Understanding The Different Insurance Cover For Truck Drivers

Truck Insurance

Insurance Cover For Truck DriversDo you know the different insurance cover for truck drivers? While known to be a high-risk job, truckies often have this “it will never happen to me” attitude. Well, one is not as invincible as she or he may think in the realm of accidents and unforeseen circumstance. Insurance coverage for truck drivers are meant to deliver a safety net not just for truckies, but also to their loved ones. Not having any insurance to fall back on is like putting one’s head in the sand– a magnet for terrible consequences. But with the number of insurance cover being promoted nowadays, what are believed to be necessary and aligned to the needs of a truckie’s household?

General Truck Insurance Coverages

There are many types of insurance coverages meant to address the needs of truck companies and truckies alike. In fact, it is considered a fixed expense of the overall transportation industry that needs to be reassessed and reviewed on an annual or semi-annual basis to ensure foolproof protection in the event of unforeseen circumstances. Here are the most common ones:

  • Physical Damage

  • Primary Liability

  • General Liability

  • Non-Trucking Liability

  • Non-Owned Trailer Physical Damage

  • Non-Owned Trailer Liability

  • Cargo Insurance.

  • Terminal Coverage

Of all these insurance cover list, liability-based insurance are required by law. While primary liability provides protection for any legal action from a third party, general liability offers protection to truckies during exposure to devastating circumstances while on the job. Physical damage insurance for both owned and non-owned truck vehicles provide protection for truckies in the event of accidents or circumstances resulting to damage to their vehicle. Though not explicitly required by law, these covers give trucking companies and truckies alike peace of mind knowing that their vehicles can be replaced or repaired without cost. Cargo and terminal covers, on the other hand, offer protection to freight while in transit or in allotted locations respectively. Keep in mind though that terminal coverage is time-limited.

Income Protection

While workcover protection is required by law for trucking businesses in all of Australia to provide a safety net against statutory and damages claim costs due to employees work-related injury, it is deemed limited by truckies in the event of accidents. These covers, however, do not include income protection to allow truck drivers steady flow of remuneration even when incapacitated from an illness.

Income protection is considered a dedicated cover for truck drivers to meet their needs and maintain their lifestyle even when injured or while recuperating from injuries sustained in an accident or sick and unable to work. It allows them freedom to meet mortgage payments, food and electricity, and other necessities for the whole household to function normally even when incapacitated.

 

Insurance cover for truck drivers are created to serve one purpose– protection against unforeseen circumstances. These are crafted to guarantee a safety net for truckies to fall back on during trying times. Different insurers, however, offer different covers as well as exclusions or limitations. One you determine what cover to get, talk to a reliable financial adviser to point you to the right direction.

Want to get the best truck driver income protection insurance. Please enquire online or call our office to discuss how we can help you with truck driver income protection insurance.

Truck Insurance HQ