As a truck operator, you face a number of risks on the road and it’s essential that you’re covered with the right insurance. But how do you know if you need heavy truck insurance? Today, we’ll be looking at some of the factors which indicate that you need to speak to your broker about taking out heavy truck insurance.

You own a truck and accessories

Well, this is a pretty obvious one but if you own a commercial truck and accessories, such as a trailer, then you need to have insurance cover in place. Purchasing a truck can be a significant investment and failing to have the right insurance cover in place means that you’re not protected against loss or damage to your truck. Depending on the level of cover you choose, insurance for your truck can cover a new vehicle or repairs following an insured event, finance payout, replacement hire vehicle, uninsured driver cover, and additional cover for accessories.

You transport goods

Many truck operators make a living transporting a variety of cargo and it’s important that you have cover in place to protect these goods against loss or damage while they’re in transit. This not only provides peace of mind to you but also to your clients. Insurance cover can include cover for insured events, additional coverage for scenarios such as accidental loss and spoilage, and damage caused by the goods. The type of cover you require for transporting goods will depend on your situation and your insurance broker will be able to provide more insight.

You’re self-employed

For truck operators who are self-employed, this can mean that you have no source of income if your truck is off the road or if you’re unable to drive it. In this scenario, you can opt to have additional cover included in your heavy truck insurance to protect yourself financially. For example, downtime insurance provides you with payments if your truck is off the road following an insured event.

You want to protect third parties

It’s not just your truck that needs to be protected – driving a heavy truck has the potential to cause damage to third party property. Heavy truck insurance will include protection against the costs associated with third party property damage and you can also opt for additional public liability cover if you choose.

At GSK Insurance Brokers, we provide insurance solutions which will protect your areas of risk. We’re one of Australia’s leading insurance brokers and we have experience across a range of industries with a special interest in transport. We take the time to get to you know business so you can be confident that all of your areas of risk are covered.

If you want to learn more about heavy truck insurance, contact GSK Insurance Brokers today on  (08) 9478 1933.

December 18, 2019

By Graham Knight

Founder and Managing Director of GSK Insurance (established in 1981). Graham draws upon more than 50 years’ experience in the insurance industry, working in both insurance and broking across various private, public and government sectors in Australia.

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