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Owner Operator Truck Insurance

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Owner operator truck insurance

Owner operator commercial insurance NZ

Owner operator truck insurance is a specific type of insurance coverage tailored for individuals who own and operate their own trucks. It provides protection against various risks and financial liabilities that can arise during the operation of a trucking business. This includes damages to the vehicle, potential injuries, cargo damage, and legal liabilities stemming from accidents.

Why is owner operator insurance important? 

Operating a truck, especially in a business capacity, comes with inherent risks. Whether it’s potential cargo damage, road accidents, or other unexpected events, truck owners are exposed to a range of challenges that can have serious financial repercussions. Owner operator truck insurance is a vital safety net in these situations. It not only protects your valuable investments – both the truck itself and the cargo it transports – but also shields you from potentially high legal fees and judgments.

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

It’s crucial to have owner operator coverage if your business:

  • Transports high-value goods
  • Operates intercity or interstate
  • Frequently traverses accident-prone zones
  • Uses specialized or customized trucks

What covers are typically included in owner operator truck insurance? 

Truck Insurance

Protects 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 vehicle 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 owner operator 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 owner operators for their liability when goods they’re transporting for customers are lost or damaged.

Best For
  • Goods damage
  • Transit loss 
  • Theft

How much does owner operator trucks insurance cost?

Owner operator insurance premiums are calculated on several different factors including:

  • Types of cover
  • Turnover
  • Location 
  • Claims History 

Owner operator truck insurance in NZ typically costs between $200 to $400 per month

Who needs owner operator truck insurance?

Anyone who owns and operates their own truck, especially for commercial purposes, needs this insurance. This includes:

  • Independent truck drivers
  • Small business owners with one or a few trucks
  • Transporters of specialty goods
  • Those offering transportation as a contracted service

No, however at the very minimum, third-party liability insurance is recommended. This covers damages to other people’s property and potential injuries.  For complete protection, it’s recommended to opt for comprehensive insurance.

Not always. Basic plans might cover only the truck. If you transport valuable cargo, it’s crucial to opt for a policy that includes cargo coverage.

How do I get proof of owner operator truck insurance

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

Acquiring a owner operator 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 trucking 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 owner operator truck insurance not cover?

Normal Wear and Tear

Over time, trucks naturally degrade. This regular wear and tear is not insured.

Cargo Spoilage

Unless you have specific coverage, spoilage due to refrigeration breakdown might not be covered.

Operational Violations

If damages occur while the driver is violating operational rules (like overloading), it might not be covered.

Other common questions about owner operator insurance

Absolutely! Insurance brokers, like Gerrards, work to tailor your insurance package to fit your unique needs. This ensures you’re covered where you need it most.

Contact us. We will guide you through the claims process, detailing the documentation and information needed.

Typically, yes. However, the driver’s record may influence your premium. Always notify your insurer about new drivers.

It’s possible. Premiums can be influenced by claim history. However, many factors play a role, so it’s best to discuss directly with your insurer.

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