Transport industry moves to top insurance brokers

Insurance isn’t an optional extra for people in the transport business, whether you’re a one

truck operator or run a large fleet.

Brokers with experience in transport insurance can provide real valuebymaking sure you’re

getting the quality cover you need at a competitive price.

A broker can help step you through the risks your business faces and provide strategic advice

about how to keep those risks to a minimum.

Risks can then be transferred via insurance, retained under controlled conditions or

eliminated (by changing contract terms or operational processes).

In assessing the risks, your broker will ask you about the loads or passenger numbers you

carry the roads you drive, how far you drive, where your truck is parked when not in use,

previous accidents and many other questions.

Insurance brokers can save you a lot of time and hassle when it comes to choosing insurance.

As experts in the marketplace, they know what different insurers have to offer and can do the

“shopping around” on your behalf.

If there is no existing policy which covers what you need, a broker can put together a

customised policy for you and negotiate to place it with an insurer.

Although insurance companies also have “authorised representatives”, they can usually only

sell the policies of that particular firm.

While every transport business needs insurance, no-one wants to be in the position of having

to make a claim.

The unfortunate truth, however, is that accidents can and do happen. That’s not surprising

considering that trucks drive over 16 billion kilometres on Australia’s roads every year. If

you do need to make a claim, your broker is in your corner throughout the process to

minimise disruption and delay.

If you have an incident, it’s important to gather as much evidence as you can. In-cab cameras

can be invaluable in this situation, along with accurate paper records and logbooks.

The right truck insurance should include the costs of towing, driver transport, replacement

truck hire, liability and even driver overtime costs.

For buses, you may require cover for emergency transport in the event of a break-down, or

passenger accommodation if there’s an incident at night.

Industry operators who carry fuel or dangerous goods have particularly stringent insurance

and risk management requirements, which a broker can help to meet so that you can respond

quickly to an emergency day or night.

Insurance premiums are a significant cost to the transport industry. The good news is that you

can reduce premiums by achieving a good safety record. Recruiting staff based on safety

performance, training to increase driver skill and regular vehicle maintenance all help.

Other steps you can take to potentially reduce your premiums include installing GPS tracking

systems and in-cab cameras or agreeing to a higher excess on any claims.

And, finally, you can speak to a broker with expertise in transport insurance to make sure

you’re getting the best possible value for money for your insurance dollar.

The above advice is for general information and has not taken into account your personal

circumstances.

Here the author, James, writes this content about transport insurance brokers. If you have

any query about services, visit our website http://www.ebminsurance.com.au/ or feel free to

call us on 1300 467 873