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Truck Insurance Information Guide

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Truck Insurance as we all know is the insurance consumers purchase to protect their Truck. The purpose of Truck insurance is to safeguard the Truck against accidents, theft and any other loss incurred. Truck insurance can cover the insured party, the insured Truck and the third parties. Different policies specify the situations under which each of these items is covered.

There are different types of Truck insurances available. The policies vary with the need and wants of the person purchasing the policy. For example certain types of insurance policies include bodily injury liability, property damage liability and collision and comprehension coverage for physical damage to the insured vehicle.

Broadly speaking a Truck insurance policy is divided into five parts:

  1. Declarations - this part of policy contains personal information about the drivers. This includes their name and address, make and model of the vehicle, vehicle identification number, policy number, duration etc. This part also comprises of basic type of coverage that you purchased and your policy limits and deductibles. It is very important to provide correct information in this area; otherwise the insurance claim can be declined at ease.
  2. Coverage Parts - in this option the coverage limits such as liability are discussed. This section primarily outlines what your insurance company guarantees to provide in return for your payment, based on the coverage and coverage limits opted.
  3. Exclusions - this section briefs about what is left uncovered by your policy’s limitations. From here you will get to know that what all will be covered when you make a claim.
  4. Conditions - this section is all about legitimacy i.e. the legal bindings on the insurer and the insured. It includes premium payment obligations, steps to filing a claim, and guidance to resolve disputes.
  5. Definitions - also known as fine print, this segment is where terms and the rights of the policyholder and the insurance company are defined.

Truck insurance plans a regular flat charge per year, unless the information changes. Call us on 1300 726 113 to get a tailored insurance assessment for your biggest asset – your business.

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