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4 Things you need to know when considering Truck Fleet Insurance

1. Should I use dashcams in my truck fleet?

David Summers, Director of Ausure Horizon shares – “We are regularly questioned about the premium savings of Cameras. Whilst insurers do not provide a discount on premiums as such, I have seen the direct impact of what having Dashcams installed in your fleet of trucks can do. Unfortunately, Truckies and large plant and machinery items are blamed for accidents where it was the third party at fault. Having dashcams installed allows the driver and or trucking business to prove what happened on the road, and therefore, defend themselves from claims.

Wrongful claims impact business owners’ insurance for years to come by increasing premiums each year. Cameras being installed on trucks saves the transport industry thousands by the way they assist in defending wrongful claims against our truck drivers.

2. I’ve had multiple claims and can’t find anyone to insure my truck fleet.

You may have suffered a number of adverse claims over the years and the insurance options are drying up or non-existent. If this is the case, we can explore a burning cost option. In this scenario, a Deposit Premium is paid which is generally a little less than the conventual or Flat premium. At the end of the period, an adjustment is made if the claims exceed the allowed percentage. The maximum adjustment premium is always known at the beginning of the policy period before the policy is taken out. If the claims are good and under the threshold, then-No adjustment is paid or only a proportion.

3. Select your excess amounts and Lodgment of Claims CAREFULLY

A comprehensive Truck Insurance policy is often the obvious choice when looking to insure your fleet. It’s often quick and can be written as a standard conventual insurance policy. However, the Excess taken can have a huge impact on your premium for many years. You need to consider that each claim will remain disclosed and impact the premium for up to the next 5 years. This also impacts the desirability of the policy to alternate insurers.

Summers explains – “For the majority of our clients, with vehicles under 100k in value and carrying a 1k excess, I often talk my clients out of lodging claims with a repaid value below 3k… However, if the policy has been clean and there have been very few incidents our decision can change from time to time. Standard Excess on Trucks generally sit at 1% of the sum insured or $1,000 whichever is the higher, You can nominate to take for example a 5k excess. Depending on the fleet size, the upfront savings could be in the 10s of thousands. Along with playing with the excesses nearly all of our larger transport operators and Fleet insurance policies carry a Claims experience discount (CED) which is negotiated at renewal.”

If achieved, depending on what has been provided at renewal, our clients can receive between 10-20% back on the Premium paid at the beginning of the insurance term. The CED is normally paid and calculated 90 days following the expiry/renewal of the policy.

4. Only use a Truck and Mining Industry Insurance Specialist

When considering Insurance for a transport business most go directly to a Comprehensive conventional policy without considering alternatives. Whilst the products on the surface look the same, the way they are managed can have huge impacts on future premiums and the businesses themselves.

Ausure Horizon works closely with the transport and mining industries and has an in-depth knowledge of not only what type of cover you should consider, but what insurers are reputable. Not all insurers are created equal. There are insurers that have risen to the top and have become industry staples – it’s important for Truck Fleet owners to understand that you shouldn’t always go chasing the cheapest quote. Using a broker that specialises in the Trucking industry, will ensure you are only presented with reputable insurers.

Using an industry specialist such as Ausure Horizon will also play in your favour during claims time. Not only does a broker manage the entire claim for you, but we understand the industry well enough to ensure you get the outcome you deserve.

If you require truck fleet insurance, and aren’t quite sure where to start, click here. 


“Insurance is only great when it pays out on a claim. Brokers should actively manage the claims that are submitted. The management of an insurance program is constant – 365 days of the year. Ausure Horizon pride itself on being available to you at all times of the day and night. We are here to assist you when you need us most – during a claim.”


David Summers, Ausure Horizon

About Ausure Horizon – National Trucking and Heavy Machinery Specialist

Ausure Horizon Insurance believes that every business is uniquely different. We understand that business owners and managing directors often have very different views on insurance, and the way they would like claims handled.

We take the time to educate businesses on the insurance products available to them, as well as the cause and effect of claims – allowing them to make informed decisions.

Now more than ever it is important that Transport and trucking businesses work closely with their insurance brokers throughout the year to assure insurance solutions will be available to them in the years to come.

If you want an obligation free chat or review of your situation, contact us today.


Ausure Horizon Insurance

Ph: 1300 630 000
Address: Suite 1, Level 6, 384 Hunter Street,
Newcastle NSW 2300, Australia

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