Do truck drivers who rent vehicles to load or unload products from one point to another really need an “any driver” or replace a driver insurance protection? As a truck driver who rents trailers, dump trucks, flatbeds, vans and so on to deliver his or her services, insurance is often a personal contention. While owners may have motor vehicle insurance and sometimes with liability and cargo coverage, most policies do not cover the contractor-driver (or the lessee). But why get a driver replacement insurance protection and is it really a viable option?
It is important to note that even the most dependable insurance providers do not always allow any other driver driving the vehicle to be automatically covered. In fact, some of these insurers will ask at least three people to be named as “co-drivers” of the vehicle or only cover the owner if anything at all. Stringent rules are observed in some claims processes, too. Often, claims are assigned to a driver currently maneuvering the vehicle even when the owner has its own insurance policy— that is, if the contractor-driver (lessee) has his/her own insurance. If none, the owner of the vehicle will have to shoulder the expenses incurred should untoward incident happen.
As owner of a rental truck, it is essential for you to choose either to have an “any driver” clause or to add named drivers to your existing policy. Both, however, must be dissected according to your current needs. Does you rental truck have 3 or more driver-lessees? Then, go for an any driver add-on to cover all of them. This, however, can be challenging as not all insurers provide the same coverage. To some, simply adding 3 named drivers into their policy is a more viable option. This, on the other hand, can also be challenging as most insurance companies will have to scrutinize listed names, getting information about their personal and professional background– and pattern additional premium from there. At best, you need to explore all available options for you to have a more cost-effective add-on that will not only protect your truck rental business but also uninsured drivers-lessees. Be wary though as some policies do not cover theft.
For Truck Driver-Lessee
As for drivers renting a truck as part of their livelihood, keeping things in perspective must also be done carefully. This is even more so when your whole livelihood largely depend on this. With a family to raise, it is wise to always discuss with the owner subsequent insurance policies on vehicle being leased. Ask carefully if the owner has “any driver” coverage or if he/she can add you to an existing policy’s named drivers list. It is your right as a lessee to demand this information from your lessor. Building a trusting relationship is one of the core concepts in building reputation in business, and truck lessors are often morally obliged to divulge the said information to their “clients”.
When truck owners do not hold any of such add-ons but the rental deal prove to be advantageous, truck drivers-lessee may instead get an insurance policy to cover the same. Replace a driver insurance protection, whether via any driver or certified drivers add-on, is always a welcome development to the transport business. Keep in mind that you, being the driver, will be exposed to various hazards on the road and insurance is about calculating risks. Often, what may be deemed unnecessary actually carries a significant aspect to your profession.
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