Just Starting My Trucking Business: What Coverages Do I Need?

‍

1. Single Truck Insurance

If you’re just starting out with one vehicle, single truck insurance is your first essential coverage. This typically includes third-party liability, collision, and comprehensive options. It ensures you’re covered whether your truck is on the road, in the depot, or in storage. For many owner-operators, this is the starting point of building a secure business.

2. Truck Trailer Insurance

If you're pulling a trailer behind your truck, you need truck trailer insurance. This coverage protects your trailer against damage, theft, or accidents, especially when the trailer is not attached to your truck. Whether you own the trailer or are leasing it, your insurer needs to know so you’re not left unprotected.

3. Insurance for Truck and Trailer Combo

Many insurers offer a combined policy insurance for truck and trailer. This can simplify your coverage and reduce premiums. It’s ideal for businesses that use a dedicated trailer with a single truck. Coverage can include both liability and physical damage for both units in one policy.

4. Specialised Tow Truck Insurance Brokers

If you're in the towing industry, working with tow truck insurance brokers is highly recommended. These brokers understand the unique risks tow trucks face, including liability while loading/unloading vehicles, roadside operations, and damage during transit. A specialised broker can tailor a policy that meets your operational needs and regulatory requirements.

Final Thoughts

As a new trucking business, investing in the right insurance isn’t just a legal requirement, it’s a smart business decision. Consider the type of work you’ll do, the cargo you carry, and the distances you’ll travel. Partnering with experienced tow truck insurance brokers or insurers specialising in truck trailer insurance can help you build a strong foundation.

Disclaimer: The information provided in this blog is general in nature and for informational purposes only. It does not constitute financial or insurance advice. You should consult with a licensed insurance broker or advisor to discuss your specific needs and ensure you are adequately covered.

‍

Call us to get your quote today 1300 069 570

‍

‍

‍