Commercial truck insurance coverage is an insurance coverage typically suited to a small company or an owner-operator providing who provide trucking services. Insurance options differ depending on the type of truck, the goods transported, the potential risks and the experience that the truck driver has. Australian truck insurance packages can be tailored to your business needs. It is important to know the different types of coverage and understand how they work to identify what truck insurance coverage your business needs.
Basic coverage covers collision and comprehensive insurance. Collision damage insurance covers the expense of another vehicle from an accident wherein you are at fault as well as the damage to your own vehicle. Comprehensive insurance works like regular motor vehicle insurance which covers the cost of repairs to your vehicle up to a specific maximum amount that is for something other than a collision.
Commercial trucking insurance offers many different and specialized options. Your business needs coverage for every risk that your truck could be involved in. Aside from basic coverage, a trucker who transports cargo on behalf of clients will need primary trucking liability insurance, which covers bodily injuries and damage to another driver and their vehicle due to an accident. If you are found at fault, your insurance will cover damage and injury up to the maximum limit of your coverage. Cargo insurance covers loss or damage to cargo that a truck carries which would depend on the type of truck and value of the cargo usually transported.
There are also types of cover not directly related to transportation of cargo such as bobtail insurance, non-trucking liability coverage, occupational accident coverage and cover for personal items. Bobtail insurance is applicable after a truck’s load is delivered and the truck is traveling without cargo or trailer, or when an owner uses the truck for personal reasons. Occupational accident insurance means cover for the owner-operator for accidental death or dismemberment due to truck driving.
General Liability Insurance
This type of truck insurance covers your truck off the road. General trucking liability insurance provides cover for accidents at parking lots, rest stops and during loading or unloading. It may also provide cover for other risks like theft and acts of vandalism.
You can get cheap truck insurance for your business providing a wide radius of cover in Australia. Truck insurance is critical to safeguarding trucks that are on and off the road and the businesses they represent. By investing in a smart truck insurance coverage package, a truck owner invests in security and peace of mind.
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