The trucking industry in Canada consists of businesses that own and operate motor trucks to transport goods. This industry includes both organizations that transport the goods that they produce themselves and for-hire carriers who transport goods produced by a separate company. The top 5 commodities that are carried by for-hire carriers include gravel & sand, pulpwood chips, logs, lumber, and fuel oil.
Every year, this massive industry generates more than 30 billion Canadian dollars in revenue. Needless to say, it’s a highly competitive industry. With so much that can happen on the road though, one of the determinants for success in the trucking industry is how prepared the business is for unforeseen events.
At KASE Insurance, we can help you get the coverage you need so that your business can always be prepared for potential risks and succeed in the trucking industry. This way, both business owners and truck drivers can have peace of mind and will be able to focus on the tasks at hand without worry.
The trucking industry plays a major role in enriching the economy of any country. In Canada, this industry gathers a revenue of above 30 billion per year. This is because a wide array of businesses are dependent on trucking services to deliver goods domestically or internationally across borders. During the course of day-to-day operations though, a lot can happen – whether the truck is moving on the road or even when it’s stationary. There are potential risks of injuries, damage to property, damage to the truck, damage to the cargo, and so on.
Heavy trucking insurance, also known as haulage truck Insurance or transport truck insurance, is a comprehensive insurance policy that specializes in providing trucking businesses with the coverage they need.
Like most of our policies, this can be customized to the unique needs of your business because we understand that though you are within a specific industry, there could be additional risks associated with your business that you need coverage for.
In the previous section, we’ve talked about how vital the trucking industry is. Goods need to have this mode of moving around for other industries to flourish. For this reason, the average distance of a domestic truck haul in Canada is around 482 km. And the industry is so massive that it gives jobs to more than 300,000 Canadians.
This is a highly competitive industry where there is always quite a lot at stake with each and every truck haul. For all businesses trying to thrive in this industry, the last thing you would need are liabilities and income loss that result from unforeseen events such as:
Liabilities can be costly. And the possible downtime that can result from these scenarios can further aggravate the situation. There is a common misconception that only larger trucking businesses should be getting this type of insurance but this couldn’t be farther from the truth. In fact, small businesses would suffer just as much (if not more) with setbacks like these mentioned above. In short, heavy trucking insurance is important for all sorts and sizes of trucking businesses and it can mean the difference between success and bankruptcy.
In this section, we will talk about the common coverages in heavy trucking insurance policies. But as we’ve mentioned in a previous section this insurance policy can be further customized to the unique needs of your business.
This provides coverage for liabilities in the event that an employed driver causes an accident. If anyone got injured or if a property was damaged as a result, this coverage will cover the costs of the medical bills and/or repair/replacement of damaged property.
If an incident such as a vehicular accident, theft, vandalism, and so on causes your truck/s to sustain some form of damage, this coverage will cover the associated costs.
If you or one of your employees is in an accident wherein another driver is at fault and this said driver does NOT have adequate coverage to pay for your injuries and/or property damage, this coverage will cover the costs.
This provides coverage in cases of damaged cargo or stolen items.
With the wide array of trucking businesses out there, we understand that the insurance policy is not one size fits all. This is why we invite you to speak to us so we can put together the best possible insurance policy tailor-fit for your business. But first of all, how do you know that heavy trucking insurance is for you?
Well, to start off, as long as you’re in the business of owning and operating a commercial heavy truck, you will definitely benefit from this comprehensive insurance policy. It has nothing to do with the size of your business. Even entrepreneurs who are just starting with one commercial heavy truck will still benefit from this type of insurance.
Heavy trucks come in various forms. They typically weigh around 26,001 to 33,000 pounds. A few examples of heavy trucks include:
This insurance policy can suit various trucking business types. There are mainly three:
Your business would fall under this category if you transport goods for one or more consignors. You’d have contractual agreements with them that specify the rates of compensation and other terms.
Your business would fall under this category if your truck/s are used to transport your own goods for processing or to the market.
Your business would fall under this category if you serve the general shipping public which could be other companies or individuals for a published rate. Typically, these types of businesses provide shippers with full-service, door-to-door delivery.
Whichever category your business falls under, you will still benefit from the coverage that heavy trucking insurance policies provide.
As one of the top insurance providers of heavy trucking insurance in Toronto and the rest of Canada, KASE Insurance is your partner in ensuring the success of your business. Protect your trucking business and your employees from liabilities and income loss that can result from unforeseen events. Let’s put together the best possible insurance policy for you based on the needs and risks associated with your business.
We are proud to have a vast experience in serving clients from various industries. Along the way, we’ve gathered awards and a wealth of industry recognition. With KASE Insurance, you can be sure that you are in good hands.
Contact us today and let’s get started! There’s always someone to answer any questions you might have.
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