What is the requirement for commercial vehicles carrying hazardous materials regarding insurance?

Commercial vehicles transporting hazardous materials must have property damage and bodily injury liability insurance to ensure that in the event of an accident, there is financial coverage for damages caused to other parties and any injuries sustained. This type of insurance is crucial for protecting both the public and the company operating the vehicle, as it minimizes the risk of financial loss and ensures accountability in case of accidents. Liability insurance specifically addresses potential harm or damage to others, which is particularly important when transporting hazardous materials, as the consequences of such transportation can be severe.

Other types of insurance, such as comprehensive or vehicle theft insurance, may provide coverage for different risks, but they do not fulfill the specific legal and safety requirements for hazardous materials transport. Liability insurance is mandated to safeguard both the driver and the public, making it essential for anyone operating commercial vehicles with hazardous materials.