Finance

Why Is Truck Insurance Expensive?

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The trucking industry is a strong aspect of the Australian economy. There are a lot of truck owners who are aware of the risks involved, such as road accidents, damaged and stolen goods and everything that can impact the business scene. What protects them in these incidents is the right truck insurance policy.

Why Is Truck Insurance Quite Expensive?

If you happen to be a commercial truck operative, you may have noticed that getting an insurance policy for your truck is expensive. You could begin to wonder why your truck is more expensive to insure. 

Insurance policy providers have insurance rates that vary from vehicle to vehicle and from company to company. This can be the reason why insurance rates can be higher in commercial trucks.

Truck insurance is an essential aspect for any truck owner in Australia; as a truck owner, you will appreciate the peace of mind and assurance knowing that your trucks and the goods delivered are well protected. The reason why truck insurances are quite expensive is because of the extent of its coverage.

Truck insurances cover a wide range of potential risks that your business in transport operation can encounter. Other covers can be incorporated with this such as public liability insurance to ensure a comprehensive insurance policy for commercial truck operations.

More so, we understand that the process of insuring trucks isn’t a one size fits all scheme. Your requirements are unique from the requirements of other commercial truck operatives. So, your insurance policy should be able to meet specific concerns that your business may face.

How much does it cost to insure a truck?

The cost of your truck insurance depends on numerous factors including the type of goods carried, business experience/claims history, and the sums insured limits. Truck operators that are perceived as riskier will usually pay a higher policy price. Truck Insurance Brokers can find a policy that best suits you and your budget.

What kind of insurance does an owner operator need?

Your truck must be properly insured by a capable and credible insurance provider. Anything that may go wrong during your operations needs to be backed up by your truck insurance policy. Here are the different forms of protection that can meet your truck’s needs: 

  • Heavy Motor protection 

This helps to protect you if there may be any loss or damage to nominated vehicle/s and third party property damage.

  • Public Liability protection

You’ll be protected from legal liability to third parties for damages done. 

  • Goods in Transit

You also get to enjoy the peace-of-mind of knowing that you’ll be covered for the damage and/or loss of the items you carry in the truck. 

  • Personal Disability Insurance

This comes with a 24-hour cover for any form of personal accident and sickness developed in an event. 

  • Downtime Insurance

An optional extension you can add to your motor insurance in covering your lease, mortgage repayments, and as well as your daily living expenses amidst truck maintenance. 

Why Choose Us for Truck Insurance?

GSK Insurance brokers are experts when it comes to the truck industry. We make sure that we will provide you with the best truck insurance solution that best suits you. 

When you’re under the care of GSK Insurance Brokers, we will be able to assist you, especially when you need help the most. We aim to get you and your business back up and trucking as soon as possible!

To speak to an experienced insurance broker who will look after your needs, you can get a free quote by filling in the form to the side or just call us on 08 9478 1933.

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About author

Laurence Craig has been writing articles and content related to home improvement, insurance, real estate and travel for 5 years now. He has been writing for GSK Insurance Brokers in Perth for 3 years and dedicates much of his spare time staying in touch with the industry trends. He is also managing other blog pages and writes on his own time for enjoyment, when not on travel.
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