Firstly, your newly bought stock trailer is ready for a test drive. Before you get too excited and hit the road, ask first this crucial question, “Have you got it insured?” If not yet, might as well put this issue as your priority. Why? You never know when an unpredictable event happens beyond your control like road accident, severe flooding or worst theft. Keep in mind, buying this trailer is a huge investment and you need to have it protected. I’m going to share with you these top 5 questions that you can ask a prospective insurance broker during the private consultation for your Stock Trailer Insurance Policy Broker.
Question #1 – What does the stock trailer insurance cover?
This is one of the questions that stock trailer owners often ask when having a discussion with an insurance broker, “What does the stock trailer insurance cover?” There are various types of insurance that your insurance broker will suggest for your stock trailer and may cover the basic protection coverage like liability, collision, theft or vandalism. Generally, your choice of insurance coverage will depend on the value of the trailer, its usage and preferred budget to pay the insurance premium.
Question #2 – How much will the stock trailer insurance cost?
As mentioned the determining factor that will dictate the cost of your insurance coverage is the actual value of your trailer and proposed use. Since this vehicle is newly bought and intended for business use, you might need a comprehensive insurance policy, referred to as “commercial stock trailer insurance”. Expect this type of insurance policy to cost more than a policy intended for personal use only.
Question #3 – Is it really necessary to get my stock trailer insured?
There are no regulations in Australia about having your stock trailer insured. The final decision to have it insured depends entirely on its owner. If you have invested a huge amount of money for a high end trailer, it’s in your best interest to have it insured, so that you have something to fall back on in cases of a liability, theft, vandalism or accidents that occur where you are held accountable. Talk to an insurance broker to get a clear idea on the possible insurance coverage suited for your trailer and find out how much you can claim for these unavoidable events.
Question #4 –Are the contents inside the trailer also covered by stock trailer insurance policy?
Among the other concerns that you need to verify when talking with an insurance broker is whether the contents inside your stock trailer are also covered or not. Your insurance broker will give you options whether you need to pay more to cover the contents of the trailer or get an additional policy to cover these contents.
Question #5 – What are other requirements you need to know?
Lastly, before you end the private consultation with a prospective insurance broker, don’t forget to ask about any other pressing matters bothering you like other legal requirements that you need to know when choosing the best trailer insurance plan such as:
Purpose of the trailer (personal or business use)
Insurance policy payment options
I do hope the above questions will help you find the most reliable insurance broker who can advise you on insurance coverage to meet your specific needs. If you are still struggling to make a decision, contact Truck Insurance HQ on 1300 815 344 as our focus is trucks and trailers. Request a free quote online for insurance that will keep you and your business safe and protected while on the road.