The insurance rates on trucks depend upon the use to which they are put.
The insurance usually carried by loggers covers fire and theft, although
some companies also carry liability and either collision or property
damage insurance. The equipment can be insured for only ninety per cent
of its value.
Fire and theft insurance is based upon the list price of the truck and
body when new and the usual premium for the logging truck is one dollar
for every hundred dollars of insured value. Theft rates on the trailer
are based on a flat charge of twenty-five cents per hundred dollars of
insurance taken, regardless of age, list price, etcetera.
Collision insurance is based upon the list price of the equipment and
covers full value at the time of loss of the damage to the truck by
colliding with anything movable or immovable.
The liability rate for logging trucks is $33.75 and is based upon
occupation alone. This covers the public as well as the employee and is
limited to $5,000 for one person and $10,000 for two persons or more.
The property damage rate for logging trucks is $13.50, and covers the
damage done to the property of others. It is arrived at in the same way
as liability insurance. The usual limit for property damage is $1,000.