Car and truck insurance

The Difference Between Car Insurance and Commercial Truck Insurance

Whatever type of vehicle you drive, it needs to be insured to protect you and the other road users. Some people do drive without insurance, but it’s a high-risk activity. If you are caught driving without a valid insurance policy you run the risk of losing your license and spending a spell in jail, depending on the severity of the offence. So what is the difference between regular car insurance and commercial truck insurance? Car and truck insurance

Car and truck insurance
Car and truck insurance

Car Insurance Basics
Insurance policies vary according to the country you drive in. Basic car insurance policies offer third party cover as well as protect the vehicle against fire, theft and accidental damage. Collision damage protection is common in some countries, as is medical fees protection cover. More comprehensive car insurance policies offer further protection against uninsured drivers, legal costs, and pretty much anything you can think of. With some policies you can even enjoy use of a hire car while your vehicle is out of action.

Commercial Truck Insurance Basics
Commercial vehicle insurance is a different kettle of fish. Regular car insurance cover would not be sufficient for a commercial vehicle. Most commercial vehicles cover a huge number of miles every week, which makes them more likely to be involved in an accident or suffer some kind of accidental damage. Added to this, commercial vehicles are very often carrying commercial loads, which also need to be insured against theft, loss or any kind of damage.

Legal Requirements
It is a legal requirement to have the correct level of insurance cover, irrespective of whether you are driving a large truck or a small car, but if you drive a truck or freight vehicle for a living, your chances of being caught are far higher. If you are delivering cargo for clients, they will expect your vehicles to be covered by insurance. Should this not be the case and something goes catastrophically wrong, not only will you be liable for damages against third parties as well as paying for the vehicle to be repaired, but the client could also sue you for the loss of their cargo.

How to Buy the Correct Insurance Policy
Whatever type of insurance policy you need, it is vital that you buy the right policy. Insurance policies vary a great deal, so it pays to think about the type of cover you need. If you end up with the wrong cover, it could be very costly, particularly if you are underinsured. Because commercial insurance is more complex than regular vehicle insurance, it is usually a good idea to talk to an insurance advisor before you buy a policy. An advisor will be able to answer any questions you might have, plus they will help you find the right policy for your business requirements.

Make sure you shop around for the best commercial trucking insurance. Prices will vary between different insurance providers, so don’t be tempted to buy the first policy you see or you could end up paying more than is necessary. Price comparison sites are less effective for commercial insurance, so it is probably a better idea to speak to a few insurance brokers or other transport companies instead.