Having truck insurance is something that is required by law today; that is, it is mandatory.
In addition to the fact that a vehicle must be insured to circulate legally, cargo and transport trucks also require civil liability insurance.
Another reason why having the best truck insurance is crucial is the cost of a trucking company. In a company, there are usually several trucks. Dangerous goods are sometimes transported and generally with different drivers.
When we add vehicle maintenance, repairs, and mishaps, the best option for a company with a large fleet of trucks is good coverage.
What is the Most Common Truck Insurance?
Depending on the type of company and the cargo you transport, some needs or others may arise. To give you a little idea, we will mention some of the most common insurances in transporting goods.
Cargo Insurance
It covers any damage that may be present in goods transported by trucks. Regarding the price, it will depend on the transported load, according to the volume or risk it entails.
Comprehensive Insurance
This is the most expensive insurance, but it can meet all your needs if there is a problem. In this case, the insurance covers the coverage of third parties, cargo, drivers, and trucks.
Trailer Exchange Insurance
This insurance is already a bit more specific, as it only applies to trucks with trailers. If the trailer is damaged, stolen, or lost for any reason, this is the best insurance for such freight.
Civil Liability Insurance
As we discussed earlier, this type of contract is mandatory. It is well-known third-party insurance. This may be the cheapest truck insurance. It covers the damage that your vehicle can cause to anyone in all types of accidents.
Collision Insurance
This is another type of insurance with broad coverage, for example, not only in the event of an accident but also in the event of a fire, vandalism, or natural causes such as floods.
Necessary Data to Hire Truck Insurance
When hiring Truck Insurance, we must complete and deliver a series of requirements and documents so that everything is in order. On the one hand, our data, and on the other, the respective ones that serve to ensure the truck itself.
Personal Data
In the personal data section, the insurance company will need the following information:
Personal Data of the Policyholder
The essential data for any paperwork process are the following: name, surname, ID, date of birth, sex, address, and profession. Therefore, when you go to sign insurance, this is the primary information required of you.
Personal Data of the Owner of the Insured Truck
If the policyholder is not the owner, they must provide the same information mentioned above.
Personal Data of the Vehicle Driver
The truck driving license will be added to this data. The insurance company will want to know other information, such as whether the driver’s license has ever been withdrawn and even the age of the driving license itself.
Finally, to contract insurance for the transport of goods, some additional data is added to the truck, such as the vehicle’s brand, its registration and registration date, and the use that we will give the transport, among others.
Truck Data
When contracting truck insurance, the insurance company requests a series of data necessary to carry out the corresponding procedures.
Type of Truck
First, we have to indicate the type of truck that we are going to insure. This can be rigid or tractor head. Next, we will see what the differences are.
Rigid Truck
These are those in which its structure consists of a single piece.
In this case, the insurance company will also request your cargo, which can range from four to more than 35 tons. This parameter is relevant since it largely determines the final price of the policy and, as such, is one of the main factors when evaluating it.
Tractor Head Truck
These are articulated trucks whose primary purpose is to drag one or more trailers to carry the load.
Use of the Truck
Another aspect that must be indicated is how the truck is used, whether public or private, that is, private. The public refers to the fact that the goods transported are for third parties, and in this particular case, the transport would be with their interests.
Scope of Circulation
In the same way, it must be detailed where the truck’s driving will take place, that is, what will be the scope of its circulation. This scope can be differentiated into the following categories:
- National scope.
- National and Portugal.
- Within the European Union.
- TIR (International outside the EU framework).
- Insularly.
This is another parameter to consider since it also determines the final price of the insurance, whose absolute value varies depending on the area where the truck will circulate.
Type of Goods to Transport:
Likewise, the goods to be transported in the vehicle must be specified. They differ between general, arid, and dangerous.
Regarding general merchandise and dry goods, it is not necessary to consider anything special. However, in the case of dangerous goods, you should remember that the insurance company may ask you to provide other information about them to guarantee their quality.
Truck Age:
Obviously, the older the vehicle, the more expensive the policy can be, and some insurance companies may not even consider insuring trucks that are older than specific years.
Finally, the estimated value of the truck must also be specified.
