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When you are running a business, you know that you need to expect the unexpected. If your business depends on your trucks, don't just expect the unexpected. Prepare for it with proper insurance coverage.
Whether you are operating with a truck or with a whole fleet of trucks, it is important to have the right insurance. In addition to the legal requirements for truck insurance, this means carrying a policy.
Who needs truck insurance?
The short answer to the question is who owns and operates a commercial truck in Australia. Buying a heavy duty truck for commercial purposes is an expensive investment. So, it makes sense that you want to protect your investment with insurance cover.
There are many industries where you should have a truck insurance policy.
Carriers Marine Cargo - Generally, the cost of insurance for this industry is based on the annual gross freight income. Whether you work on a small scale or have a large transportation company, you will find great peace of mind knowing that what you are carrying is safe.
Many subclass carriers fall under the umbrella of Marine Cargo Insurance. These include,
- Carriers Legal Liability - It takes care of the damages you would normally pay for damaged or lost goods in your property or transit.
- Carriers Goodwill - Accidental damage - This covers the cost of accidentally damaged goods, including loading and unloading, theft, non-delivery, and load shedding.
- Career Goodwill - Scheduled Events - You are covered (regardless of the terms of your contract's legal obligation) if there is a loss during the specified events (events) included in your insurance policy.
- Truck Delivery - If you are responsible for delivering someone else's product, truck insurance is a necessity. Without it, you could be responsible for the damage to your truck as well as the cost of the products that were lost in transit.
- Equipment Transportation - There are many things that can go wrong when you are transporting goods to or from a job site. Even if you're not mistaken, an accident involving heavy equipment can be incredibly expensive.
- Tanker Truck - Carrying any amount of liquids can put you at risk of accidents. If you have flammable or toxic substances on board, the risk of disaster increases. A complete insurance policy is essential for this industry.
What is Truck Insurance Cover?
The three most common types of truck insurance cover many details.
- Fully Comprehensive Truck Insurance Policy - A comprehensive comprehensive truck insurance policy usually covers most cases. Whether it's in the form of damage, accident, theft, or other issues, you are covered.
- Third Party (Fire and Theft) Truck Insurance Policy - It pays coverage if you are at fault for a specific event such as a fire or theft.
- Third Party Truck Insurance - A third party truck insurance policy pays only if you make a mistake and hit another vehicle.
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If you think you need truck insurance but aren't sure where to start or have questions about what you need, feel free to contact Grace Insurance. Our insurance professionals can help you look at your options and decide the best option for you. Grace Insurance is proud to make the right policy for your needs. We will not try to force you to follow a cookie-cutter policy that may be right for you. We do not settle for anything less than the perfect policy for you or your company.7
