Do you know why insurance cover for earthmovers is necessary? Drivers of monstrous trucks involved in earthmoving jobs have one of the most hazardous tasks on the planet. Unlike other truckies who can still do idle chat while on a pit stop or listen to music while on a long haul, these professionals have to face risks not just in driving such massive machines on the road but also from the elements being carried on their back.
With constant exposure to these constant stressors as well as patience to overcome rude motorists or congested traffics, without a doubt earthmovers are often physically and mentally drained. This somehow tightens the resolve of many truckies to get specialty insurance on top of the usual covers given to them by their employer or contractor. Here’s a breakdown of Australia’s personal insurance cover and what earthmoving truck drivers may need.
Income Protection Insurance. Designed to specifically provide a steady stream of income on a monthly basis, it allows earthmovers to maintain their lifestyle while recuperating from an injury sustained at work. It usually pays at least 75 percent of one’s gross monthly pay allowing you and your family to get your household functioning with enough money to sustain daily expenses, debt repayments, mortgage or rental obligations, and the likes.
Critical Illness Insurance. Earthmovers are known to be susceptible to various chronic conditions. Coal haulers, for instance, have a high incidence of chronic respiratory conditions and other debilitating conditions leading to a high mortality rate. This specialty insurance offers a lump sum benefit to anyone diagnosed with a critical illness like cancer, stroke, emphysema, and so on. This insurance usually covers medical expenses including equipment and rehab costs, hospital bills, and so on. Do keep in mind that different insurers have specific definitions or qualifications on what “critical illness” means.
Total and Permanent Disability Insurance. This insurance cover provides a lump sum benefit to the insured party in the event of total or permanent disability due to an illness, accident, or injury. As a general rule, this policy covers instances when the insured party can no longer function or perform in his or her earthmoving tasks due to injuries or illness sustained from the job. This can be a great help to pay off nursing care, home renovation to retrofit current needs, and as an alternate source of income for couples when the other party has to quit to tend to the injured party’s health. In a way, it provides relief from both financial and emotional stress for the whole family.
Life Insurance. Death is inevitable and everyone, earthmovers or not, will have to face it– and life insurance allows one to be ready for it. By paying a lump sum benefit to beneficiaries (usually family members) in the event of one’s death, it is designed to give your family something to hold on to when the going gets tough after your demise. From funeral costs to mortgage and other financial obligations, it allows enough cover for expenses incurred as your loved ones start rebuilding their lives. In some cases, some life insurance in Australia is also tied up to pension plans giving you a head start upon retirement.
While thinking of death, injury or accidents may seem morbid, it is still better to be prepared. Insurance cover for earthmovers are meant to be the antitheses to such fears and worries. Being financially unprepared when things crumble can put you as well as your loved ones in a quandary. With this type of insurance covers, you can rest easy knowing that you and your family are prepared for whatever trouble threw at all of you.
Need help picking a dependable insurance cover for earthmovers? Enquire online or contact our office so that we can help you get dependable insurance cover for earthmovers.