How to choose a truck insurance policy
Comparing truck quotes is difficult because they are rarely the same product. Here is the order we work in, and the three numbers that make two quotes genuinely comparable.
Describe the work before you price it
What you run, how it earns, and what you are responsible for while it does. Those three answers determine which insurers can write you at all, and getting them right is more consequential than any comparison that follows.
Include the marginal parts: the occasional interstate run, the trailer that is not yours, the subcontract work. Each changes the policy and each is cheap to include up front.
The three numbers that matter
Sum insured, and whether it is agreed or market value. Excess, including any additional excess for particular drivers. And the carriers or goods limit, per event.
If those match across two quotes, the premium difference is real. If they do not, you are looking at two different products and the cheaper one is cheaper for a reason.
Then look at what is elected
Downtime, hire vehicle, machinery breakdown, trailer in control and scheduled fit-out. These are where the difference between an adequate policy and a good one lives, and where a low quote usually got low.
Finally, ask what happens at claim time and who argues it for you. That is the part of the purchase you cannot evaluate until you need it, which is exactly why it is worth asking about beforehand.
Cover this article touches on
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Any advice on this website is general advice only and does not take into account your objectives, financial situation or needs. Before acting on it, consider whether it is appropriate for you and read the relevant Product Disclosure Statement (PDS).