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Part 4: Dump Truck Rental Reimbursement / Downtime Coverages

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Related Pages: Dump Truck Insurance, Motor Truck Cargo, Environmental Liability Coverage, Offseason Comprehensive Insurance

As the old saying goes, "If you're not hauling, the bill collectors start calling!".

Professional dump truck operators rely on the trucks they drive and the cargoes they haul for their livelihood. Maintaining their trucks and having the basic regulatory minimum of dump truck insurance helps keep them on the road. In the event of an accident, each day their dump truck is "down"  translates to a loss of income. Without a back-up plan, an extended length of time not hauling may be devastating. As a dump truck operator, can you afford to take such a risk?

Two dump truck insurance options drivers often overlook when choosing or renewing their policies are "Rental Reimbursement" and  "Downtime" coverages. These options prove invaluable when your dump truck is inoperable due to an accident or covered loss.  One or both can be added as endorsements to your dump truck Physical Damage insurance (PD), which is required for their addition. Some insurance companies include them within the PD policy, or offer them individually for an additional cost.

In general, both dump truck Rental Reimbursement and Downtime endorsements are designed to get you back on the road as soon as possible. They will pay you a specific amount for a set number of days after the accident while your own truck is down.

A Rental Reimbursement endorsement does as its name implies. It covers the cost of a rental truck up to the dollar limit you have selected, and for a selected number of days while your truck is being repaired. Available coverage and time limits vary between companies.

The Downtime endorsement on a dump truck insurance policy will supplement the loss of income if an appropriate rental dump truck is not available. Your insurance company may require you to provide a demonstrated loss of income. Ask if you will receive the full reimbursement even if your daily income is below the insured limit.

Some exceptions and restrictions apply depending upon the insurance carrier. Talk to your agent today about adding both endorsements to your dump truck insurance policy.