbursement - Provides reimbursement for a rental vehicle to replace your vehicle while it is inoperable due to a covered loss under its physical damage policy.
- Optional Downtime Coverage - Additional protection for periods of downtime caused by repairs necessary as a result of a covered physical damage claim. Usually offers a per diem benefit of a few hundred dollars with an upper limit of $20,000
The truth of the matter is that if you want insurance to protect something, no matter how eccentric or off-the-wall, you will probably be able to find some company willing to write it-if you look hard enough--as what is called a "scripted" policy (meaning original and one of a kind).
For instance, Marilyn Monroe is rumored to have insured her legendary legs (and other physical assets) for millions of dollars! Elvis too is rumored to have insured some pretty weird things, including his "blue suede shoes!" One can almost imagine a trucker insuring his favorite stuffed animals or CD's or pet canary that travels with him on long hauls. Few professions have more independent, colorful "characters" than trucking. And one man's trash is another man's treasure.