Truck Insurance Australia Guide: Best Companies to Choose From

truck-insuranceCommercial truck insurance is a must for the owners/operators of companies offering trucking services in Australia. The coverage provided by the insurance policy is a form of protection against potential losses brought by lawsuits, vehicle repairs, and medical expenses, among others, in the event of accidents wherein the covered trucks are involved.

Like all types of products and services Down Under, choosing the best type of vehicle insurance for trucks can be tricky considering the wide range of coverage to choose from and the wide selection of companies offering it. The best thing to do then is to start by compiling a shortlist of the best insurance companies to choose from and then making your choice according to your specific needs in truck insurance.

Allianz Australia Insurance Limited

When it comes to insurance products and services, Allianz Australia Insurance Limited is one of the leading providers in the industry. It maintains offices across Australia and New Zealand and operates via its subsidiaries in these countries with its products including a wide range of insurance plans including commercial vehicle insurance.

Its reputation in both countries is excellent mainly because of its reliability in claims disbursements, in customer service, and in updated technologies.

Trivia: It has been named one of the top general insurers in Australia for three times, which should speak volumes about its reliability in the industry.

AXA Corporate Solutions Assurance

Yet another leading provider of insurance plans in the Land Down Under is AXA Corporate Solutions Assurance. It is part of a worldwide conglomerate of autonomously run businesses, which are operated according to the laws, rules and regulations of their respective countries. It has five operating business segments, of which the Property & Casualty segment presumably provides for truck insurance products and services.

Berkley Insurance Company

The Berkley Insurance Company has several segments in its property casualty insurance business including Insurance International and Reinsurance-Global, both of which have operations in Australia. It is well known in the industry for its reasonable premiums, relatively quick claims process, and satisfactory customer services, all of which continue to make Berkley a strong competitor against the likes of Allianz and AXA.

GIO General Limited

First founded as the Government Insurance Office as a provider of workers compensation in 1927, GIO General Limited has since morphed into one of the largest home and motor insurance provider in Australia. It is now part of AMP Limited as a provider of general insurance, among others, but it continues its strong commitment toward local initiatives.

Note: Plan holders must carefully read their Product Disclosure Statement to avoid future misunderstandings about the coverage for truck insurance. Then again, this is also true for all the insurance companies mentioned here; knowledge is power and it applies to insurance as much as to other products and services.

These are just a few of the insurance companies in Australia, of course, so a more intensive online search coupled with local searches should be performed to get a full list of these organizations. Avoid choosing an insurance company based on recommendations from family and friends alone although it must be said that these are viable sources of information, too.

Just be sure to compare the quotes for truck insurance plans in terms of the coverage provided (e.g., basic and comprehensive), the premiums and deductibles, and the claims process as well as the customer service.