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Long Haul Truck Insurance

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Long haul truck insurance

Long haul commercial insurance NZ

Define long haul truck insuranceLong haul truck insurance is a type of specialized coverage tailored for trucks and their operators who cover vast distances. In simple terms, this insurance is for trucks that often travel between cities, regions, or even the entire length of New Zealand. Given the long distances these trucks cover and the time spent on the road, this insurance protects against a range of potential risks that can arise.

Why is long haul truck insurance important? 

Protection is paramount. Long haul trucking encounters varied terrains, unpredictable weather, and potential hazards. This insurance provides peace of mind, safeguarding against unforeseen financial damages from any incidents on the road.

In New Zealand, the average cost of long haul truck insurance typically ranges between $200 – $400 per month. 

It’s crucial to have long haul truck coverage if your business:

  • Transports goods across large distances
  • Operates multiple long-haul vehicles
  • Wants financial protection against mishaps
  • Aims to enhance its credibility

What covers are typically included in long haul truck insurance? 

Truck Insurance

Protects long haul trucks. It covers accidents, damages, and injuries related to the vehicle while it’s being used for business activities.

Best For
  • Repair costs
  • Third party damages
  • Injuries 

Loss of use

Coverage that helps when your truck is unusable due to an accident. It covers the cost of a temporary replacement vehicle, so you can still get operate your business whilst it is being repaired.

 

Best For
  • Temporary vehicle
  • Reimbursement expenses
  • Accident downtime

Public Liability

This policy covers common long haul trucking business risks including bodily injuries, customer property damage, and advertising injuries. 

Best For
  • Business Accident Coverage
  • Third-party Damages
  • Legal Cost Protection

Carriers Liability Insurance

Carrier’s liability insurance in New Zealand covers long haul operators for their liability when goods they’re transporting for customers are lost, damaged, or delayed. 

Best For
  • Goods damage
  • Transit loss 
  • Theft

Management Liability

Management liability insurance in NZ shields long haul trucking company leaders from legal and financial risks due to their managerial responsibilities.

Best For
  • Directors liability 
  • Employment disputes
  • Legal defence

Statutory Liability

This cover is a type of protection that helps long haul trucking businesses cover costs if they accidentally break certain laws or regulations.

Best For
  • Unintentional breaches protection
  • Legal costs
  • Fines and penalties

How much does long haul trucks insurance cost?

Long haul truck insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Long haul insurance in NZ typically costs between $200 to $400 per month

Who needs long haul truck insurance?

Anyone who operates or owns a long-haul trucking business in NZ needs this insurance. This encompasses independent truck drivers, fleet owners, and businesses that involve transporting goods over long distances, irrespective of the frequency of their operations.

No, however due to the time on the road and high replacement cost of the trucks. Long haul truck insurance is highly recommended.

A deductible is the amount you pay out-of-pocket for a claim before the insurance kicks in. For instance, if you have a NZD 1,000 deductible and a NZD 5,000 repair bill, you pay the first NZD 1,000 and the insurance covers the remaining NZD 4,000.

How do I get proof of long haul truck insurance

You can usually get proof of long haul truck insurance same day when you purchase insurance through Gerrards.

Acquiring a long haul truck insurance certificate from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof for an imminent contract or lease.

To obtain insurance coverage promptly, contact one of our truck insurance brokers. We may require you to provide some fundamental details about your business, such as:

  • The name of your business
  • The total number of employees
  • Predicted annual income
  • Years of experience in the industry

What does long truck insurance not cover?

Normal wear and tear

Routine degradation from truck usage isn’t covered. Just like personal vehicles, trucks experience wear and tear. Brake pad replacements, tyre changes due to regular use, or interior damages from age aren’t covered.

Contractual liabilities

Damages due to a breach of contract. If a business agreement or contract is breached, causing a financial loss or damage, it’s typically not covered.

Cargo degradation

Loss due to perishable cargo’s inherent nature. If transporting perishables and they degrade due to their nature (not due to an accident), it’s not covered.

Other common questions about long haul truck insurance

Absolutely! Just like other insurance types, long haul truck insurance can be customized. You can choose from different coverage levels, add-ons, and policies to match your specific business requirements.

Generally, yes. If you change or upgrade your truck, most insurers will allow a transfer of the policy. However, there might be changes in the premiums based on the vehicle’s make, model, and condition.

Yes, many insurers offer discounts for drivers with a clean driving record. Regularly attending safety training or having advanced safety features in the truck can also lead to discounts.

Some policies offer downtime coverage, compensating for lost income when the truck is off the road for insured repairs. Ensure to discuss this when getting your policy.

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