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Insuring Your Truck in Australia

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While everyone who drives a truck will be aware that they will need to have their truck insured, they may not know where to go to get it. It will also require a little research as there are many types of insurance and the correct one must be chosen. For more info, you can go online and find out what is on offer, and what it is going to cost. The insurance can also be purchased online.

Researching
The need for insurance is the same if you own just the one truck or run a fleet of vehicles. Using a specialist will take the fear out of the process and they will ensure that you have the correct cover and will not be in trouble if you are in an accident or need to make a claim.  As long as you fill in the correct details of your vehicle and say exactly what level of cover you need you will soon be ready to hit the road. As there are well over 150 insurers in the country, you will want to get a quote for as many as possible. As this would take too long to do this individually, fill in the details and get many at once.  Many of them will be truck specialists so you will not have your time wasted through researching sites that are not suitable.

Types of Vehicles That Can Be Covered

  • Light commercial vehicles
  • Heavy rigid vehicles
  • Heavy rigid vehicles with trailer
  • Articulated
  • Refrigerated
  • Animal transportation
  • Dangerous goods

It is not just the type of vehicle that is owned, but also the use of the truck. In some cases, it will be trade, some will be for transport and another sector will be purely for private use. An addition that can be made in some cases is downtime insurance. This means that if your vehicle is of the road, your income will be protected. This is especially important as it will prevent drivers using trucks when in reality, they should be checked out in the work shop.

Types of Truck Insurance

Articulated

Also referred to as prime movers, articulated trucks tend to have comprehensive insurance and this is because there are contractual obligations involved, with little difference between premiums for comprehensive cover and third party cover. There can be many misunderstandings about just what is needed but it is possible to set a policy that is particular to a specific company’s requirements.

The major issues arise when it comes to the use of trailers. A lot of owners choose to purchase trucks that do not have them and then tow ones that they do not own. It is here that there has to be a policy in place to suit.

Refrigerated

There are difficulties here when it comes to third party trailers and long haul journeys. The correct cover will require comprehensive insurance, machinery insurance – needed in case the refrigeration unit ceases to work.

Livestock

Livestock insurance is one of the highest risk, but also most needed form of insurance in Australia. Some companies shy away from insuring this form of truck. It will be best to use a specialist firm for this and there are ways to insure single vehicles or fleets.

Dangerous Goods

As you would expect this is one of the most important trucks to insure and the guidelines in relation to what can be carried and how much at a time.  Road Transport Authorities in each state will have their own guidelines and these have to be followed. A big problem is under insurance and there have been reports that this can be up to a $4,000,000 shortfall per policy.

Before paying for insurance it will be best to look for more info to make sure that you do not fall foul of rules and regulations.