How do Truck Insurance Brokers Calculate Quotes


A truck insurance policy is a legal document

The truck insurance provided is subject to payment or agreement to pay the premium to your truck insurance broker within an agreed time and you need to refer to your broker for details. There can be pitfalls that you should be aware of when seeking the ‘right truck insurance’ and you should deal with a dedicated Truck Insurance Broker.

Things you should look for when looking for truck insurance: *The insurer and their agreements *Words with special meanings *Cooling off periods and cancellation rights *Privacy Agreement *Disputes *Duty of Disclosure * General Insurance Code of Practice *Effects of Taxation

Conditions of Cover include: *What the insurer will cover*What the Insurer will not Cover *Additional benefits including optional covers *Claims and how any excess will apply *What liabilities you are covered for *How GST applies to you and your business *Any general conditions of the insurance policy.

A cheap premium does not mean you have the ‘right’ insurance. It could mean that you do not have the ‘correct’ insurance for your needs.

In order to calculate the truck insurance premium, various factors are considered

*the type and value of vehicle or vehicles *the type of freight carried *the kilometres travelled *the type of cover requested *the age and specific experience of all drivers *the location and operating radius of the vehicle or vehicles *the loss and claims history from previous years *the type of risk management procedures undertaken by your business

Your insurance premium also includes any relevant compulsory government charges, taxes or levies (eg GST, Stamp Duty and Fire Service Levy). The premium and these amounts where applicable will be set out separately in the schedule.

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