Prime Mover Insurance
A prime mover is the most expensive thing most operators own, and it earns nothing sitting in a workshop. That combination, high capital value and high cost of standing still, is what should drive how the policy is built rather than the premium alone.
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What prime movers insurance covers
Agreed Value, Not Market Value
A late-model prime mover depreciates fast on paper and slowly in reality, and market value is assessed on the day of the claim. Agreed value fixes the figure at inception, which matters most when the unit is financed and a shortfall lands on you rather than the insurer.
Downtime Is the Real Loss
A written-off prime mover takes months to replace at current lead times, and a damaged one can sit waiting on parts. Downtime cover sized against a realistic repair window, not an optimistic one, is what keeps a linehaul contract alive while the unit is out.
The Trailer May Not Be Yours
Prime movers routinely tow trailers owned by a customer or a depot. Your motor policy covers your unit; a hooked-up trailer belonging to someone else needs trailer in control cover, and it is the single most common gap we find on prime mover policies.
Finance and Shortfall
Most prime movers are under finance. If a total loss pays less than the balance owing, the difference is yours. Shortfall cover addresses that, and it is worth costing whenever the loan term runs longer than the depreciation curve.
Driver Experience Moves the Premium
Insurers rate heavily on who is behind the wheel: licence class, years held, age and claims history. A stable, experienced driver list is one of the few levers that genuinely moves a prime mover premium, so keep the schedule current rather than adding drivers ad hoc.
Cover, limits and examples shown are general in nature and subject to eligibility, underwriting and the terms of the issued policy.
Reviews are for Stonewell Insurance, the business behind Truckie Cover. Authorised Representative of McLardy McShane Partners Pty Ltd (AFSL 232987).
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Truckie Cover is a trading name of Stonewell Insurance Pty Ltd (ABN 23 645 965 699), Corporate Authorised Representative No. 1285612 of McLardy McShane Partners Pty Ltd (ABN 14 064 465 309, AFSL 232987).