How Does Trucking Insurance Work for Long Haul and Fleets


How Does Trucking Insurance Work for Long Haul and Fleets

Long Haul and Fleets are commonly used commercially for long-distance transportation of 250 plus kilometers. Driving such heavy vehicles on long routes requires experience and understanding of related rules and regulations of different Canadian provinces that one needs to cross while travelling. Apart from driving regulations, it is also important to understand and follow cargo handling laws. When you are in a business that involves the transportation of cargo or goods from one end of the country to another end irrespective of the weather conditions, there is a huge risk involved. There is a possibility of any type of accident causing damage to one’s or third party vehicle, damage of goods, or even causality. Any such situation can put you in legal or financial problems. It is important to guard yourself and your business against any such unexpected risks with Trucking Insurance.
iSmart is a renowned insurance broker offering a range of customized insurance plans that matches clients’ personal and business needs the best. When it comes to Trucking Insurance iSmart is one of the most experienced insurance brokers in Canada. We design specialized packages depending upon your specialized business needs starting from commercial car insurance to fleet insurance.
Truck Insurance at a Glance
Truck Insurance provides insurance coverage for commercially used heavy vehicles starting from Trucks, Long Haul, Fleets, etc. Truck Insurance provides coverage for a single truck to multiple trucks. If you have four or more commercial vehicles you can go for Fleet Insurance.
Basic coverage under Truck Insurance is for damage or injury caused because of an accident. Collision and comprehensive coverage available include other possible reasons for damage caused. Having basic Truck Insurance is made mandatory by the Canadian Government. You can add other optional coverage like cargo, coverage, non-trucking coverage options, and many more depending upon your needs. 
Do You Know?
Almost 2000 Canadians get killed and 10,000 suffer severe injuries every year because of heavy trucks in Canada.

Challenges and Risks Faced by a Long Haul Trucking Business and Drivers

  • Managing long working hours 
  • Following rules and regulations  
  • High risk of damage of cargo because of long-distance, resulting in rejections of shipment
  • Working hours are long leading to fatigue
  • High-stress level

How Trucking Insurance Guard Your Business?

A Trucking Insurance is specialized insurance that covers risks involved with your trucking business. Ways in which Trucking Insurance protects your business:
  1. Protection against Physical Damage: In case of an accident, the cost of repairs will cost a fortune. Putting off the vehicle from business will be an additional loss that you don’t want to bear. Trucking Insurance will save you in such a situation and cover you for repairs and replacement of your vehicle as soon as possible.
  2. Coverage against Public Liability: The coverage covers third-party liability caused in case of an accident like anyone gets injured, any damage to other’s property, or repair cost of your vehicle in case of damage caused because of another driver’s fault in a collision. The partial repair cost is covered in case the collision is partially your driver’s fault. The accidental benefits are there providing coverage for the cost of recovery, any type of disability caused, or in case of death.
  3. Comprehensive coverage against General Liability: Commercial General Liability (CGL) coverage is a must for any business involving vehicles and covers any type of damage or injury caused while the vehicle is within your premises. It provides coverage against any breach of contract or usage of products or services offered by you. The CGL coverage varies from business to business. To have more clarity on what type of coverage you can get for your business, you can call iSmart insurance advisors anytime.
  4. Coverage for Cargo: Often the cargo or goods transported by Long Haul or fleets are considered the responsibility of truckers while transportation. Any damage caused to someone else’s goods while transportation will be considered as trucker’s liability. Truck Insurance offers coverage for any damage caused to cargo while transportation or is placed at your warehouse or storage facility.
  5. Interruption in Business: Coverage is there If because of losses incurred in business or due to mandatory evacuation you have to stop your business. It helps you in getting back into the business. Some of the insurances also provide coverage in case of relocation.
  6. Theft/ Fraud: It is possible to get coverage against any type of business-related offence like theft, forgery, or fraud.
  7. Coverage for Equipment Repair/ Replacement: You can buy additional coverage for Equipment Breakdown that will cover the cost incurred for repairs or replacements of parts of equipment.
  8. Benefits to Employees: Some employers buy employee benefits for their employees under Truck Insurance. This will provide health benefits, disability and death coverage.
Truck Insurance is for
  • Truck drivers/ owners
  • Transportation Business
  • Any type of business involving trucks, Fleets, etc., or any type of transportation activity
The cost of Truck Insurance depends on different factors like
  • Make and model of vehicle
  • Your business location
  • Areas you cover
  • Claim history
  • Number of vehicles need to be insured
  • Type of cargo you are transporting

The cost will depend on the type of business and the type of coverage it will require. To get the best rates you must compare rates and coverage from different insurance companies and then decide. iSmart Insurance can save you all the time that you have to put into research. We have Canada’s top insurance providers as our partners and you can check rates from different insurance providers on our website. iSmart has a team of insurance experts that can tailor the Truck Insurance as per your requirements. We understand the need and challenges a Long Haul and Fleets face in different climatic conditions and routes across Canada and offer comprehensive plans that provide maximum coverage at affordable rates. Our team is always available to assist you throughout the process.