What to Look for When Shopping for Heavy Motor Insurance
Heavy motor insurance is vehicle insurance provided for vehicles that are considered heavy-duty, or that haul heavy equipment such as cranes and earthmovers. Because these vehicles may cause more damage to other vehicles and property during an accident, and because they are typically more expensive than standard cargo trucks and delivery vans, they will require specialized insurance.
When shopping around for heavy motor insurance, you want to ensure you know what to expect from a broker and know your options. Like standard car insurance, each company that offers coverage will be different, but knowing what to ask for can make the process easier for you and even wind up saving you money. Note the following.
1. Do they offer accident assist?
If your heavy vehicle is in an accident, having assistance provided by your insurance company can make the event less stressful for you overall. This might include towing service for your heavy vehicle, load recovery, returning the driver to a certain location, and even site cleanup. Having to arrange all these details yourself after your vehicle has been involved in an accident can be difficult if you don't know which service provider to call for towing a heavy vehicle or for assisting in cleanup. Ask your heavy motor insurance carrier if they provide this accident assistance and the cost, and consider investing in this coverage.
2. Can they offer risk management assessment?
Risk management assessment may include visiting your location and inspecting your vehicles, and even offering additional training to drivers. A comprehensive risk management report can allow you to make changes to your heavy vehicles and upgrade safety equipment in order to reduce the risk of an accident; it might even lower your heavy motor insurance premiums, so be sure to ask about this.
3. Note if you need dangerous goods coverage
Hazardous materials often require specialized cleanup after an accident and, in some cases, may cause more property damage than nonhazardous goods. If your vehicles regularly carry hazardous or dangerous goods, you need to ensure that you have this covered in your insurance policy. It may include a higher premium than coverage for nonhazardous goods, but if an accident involved dangerous materials and this wasn't covered, your insurance carrier might argue and deny your claim. If you're unsure of what falls under the category of dangerous goods for insurance purposes, ask your broker for a list of items considered hazardous.
For more information, contact an insurance company that offers heavy motor insurance, like Elders Insurance.
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