Truck and Transport Insurance

Commercial motor insurance may cover accidental loss of or damage to insured trucks and other scheduled vehicles, subject to the basis of cover selected and the policy terms. Options can range from comprehensive cover to more limited forms of protection.

Cover may respond to the insured’s legal liability for damage caused by an insured vehicle to another person’s property. The scope of vehicle liability cover, including any dangerous goods or clean-up exposure, depends on the insurer, policy wording and selected limits.

Owned trailers, non-owned trailers in your control and support vehicles may require different treatment. KBI can review how trailers are owned, hired, interchanged or used and whether they need to be specified or separately insured.

Transport businesses can face liability exposures away from the driving task, including loading, unloading, warehousing and other business activities. Public and products liability insurance may respond to covered legal liability for third-party personal injury or property damage, subject to the terms, exclusions and limits of the policy.

Commercial carriers may need insurance addressing loss of or damage to customers’ goods while in their care. The appropriate cover depends on the freight, the basis of liability under transport contracts and whether protection is sought for specified events, accidental damage, legal liability or another agreed basis.

A business carrying its own stock, tools or equipment may need goods-in-transit or another form of property cover. This is different from cover arranged for a carrier’s responsibility for customers’ goods and should be assessed separately

Where available and selected, downtime or business interruption cover may provide an agreed benefit or respond to specified financial loss when an insured event keeps a vehicle off the road. Waiting periods, benefit periods, limits and qualifying events apply.

Policies may provide benefits for towing, recovery, emergency costs or removal of debris after an insured event. These benefits can be subject to sub-limits, approval requirements and different treatment for loads such as dangerous or environmentally sensitive goods.

Depending on the insurer and the risk, options may be available for replacement vehicles, hire costs, finance shortfalls, accessories, tarpaulins, driver personal effects or newly acquired vehicles. These features should be checked against the final schedule and wording rather than assumed.