Know About The Reasons Why You Should Buy Truck, Plant, and Equipment Insurance

Author: Blue Well

Running a business entails being preoccupied with numerous activities as well as dealing with the inevitable fears and uncertainties. Insurance is one tool that can help you overcome your fears and risks. Various types of insurance protect professionals and businesses during difficult times. Purchasing insurance is a critical decision that should be made after consulting with an insurance broker in Brisbane. In this article, we will look at two types of insurance that are required by businesses, professionals, and sole proprietors: truck insurance and plant and equipment insurance.

What is truck insurance?

Truck insurance is insurance that covers a commercial truck used to transport goods from one location to another. These trucks help businesses transport raw materials and finished goods more quickly. They are vulnerable to a variety of risks, including accidents, natural disasters, and general wear and tear. Ideal truck insurance ensures that business operations continue uninterrupted in the event of an accident or other truck-related issue.

What things are covered by a truck insurance

The coverage provided by each truck insurance policy varies and is influenced by a variety of factors such as the number of trucks, their size, and the regions in which they operate.In general, it covers the following:

  • Accidental damage or loss to your truck
  • Freight transportation
  • Warehousing and storage
  • Downtime coverage
  • Windscreen cover
  • Loss or damage to the goods being transported
  • It also includes damage caused due to collision, overturning, flood, fire explosion, and theft.

Why should one get truck insurance?

Even if you only own one truck, truck insurance is essential. More than 75% of Australian freight is transported by road, and those who rely on these trucks for a living must insure them. Have a close look at the following reasons stating why truck insurance is beneficial:

Protects your investment

Trucks are one of the most important financial statements for companies of all sizes. Replacement or repair is expensive, but the high cost can be mitigated by being insured. In the event of an accident or other unfortunate event, having insurance can assist a business owner in maintaining control of the situation without having to worry about financial constraints.

Downtime insurance cover

There are businesses and associated individuals who rely entirely on trucks for a living. A downtime insurance policy can help during a crisis by providing financial assistance for repairing or replacing the truck until your business can resume operations.

Covers all kinds of incidents

Small truck damage may appear to be normal, but it is costly to repair, especially in the absence of insurance. Truck insurance covers both minor and major incidents involving trucks and provides the owner with peace of mind.

Find the right truck insurance

Finding the most appropriate truck insurance cannot be done without consulting an experienced insurance broker in Brisbane. Bluewell is a trusted name among insurance brokerage firms that assists businesses and professionals in locating the right policies to ensure proper coverage in the event of truck damage. The firm can assist you in locating underwriters who cover the cost of repairs, plant accessories, and 24-hour claim assistance. You can also get an instant online quote by visiting the website of Bluewell.

What types of claims have got covered by Bluewell to date?

To date, Bluewell has encountered the below-mentioned types of claims:

  1. Rolling of a trailer where a tyre went off a sealed road, writing off the mini-excavator on the trailer
  2. Rolling of a Prime mover going around a corner
  3. Rolling of a side loader with a 20ft container, due to unforeseen equipment failure.
  4. Lose of ride on lawn mower due to not being secured adequately
  5. Prime mover crashing into a car due to the client not taking due care when cornering
  6. Theft of a ride on lawn mower
  7. Claim for truck breakdown
  8. Claim for loss of income due to accident

What is plant and equipment insurance?

Heavy construction equipment is covered by plant and equipment insurance. It includes both internal and externally leased equipment. Plant and equipment insurance is used by a variety of businesses in Australia. They mainly include agriculture, civil projects, construction, drilling, landscaping, utility repairs, and safety services.

Which equipment get coverage with plant and equipment insurance?

Air compressors, backhoe loaders, borers, cranes, chippers, diggers, crushers, dump trucks, wrecking equipment, and other equipment are typically covered under plant and equipment insurance.

Are you willing to get plant and equipment insurance?

Obtaining plant and equipment insurance is advantageous for a variety of businesses. Purchasing one after consulting with an ideal insurance broker in Brisbane can be extremely beneficial. Bluewell, as one of the most reputable insurance brokerage firms, offers instant online quotes and assists businesses in selecting the best insurance. To get the best help today, fill out the form on their website or call 1300 669 664.