Having the right insurance for your truck is not just smart business, it can mean the very viability of your business. The cost of insurance is a major consideration to truck operators and shopping around for the best value policy is essential.
- Finding an insurer that specialises in truck insurance so they understand the market in which you operate.
- Insurers that provide flexibility in their policies to allow for different operating conditions.
- Some of the leaders in general insurance offer truck insurance including QBE, GIO, Allianz and CGU with online quote services.
- Truck only policy, truck and trailer, truck and load – decisions to be made.
- Comparing quotes is one stage, but also compare the fineprint!
- In addition to insuring your truck, consideration needs to be given to insuring yourself, your income or other aspects of your business.
- Especially for owner-drivers, insurance for the business and your income may prove critically important under some circumstances.
Sourcing quotes and comparisons on truck insurance can be a very time-consuming process and if it takes you off the road for an extended time – it’s costing you money. As an alternative, many astute business operators choose to engage an insurance broker to handle all their insurance requirements. Brokers can source you quotes, explain why one or the other is the better offer and keep you on top of deadlines, renewals and other critical issues.
Financing Your Premium
Truck insurance premiums are a major cost to business, even when you do get the best offer. When you’re required to pay it annually, all in one hit, the premium can seem even larger than it is. If you’re finding that your premium payments are a major issue you may like to consider Insurance Premium Funding.
Insurance Premium Funding is a specialist finance product where a finance broker will source you finance for your insurance premiums. The broker will be tasked with sourcing you a low interest rate on the finance and negotiating a payment schedule with the lender that works for your business.
Premiums can be paid by loan repayments monthly, quarterly or half-yearly.