Everything You Need to Know About Small Truck Insurance

What is a Commercial Truck Insurance?

Being a small truck owner, you may have understood the importance of having your vehicle insured. 

Although trucks run on the same public roads as regular cars, they have their own specific risks. For example, trucks are larger and slower to maneuver than cars, which can pose a threat to both the truck driver and other drivers on the road. A truck is likely to inflict more damage than a small car. On top of that, they can be prone to theft.

Another thing to worry about is the safety of the goods being carried by them. 

That is why truck insurance can be as important as a regular service for your small truck. 

Generally, truck insurance is designed to cover small truck owners against risks that might occur during everyday operations. 

Many truck operators consider small truck insurance  a way to safeguard their business or livelihood. 

It is important to understand how it works and what it covers to have the right outlook towards this policy. And this guide will educate you on the key points of small truck insurance. 

What is Small Truck Insurance?

As the name suggests, small truck insurance covers small and light trucks used for commercial activities like moving goods from point A  to point B. This insurance can cover damages to your truck and other vehicles from accidents or negligence leading to liability claims.  

What Types of Small Truck Does it Cover

Well, the coverage for the types of the small truck that can be covered vary from insurer to insurer. However, this is a general overview of small and light trucks covered by small truck insurance. 

  • Refrigerated Truck
  • Isuzu truck
  • Hino truck
  • Mitsubishi
  • 2 tonne truck
  • 5 tonne truck
  • 10 tonne truck
  • Mini truck
  • Mini van
  • Pick up truck
  • Work utes

What are the Benefits of Small Truck Insurance?

Being a small truck owner, you should have suitable protection wherever your truck is because issues can occur anytime. Therefore, it is important to have trucking insurance coverage for damages, theft, and fire. 

The risk of getting involved in a road mishap is evident, and even experienced drivers are challenged in difficult driving conditions such as slippery roads, poorly surfaced roads or if another vehicle, person, or animal suddenly appears in your path. 

And paying for damages arising from an accident can be devastating for your business. Even worse, you can go bankrupt. 

This is where small truck insurance comes in. It can pay the damages when covered incidents occur. 

What are the Risks Covered by Small Truck Insurance?

That depends on the insurer or cover you choose. Therefore, you need to choose the policy that can cover you against the potential hazards associated with your trucking activities. 

Generally, you may like to consider if a policy covers each of the elements given below

  • Coverage for your small truck against damage and loss
  • Theft and Fire
  • Liability insurance in case if a small truck hits a car or third person in an accident
  • Additional cover options and extensions for truck accessories and goods in transit and more. 

Again, keep in mind that all these covers vary from insurer to insurer in Australia. 

What Might Not Be Covered by Small Truck Insurance

Your insurance policy will mention exclusions that are the scenarios or incidents not being covered by the insurer. Some of them might be…

  • Wear and Tear
  • Damages due to an inebriated driver or who refuses to undergo drug or alcohol test after the incident. 
  • Unlicensed Vehicles
  • Rented Vehicles
  • Workers compensation

Bottom Line:

Small truck insurance can cover damages, theft, fire and other risks your small truck is prone to. Getting your truck insured with the right cover ensures peace of mind. However, it is important to read the policy to get familiar with all the conditions and exclusions. 

Disclaimer :

*Important: Cover may be available subject to meeting insurers underwriting criteria. Some of the covers listed may or may not be available or may have limitations or exclusions. Cover inclusions vary significantly from insurer to insurer. DO NOT rely upon the above. Check your policy schedule carefully for inclusions and exclusions and limitations. Talk to a business insurance broker for more information.

Author Bio:

Romit Malhotra is the brand representative of Smart Business Insurance, a leading Australian insurance broker. A big foodie, he loves to travel the world. Also, a diligent businessman, Romit likes to pen down his thoughts on related topics whenever he finds some free time.