Buying Guide for a Small Fleet Truck Insurance Policy

2 mn read

Are you gradually expanding your small transit business and it has now turned into a small fleet? Great! Now start thinking about its safety and security from all potential threats. Transportation is a profitable business with equally involving risk factors. Road accidents, worn-out parts, cargo damage, theft or loss are some very common issues every transporter has to face on a regular basis. In order to cover these unexpected expenses, get a feasible small fleet truck insurance policy as soon as possible. The main problem is with figuring out a policy that suits your business size and type. Please scroll down for some professional suggestions. 

Suggestions to buy a small fleet truck insurance policy

  1. Figure out the right insurance policy with the agent’s assistance

The truck insurance policies differ on the basis of numerous factors like geographical conditions, type of cargo, vehicle condition and distance etc. If you directly visit the website of an insurance service provider, their options will definitely create a lot of confusion. There will be a long list of insurance is like:-

  1. Motor truck general liability insurance

  2. Non-trucking liability insurance

  3. Cargo insurance

  4. Physical damage coverage

The agent should have knowledge of all policies, their coverage factors and exceptions. Find an insurance company offering tailored insurance solutions instead of forcing useless packages.

  1. Check their claims track record

How frequently the claims are being processed? What are the experiences of previous customers? Clarify these questions before buying an insurance policy. Some agencies of small truck insurance in Australia advertise luring offers and coverages but with hidden terms and conditions. At the time of claiming, they make several excuses to reduce the amount. Be aware of such insurance agencies. It’s better if you manage to find a referral from people in your acquaintance. 

  1. Always ensure more amount than you think actually needed

No one can predict the actual loss while signing the insurance contract. For instance, the damaged cargo you were transporting may have a much higher value as compared to your insured amount. In order to avoid these circumstances, get an insurance policy of higher value. 

Get quotes from at least two or three insurance agents before buying the policy. Spend adequate time in reading and understanding the terms and conditions. Book an appointment with an agent and ask him to clarify all the clauses in detail and in simple language. 

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