Key Takeaways:
- What’s included in a truck insurance quote (and what’s not).
- The difference between Comprehensive cover, Third Party Property Damage, and other policy types.
- How factors such as vehicle type, cargo, and business use affect your price.
- Add-ons like downtime cover and transit insurance can save you when things go wrong.
- How to compare insurance providers and read the fine print before you sign.
- What to expect during the claims process and how to avoid delays.
If you own a truck or manage a fleet, insurance isn’t optional; it’s essential. In 2025, getting a truck insurance quote is more than just filling out forms. Insurers assess what you drive, how you use it, and your claims history before offering cover. And you can compare offers only from APRA‑authorised insurance companies to make sure your provider meets national standards.
Want a Quote in 60 Minutes?
If you’re short on time, we offer a 60-minute rapid quote turnaround for eligible businesses. That means less waiting, more peace of mind, and faster protection for your truck or fleet.
Get your truck insurance quote in under 60 minutes here!
What is Included in a Truck Insurance Quote?
Most insurance companies include several critical components in your quote. Review the Insurance Council of Australia guidelines to understand industry best practices for commercial motor insurance, including how risks like property damage and liability are handled.
Most insurance companies will include the following in your truck insurance quote:
1. Type of Cover
You’ll typically choose from a few key policy types:
- Comprehensive cover – Covers your truck for theft, accidental damage, vandalism, and property damage to others, even if the accident was your fault.
- Third Party Property Damage – Protects you if your vehicle causes damage to someone else’s vehicle or property, but not your own.
- Third Party Fire and Theft – A balance between cost and protection, covers others’ property, plus fire or theft damage to your vehicle.
You may also consider Public Liability Insurance, Compulsory Third Party (CTP), or Third Party Insurance, depending on your operations and state requirements.
2. Business Use and Specific Activities
Your quote reflects how and where you operate:
- Local, regional, or national transport
- Dangerous goods, refrigerated goods, or mobile plant operations
- Business-related storage or depot details
Your business use directly affects pricing and eligibility.
3. Vehicle Information
Insurers evaluate:
- Truck make, model, age
- Carrying capacity
- Whether you operate light trucks, rigid trucks, or prime movers
- Modifications like mobile cranes, tail lifts, or onboard computers
Accurate info ensures a valid quote and helps avoid policy disputes.
4. Driving & Claims History
Your driving history, past claims history, and even your financial situation play a role in determining premium levels and excess options.
Operators with strong safety records often access lower premiums or better coverage limits.
5. Optional Benefits and Add-On
Coverage options like Transit Insurance or Downtime Cover are standardised across the Australian insurance market. Understanding typical definitions and claims processes is easier when referring to the Insurance Council of Australia’s guidance.
6. Policy Inclusions, Costs, and Documentation
Every quote includes:
- A detailed premium (monthly or annually)
- Breakdown of inclusions and exclusions
- Every quote should point you to a Product Disclosure Statement and a Target Market Determination, as insurers must follow APRA’s prudential standards for general insurers regarding transparency and governance.
- A clear Target Market Determination
- Your rights to general and personal insurance advice
Understanding your policy wording and the full scope of your cover is essential before committing.
Understanding Truck Insurance Coverage
A truck insurance quote typically includes one or more of the following cover types:
Comprehensive Cover
Covers your truck for accidental damage, theft, fire, and property damage to others. It’s ideal if your truck is essential to your income or is of high value.
Third Party Property Damage & Public Liability
Essential if your truck damages someone else’s vehicle or property. Public liability insurance covers incidents involving injury or damage during loading, unloading, or delivery.
Add-Ons That Matter
Depending on your business, you can include:
- Downtime cover – income protection if your truck is off the road
- Transit insurance – protects your cargo during transport
- Windscreen, hire vehicle, and legal liability extras
Each policy can be customised to fit your business, from a single light truck to a fleet of prime movers.
Additional Insurance Types You May Need
Your truck insurance quote may cover the vehicle, but running a business often involves other risks. Depending on your operations, you might also need:
Travel Insurance for business-related trips
If you or your team regularly travel for work, whether interstate or regional, Travel Insurance can cover unexpected costs like trip cancellations, delays, or personal injury.
Boat Insurance for companies with marine operations
For transport companies that also operate near ports or on water, Boat Insurance protects vessels used for loading, delivery, or marine transport. It’s especially relevant for businesses involved in intermodal freight.
Life Insurance to protect business owners and employees
If you’re a business owner or employ drivers, Life Insurance adds a layer of security for families and teams. It helps protect income, manage business debts, or support succession planning, a valuable asset for small business operators.
Why Truck Insurance Protects Your Business Operations?
Things go wrong. Accidents happen. Trucks break down. A good truck insurance policy makes sure you’re not paying for it all out of pocket.
What the Right Policy Covers
- Covers repair costs and property damage
- Takes care of legal liability if you’re at fault
- Downtime cover helps you manage lost income
- Gives owner-drivers and transport operators real peace of mind
What Kind of Vehicles Are Covered?
- Light trucks, rigid trucks, and prime movers
- Work trucks, vans, and business cars under Commercial Vehicle Insurance
- Trucks carrying dangerous goods or fitted with mobile plant
It’s all about keeping your trucks on the road and your business moving.
Factors That Impact Truck Insurance Cost
No two quotes are the same. Your truck insurance cost depends on a few key details that insurers use to assess your risk.
What Insurers Look At?
- Your driving and claims history, and your financial situation.
- The truck’s carrying capacity and how it’s used for business activities
- The type of insurance you’re after, Comprehensive cover, Third Party Property Damage, or something in between
- Your financial situation, including the ability to absorb risk
Whether you’re an owner-driver or managing a fleet, these factors shape your premium.
Understanding the Fine Print
Before signing anything:
- Read the Product Disclosure Statement (PDS) for the full details
- Make sure the policy matches your business: check the Target Market Determination (TMD)
- Look into optional benefits that could improve your cover (and increase the cost)
Precise policy wording helps avoid headaches later, especially at claims time.
How to Find the Best Truck Insurance Providers?
With so many insurance companies out there, finding the right fit comes down to knowing what to look for and asking the right questions.
Steps to Get the Right Coverage
- Always choose insurers listed on APRA’s official register of authorised general insurers. This guarantees they are monitored for financial stability and regulatory compliance.
- Be ready with your personal information, vehicle details, and business needs
- Speak to an authorised representative who can give clear, tailored advice, not just a sales pitch
Insurance Options Beyond Truck Insurance
Depending on your setup, you might need:
- Fleet insurance for multiple trucks or vehicles
- Home Insurance or Landlord Insurance to protect business-related properties
- Home Buildings coverage for owner-operators running from home
Get cover that fits your life, not just your truck.
Tips for Navigating the Truck Insurance Claims Process
Accidents happen. When they do, understanding the claims process can save you time, stress, and money.
What to Expect During Claims?
- For events like accidental loss, total loss, or property damage, your insurer will walk you through the required steps.
- You may need to submit documents, evidence, or repair quotes, stay organised.
- Liability claims and compensation claims can take longer, especially if third parties are involved.
Many insurers now offer a streamlined process online, and some (like VIM Cover) even assign a dedicated claims team to support you.
Importance of General Advice and Customer Support
- Reliable Customer Support can make or break your experience, especially during stressful situations.
- Seek general advice before committing to a policy or during a claim if you’re unsure of your next step.
- Go with a provider that offers a wide range of insurance solutions, so you’re not left uncovered when it matters most.
It’s not just about getting your truck fixed. It’s about getting back on the road with confidence.
Types of Trucks Covered Under Commercial Vehicle Insurance
Whether you’re hauling freight across states or running tools between worksites, your policy should match your vehicle type.
Here’s what most commercial truck insurance policies can cover:
- Light trucks – often used by tradies, couriers, and small business owners
- Rigid trucks – ideal for local deliveries, moving services, or specialist freight
- Prime movers – used for long-haul freight, heavy haulage, and intermodal operations
- Mobile plant & mobile cranes – often used in construction and industrial settings
- Vehicles carrying dangerous goods require more tailored risk assessments
A quality Truck Insurance Policy should reflect how your vehicles are used for business purposes and the risks they face day-to-day.
Transit Insurance: Do You Need It?
If your trucks are carrying cargo, Transit Insurance can be a game-changer.
It covers accidental damage, theft, or loss of goods while in transit, which is especially crucial for freight companies and owner-drivers transporting high-value cargo or working with fragile or perishable items.
You can also extend this cover to include:
- Natural disasters (flood, fire, storm)
- Theft while parked overnight
- Third-party Fire and Theft for high-risk routes
Is Fleet Insurance Better for Growing Businesses?
Running more than a few vehicles? Fleet Insurance can often provide:
- Bulk discounts across all registered vehicles
- Easier renewals with one policy, not ten
- Streamlined claims and admin
Fleet cover is ideal for transport operators, logistics businesses, and companies with business vehicle insurance needs across multiple locations or drivers.
Even small businesses with just three or four trucks can often access entry-level fleet solutions.
Do You Need Life Insurance as a Truck Operator?
It might not be the first thing on your mind, but if you’re an owner-driver, business partner, or running a transport company, Life Insurance matters.
- It protects your family or business if something happens to you
- Can be bundled with other products (like Travel Insurance and Boat Insurance) if your operations involve different risk areas
Many insurance providers now offer business-focused life cover with flexible options based on your risk level and financial situation.
Secure the Right Truck Insurance Quote for Your Business
Getting the right truck insurance quote shouldn’t take hours or guesswork. At VIM Cover, we make the process fast, clear, and built for your business.
Whether you run one prime mover or manage a whole fleet, we’ll help you find the right balance of cost, coverage, and compliance. Our tailored options protect against accidental damage, property damage, lost income, and legal liability, with add-ons like Downtime Cover, Transit Insurance, and Fleet Insurance when needed.
We also know your time is valuable. That’s why we offer a 60-minute quote turnaround, no hassle, no hold-ups. Get started now.
FAQs
1. How fast can I get a quote from VIM Cover?
In certain circumstances, you’ll receive your quote in under 60 minutes, tailored to your vehicle type and business needs.
2. Is Downtime Cover worth it?
Yes, it helps you recover lost income while your truck is off the road due to repairs or damage.
3. What trucks can I insure?
We cover light trucks, rigid trucks, prime movers, and vehicles transporting dangerous goods or mobile plant.
4. What factors affect my insurance cost?
Your driving history, claims history, business use, and carrying capacity all influence your truck insurance cost.
5. What is a Target Market Determination?
It outlines the intended recipients of the policy. Always review the Target Market Determination and policy documents before making a purchase.
6. Can I insure multiple vehicles under one policy?
Yes, our Fleet Insurance solutions make it easy to manage cover for several trucks at once.
7. Will my policy cover legal fees?
Most policies cover legal liability, including third-party claims for property damage or personal injury.
8. Can I get help choosing a policy?
Absolutely. Our team offers general advice and support to help you make the right call. You can contact us by either filling out the form or giving us a call.
