Anything can happen when you are out on the road, it may be a natural disaster, a human error, or an unforeseeable situation that is out of your control, either way, you need to be protected.
And I don’t mean carrying a suitcase worth of shotguns or rifles behind the seat, although armed protection for self-defense are options worth looking at if you are on long haul journeys alone on the open road, more in terms of vehicle coverage.
Before you head out, have a quick read browse for some advice and guidance when driving alone. Nothing may ever happen, but if it did you will have some instinct on how to react and respond if necessary.
We are talking about insurance. We have insurance cover for our homes, our personal vehicles, even life insurance, so why would a safety net for your business vehicles be any different. You want to ensure that they are looked after if there is any damage or negligence by the driver or others, and if they are stolen or in an accident you will have a backup plan.
You want to find an insurance company that will listen to your concerns and queries, who will make you feel like their most important customer, and who can deliver on the promises they advertise.
It can be tricky trying to navigate the long list of brands and firms out there all offering a deal better than the next and before you know it you are feeling overwhelmed and ready to give up, but don’t do that just yet.
It is always better to know more than you need to, this way you are aware of what not to accept or be drawn into. To give you an idea of what options you have available, the pros and cons of each, and to help you make a calculated decision based on the facts and information at hand take a quick look at fundamentalinsurancebrokers.com.au/truck-insurance.
Should I or shouldn’t I.
Some people think that because nothing ever happens to them or their property that they have luck on their side and that insurance is a waste of money, but do you want to be caught off guard when that ‘luck’ runs out and suddenly 3 trucks from the yard have been stolen?
Businesses and business owners need to look after their assets, it is better to be safe than sorry, and which is why insurance is so important. You have worked too hard and for too long to throw it all away simply because you are too tight to invest in comprehensive cover.
There are many positives to insurance, let’s take a look at the top factors that made CEOs and top management decide to commit to protecting their firm’s vehicle assets.
Top 3 reasons on the importance of insurance.
Sometimes the cheapest option ends up costing you more, and particularly so if you have the wrong type of coverage. Pay for what you need according to your business needs and always opt to pay for quality rather than quantity, a lot of bad apples will never be better than a good few.
There are many reasons why security through insurance is essential for life and business with the list increasing daily, see what others have to say about its importance and their advice on the subject.
Having a policy in place not only protects your drivers and vehicles but other damage that may occur in an accident to both the other person’s car and the person himself. Your liability is taken care of and could save you from expensive court cases and claims.
Depending on your provider, most insurers offer add-on’s we don’t take into consideration initially, roadside assistance, emergency call-outs, these all make life that much easier while traveling.
There is no time like the present, make the commitment to caring for your company in all aspects and take out an insurance coverage policy, for the short and long-term benefits. You can sleep easier at night knowing your assets are safe and your employees driving the vehicles will feel more confident in their safety. Win-win.
Bonus: Types of Truck Insurances that You May Need
Before you end reading this article, there might be one more thing that you need to be aware of. As you know, there is not just one type of truck insurance that you will potentially need in the future. Knowing which ones you will need the most will make the entire process a lot easier for you. Let’s highlight the main types of business truck insurances that every entrepreneur in this industry should have.
General liability is a useful form of truck insurance for many reasons. In general, whenever some of your drivers cause some sort of property damage, the insurance will cover all the costs. The same rule counts when we talk about bodily damage. It doesn’t matter if someone simply hurts his arm or the person experiences a tougher injury, the insurance will cover all the medical costs.
To make things clear, many people think spending money on general liability will reduce their profit during the month or year. However, when you look closer, all the mentioned costs can be a lot higher compared to the monthly fee you will have to pay. Because of that, consider this as some sort of long-term investment that can potentially save you from certain troubles in the future.
Primary Auto Liability
This type of insurance is not something you SHOULD have. It is the type of insurance that you MUST have. More precisely, primary auto liability is required by the federal law which is an extremely important piece of information for all the entrepreneurs that run the truck business.
So, why is primary auto liability so important? Well, it is important for your business as well as the third parties that are involved in an accident. For instance, it covers all the costs of injury that other parties experience after the accident occurs. This covers all types of injuries, from the basic ones to the ones that may require surgery. The second type can definitely be costly, especially in the western countries, which automatically confirms that you should get one without even reading the law requirements.
This type of insurance is not as popular as the previous two types. However, it can certainly be useful in moments when one of your trucks stops working for some reason. It won’t cover the repair costs, but it will allow you to rent a truck as a replacement for free. Imagine how tough it can be when a truck stops working in the middle of the drive. On the other hand, how are you going to explain to your clients that their orders are going to be late for a couple of days when they need them urgently? Of course, one option is to cover the costs on your own, and the other one is to pay this insurance and ensure a quick solution. Good entrepreneurs always prepare themselves from problems before they even occur.
All these insurances are useful in some unique way. Which one you will decide on depends on your needs as well as your budget. It is recommendable that you start with ones that are required by the law, but it is also recommendable that you do not stop there. Hopefully, this article will help you bring the solution a bit easier.