Trucks and special machinery are usually the property of a company or a private entrepreneur. The business largely depends on its condition, and in the case of transportation services, maintaining a fleet in working order is a vital necessity. Due to damage to vehicles as a result of road accidents, the fulfillment of the company’s obligations can be frustrated, which negatively affects its image.
The Truck Owners and the Solutions
Consequently, the owner of a truck is not only interested in its insurance, but also in the minimum repair time for damage. And this in many respects depends on the promptness of the decision of questions on payment of insurance compensation and repair of trucks and other official transport. The correct approach to insurance will ensure the return of the vehicle in working condition in the shortest possible time and allows minimizing the simple and associated costs.
- In addition, cargo insurance purchased under leasing or on credit, is subject to compulsory CASCO insurance. Average tariffs for CASCO for truck tractors, trucks, refrigerators-semi-trailers, freight trailers and semitrailers, trailers, tractors, backhoe loaders, forklifts, etc. range from 2% to 4%. The highest CASCO rates for minibuses, vans and minibuses.
Full insurance of vehicles, cargo and drivers from injuries and accidents protects owners from financial claims and claims, for example, in case of damage and loss of cargo, in case of an accident with a foreign car, damage to the health of drivers, etc. Accident insurance provides an opportunity to provide effective medical assistance to drivers when getting physical injuries. The insurance premium for the risk “accident” is usually a percentage of the insurance amount, which can reach several tens or even hundreds of thousands of US dollars. The truck insurance quotes come quite important now.
The Truck Insurance Companies
CASCO truck insurance protects against significant material costs if the transport is damaged and will require significant repairs. This is especially important, since the restoration of such equipment is expensive. Spare parts for trucks are very expensive, and insurance of this type of transport solves several problems at once: it provides an opportunity to repair expensive equipment at the expense of the insurer, covers losses of the organization in case of complete loss, or hijacking of the insured truck, provides insurance coverage to the driver, and also protects property interests of the insured to third parties. In the presence of an insurance policy, these costs are borne by the insurance company.
Expert estimates show that the acquisition of the CASCO policy for trucks is not a luxury, but a necessity. So, the full CASCO covers the damage arising from road accidents, natural disasters, and also guarantees compensation payments in case of theft or hijacking of the vehicle.
Some insurance companies now also offer special conditions for issuance of the CASCO policy for trucks, for example, insurance only from damage caused by natural disasters. These types of CASCO insurance are determined based on the specifics of the routes of movement of the freight vehicle.