Truck driver insurance: what every professional needs to know
Ask a driver what insurance they have and most will describe the truck's policy. The more useful question is what happens to their income if they cannot drive, and the answer depends entirely on how they are engaged.
Employed, and largely covered
As an employee you are covered by your employer's workers compensation for work injuries. It replaces a portion of wages and covers medical costs, which is meaningful protection.
What it does not do is cover you outside work, or top your income up to full pay. For a driver with a mortgage geared to overtime, that gap can still be significant.
Subcontracting, and largely not
An ABN subcontractor generally sits outside the principal's workers compensation and is expected to carry their own liability and income cover. Many drivers who feel like employees are contracted as subcontractors and only discover the distinction after an injury.
If you invoice through an ABN, provide your own vehicle, or were told you are a contractor, assume you are outside the employer's protection and check the agreement.
What to actually buy
Income protection or personal accident and sickness, sized against how long you could genuinely go without a payment. The waiting period is the lever: shorter costs more and suits drivers with no buffer.
Public liability, because principals commonly require it and because you are working around other people's property well away from the wheel. As a sole trader you generally cannot hold workers compensation on yourself, which is precisely the gap these fill.
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).