Commercial truck insurance is an essential component of any business, whether you are a small business owner with one commercial truck or a large company with a fleet of trucks. Since no two businesses are alike when it comes to using their vehicles, their specific risks, or the amount and type of coverage needed, it is important to find truck insurance that is tailored to your specific commercial needs.
What is commercial truck insurance?
Commercial truck insurance provides cover for individual trucks and fleet trucks used during the course of business, and can include liability, as well as legal costs incurred with third party damage. It is used to insure trucks for all types of businesses – from small business owners to medium and large enterprises - and protects trucks against certain losses such as theft, own damage and third party damage, in addition to several other benefits.
What are the commercial truck insurance policy options?
Broadly speaking, there are three types of truck insurance policy options for commercial use. They are:
- Third party property damage: This ensures that compensation is available for damage of other peoples’ property resulting from an accident caused by you or another driver of the covered truck. This type of policy does not cover costs incurred by you as a result of the accident.
- Third party fire and theft: This provides the same cover as third party property damage, in addition to insuring your truck in the event that it is stolen or damaged by fire.
- Comprehensive: This covers the same as third party fire and theft, and also covers your truck if it is damaged in an accident. Several additions to this type of cover are available to suit your specific requirements.
What impacts your commercial truck insurance?
The type of commercial truck insurance that you can get differs according to a number of parameters, such as the type of truck you have, the goods that you carry, driver experience and risks incurred. The category of commercial trucks involve several types of large vehicles including box trucks, prime movers, cab chassis, tow trucks, tank trucks, stock trucks, concrete agitator trucks and many more. Since different trucks have different roles and uses, this all factors into the type and amount of coverage you need to protect your business investment.
Finding the right commercial truck insurance at an affordable price can be an arduous task. We at Yes Insurance will keep your best interests in mind and find an insurance policy that is tailored to meet your company’s requirements. Call us on 1300 726 113 for a tailor made commercial truck insurance assessment
When it comes to truck insurance for your company, one size does not fit all.
Your business is unique – no two companies are identical, therefore your insurance needs should also be unique.
This is where tailor made truck insurance comes into play.
There are several benefits of opting for tailor made truck insurance. Your insurance should have a policy of coverage that is tailored to your specific needs and does not include unnecessary coverage.
By doing this, you can save premium costs. In addition, another benefit is the fact that you can also add on other components of coverage to your insurance needs such as cargo liability, general liability and so on.
Various factors need to be taken into account when obtaining a tailor made truck insurance quote. These include:
- Single or Multiple Trucks: Whether you only have one truck or a large fleet of over 20 trucks, you can find something that caters to your individual needs.
- Type of Truck: Your insurance premium and package depends on the type of vehicle that you have, as well as the year, make and model of the vehicle. Example of truck types include Prime Mover, Cab Chassis, Table Top, Tow truck, Refrigerated Pantech and more.
- Radius of Operation: Your radius of operation is also important when determining what sort of premium you will be paying. This can be within a few hundred kilometres or a few thousand kilometres, or Australia-wide.
- Types of Good Carried: These include general goods, waste disposal, refrigerated goods, furniture, vehicle carrier, livestock etc.
- Additional Cover: Your premium will also depend on what sort of cover you are looking for, that is whether you want trailer cover, public liability cover and marine goods cover to be included.
- Disclosure: There are a few things that need to be disclosed in order to get a better idea of what will suit you better, such as the number of years your business has been established, the number of years that you have been continuously insured previously, the number of claims that have been made in the past five years, and if your driver has had any driving convictions in the past five years.
It is best to consult the services of a company that specializes in truck insurance, if you are looking for tailor made truck insurance. By doing so, you know that every small detail or component regarding truck insurance will be covered.
Yes Insurance are truck insurance specialists in Australia with agents that are well experienced and versed with dealing with tailor made truck insurance solutions for all requirements.
Call us on 1300 726 113 for a tailor made truck insurance assessment.
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