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Monday, 21 February 2011

Truck Insurance it's a goodyear

Veronica538 at work as truckdriverImage via Wikipedia
You’re a truck driver and driving alone at night. Suddenly, headlights from an oncoming vehicle point straight at your eyes. The sharp swerve missed the car, but you hit a tree instead, and the impact overturned your vehicle. You’re lucky to be alive.
We hear about truck and machinery accidents on the news all the time, but most of us think we are indestructible and such things will never happen to us.
Truck drivers could be driving with their eyes closed due to fatigue from working long hours. This may increase the possibility of having an accident.
Believe it or not, many accidents are not caused by the truck drivers. Most people are intimidated by huge trucks driving next to them, or don’t have patience being stuck behind a big, slow truck. So what do drivers do about this? They speed up and overtake the truck (ignoring placards not to do so), or speed up to avoid giving way to a truck wanting to overtake them.
Whatever the reason for accidents, they happen.
A container truck. Cab-over design.Image via WikipediaI’ve dealt with claims relating to trucks being vandalised, set on fire, stolen, colliding with other vehicles, hitting trees and kangaroos, or being clipped by other vehicles.
Are you insured?!?
As a truck driver, your truck is your largest and most important asset of your business. You may have one, two, or a fleet of vehicles in your company to help you earn an income. Why wouldn’t you protect your assets against a disaster? If you have insurance for a trucking business, check if you have the following covers in place:
    Rob Knell, monster truck driverImage via Wikipedia
  • Accidental damage, fire & theft on the truck or machinery
  • Public Liability
  • Hazardous goods
  • Care, custody & control
  • Business Interruption
  • Damage as a result of work involving digging
  • Marine cargo
I get nervous hearing about uninsured or under-insured businesses or vehicles. Without the right cover, your business could possibly come to a halt, unless you have thousands of dollars lying around to continue running the business. What if you carry hazardous toxic chemicals and your truck has overturned on a busy highway?

What if it was your negligence that caused the accident and you are sued? If due to a disaster, you can’t operate your business, and as a result there is no income for the business, how will you  pay for the fixed expenses of the business (such as rent and wages)? These are all the scenarios you need to think about when taking out insurance.
Insurance is the determining factor on the survival of your business after a major accident.
You can hire an insurance broker to give you professional advice and find the right cover to protect your business properly.
Cynthia Yap is an experienced Insurance Broker who has been with Central Insurance Brokers for the past decade. Having witnessed many businesses go down as a result of business owners not taking sensible insurance advice, she can keep you on the Road.

Here is a quick reference guide to covers

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