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Hazmat Cleanup

Hazardous materials hauling is highly regulated by state and federal laws in order to ensure public safety. Additional restrictions are imposed on such hazardous freight regarding how it can be transported and what type of insurance policy can be used.

If you haul hazardous materials – for example, medical waste, gas, propane, or other chemicals considered to be “hazardous” – you may be required to consider hazardous materials insurance (or hazmat insurance.) Like pollution coverage, this will cover the costs of cleaning up the environment if somehow your trucking business were to endanger the environment by spilling your load.

Limits for hazmat insurance (the maximum amount that the insurance carrier will pay out) can be as high as $5,000,000. That’s because hazmat hauling is strictly regulated by the government due to the high potential for disaster. You may be required to carry a certain amount of insurance in order to operate your business, so it’s important that you have the hazmat insurance you need.

Do I need haz mat insurance for my business?

Trucking is not without its risks. Anything can happen on the road, including car accidents. Liability insurance and cargo insurance might be the first types of coverage that come to mind when you think about insuring your trucking operation, but you may want to consider pollution insurance to make sure that your business is fully protected from the fallout of a potential accident. Environmental cleanup gets very expensive very quickly.

How much does haz mat insurance cost?

The cost of  haz mat insurance varies from business to business. Each trucking business is different and faces their own unique risks. Before deciding whether or not to insure your company, an insurance carrier will want to look at some of the details about your business. From there, they will figure out how much to charge you for your insurance.

 Cleaning up after an incident – whether it be related to storm, flood, ice, or fire – can be expensive, especially if homeowners insurance does not cover the specific event at hand. When deciding on a policy, most homeowners are informed of what their insurance will cover and can decide on a level of coverage they are comfortable with.
Although types of coverage vary between policies, the typical homeowner’s insurance policy is only concerned with the structures on your property. Because of this, if a tree falls on your home or a downed branch rests against an insured structure, your policy will pay for its removal. Many policies will also cover removal of debris that blocks a driveway or a handicapped-accessible entrance, but they won’t pay for removal of any other debris that winds up on your lot.