What is commercial truck insurance?
Alberta is a trucking powerhouse. According to recent stats, its trucking industry generated $11.9 billion in revenue, second only to Ontario. It carries roughly 10-15% of Canada’s total cargo. Behind these numbers there are countless trucking businesses operating daily in a competitive and high-risk environment. But without proper insurance, one accident can put the entire business in serious jeopardy.
Commercial truck insurance refers to a specialized auto insurance that covers trucks, independent owners, and truck operators and protects them in case of a mishap. This could be anything from damage due to an accident, to theft, vandalism, fire, or passenger accidents. Commercial auto insurance, physical damage insurance, cargo insurance and non-trucking liability are a few kinds of commercial truck insurance coverages.
To begin with, basic truck insurance in Alberta is mandated by law and is a requirement for the application of your trucking license. Moreover, many insurance policies primarily protect the public; however, having truck insurance in Alberta has long-term benefits. To avoid major monetary losses and risks, it’s important to have coverage that protects you as well. You want to be insured against any liability or damage caused by your vehicle. That’s where we come to your rescue. Let’s start by learning more about the requirements and needs of this insurance.
Why do you need commercial truck insurance?
- Even the most skilled drivers can get into accidents, risking their lives as well as those of others. In a situation like that, if you do not possess proper truck insurance or a license, it can be a huge liability when considering the costs of repair or replacement.
- That brings us to another scenario where you are facing injury claims or lawsuits from a third party. Though regular insurance might not be able to protect you from a major lawsuit, it will help prove your credibility and establish you as an honest, reliable business in front of the law.
- What would you do if your vehicle got stolen or vandalised? Without proper protection, you would be left stranded, with no proof of the crime or law to back your claims.
- A lot of the time, experienced clients, contractors, and companies who have been in the business for a long time will demand proof of insurance before signing a contract. That is when you have to be ready with the right documentation in hand, making sure you’re not left being perceived as an unreliable business with no proper knowledge of the industry.
Primarily, having proper truck insurance in Alberta is a safety net to fall back on in unexpected circumstances like these. You cannot control them, but you can ensure that you have the right equipment to handle them.
Who needs commercial truck insurance?
- If you are an independent truck driver or owner-operator,
- If you are a company providing commercial transportation for a fee to other businesses.
- Trucking contractors can’t operate on Alberta roads legally without getting their liability insurance.
- If you are any enterprise involving trucks, drivers, or performing any activity related to transportation that requires an auto vehicle.
If you’re working or looking to work in this business, having proper coverage is a must, as it shows financial responsibility, professionalism, and credibility.
Conclusion
When getting commercial truck insurance in Alberta, it’s important to have a comprehensive understanding of policies that protect you in times of need. Many new operators or owners in the industry think of it as a challenging or time-consuming task, but with A-Kan, it’s simpler than before.
Our dedicated agents and experienced brokers guide you through every step of the process. We help you compare policies, customize coverage, and secure protection tailored to your business. Don’t navigate the insurance world alone. Contact us today to get a quote and drive with confidence!
