All About Truck Rental Insurance
By Johnathan Young, Insurance Specialist, Truck rental.com Staff
The high cost of replacing a truck if in the event of an accident or damage during normal use, makes insurance a requirement and not something to avoid. Whatever your requirements for truck rental or leasing, you need to ensure you have the right insurance. Here are some points to remember when organizing your insurance.
Cost of the premium versus the cost of the excess?
In most situations you will have the choice to choose between a higher premium and a lower excess or have a lower premium or a higher excess. If you have a lower premium and higher excess it may seam like you are getting the best deal, but accidents and damage is more likely
What does the truck rental insurance cover you for?
There are many different types of insurance available and it is up to you to make sure you get the right truck rental insurance for your requirements. Make sure you ask the questions up front to make sure you have the right truck rental insurance before you leave the depot.
One of the main questions and things to consider when taking our truck rental insurance is does the proposed insurance cover all damage under all circumstances, Some insurances won't cover damage if you don't get the details of the other party, some may or may not cover you depending who is at fault, some may not cover you if you are off sealed roads.
Most often the contents of the truck can be very valuable and most often truck rental insurance won't cover you for damage to the contents of the truck. If you require the contents of the truck to be insured, shop around, or perhaps see if you can organize your own insurance for it.
Is there a better truck rental insurance available?
Most truck rental companies these days will properly inform you of all the available types of insurance available. But this isn't always the case and it is important to ask if there is a better insurance policy available.
Consideration for commercial truck rental and leases
When you a renting or leasing a truck for commercial purposes then there are other insurance considerations that you take into account. When you are renting or leasing a truck to be part of your business, then you should insure to make sure you don't lose income from your business if anything does go wrong.
For example, what if the truck breaks down? Do you have an agreement or insurance to provide repairs and/or a loan truck whilst the broken truck is getting fixed?
Do you have the contents insured? Unforeseen things can often happen, such as your fridge motor breaking down and the contents getting spoiled, an accident where again the contents are damaged and destroyed.
As a general rule, try and play the devils advocate and think of everything that could possibly go wrong. And if you couldn't afford to get through it if that thing happened, then insure against it.
