TRUCK INSURANCE

It is required, by law, to hold a minimum level of insurance for the vehicles which operate on public roadways  Whether it is car, SUV, van, truck,  and that too irrespective of the Whether you or your company has a single vehicle, a fleet of more than a hundred vehicles, service rigs or any other vehicles. Each province has differing legal requirements and depending on where you operate from, it is important that you secure the appropriate level.

The top in the list of requirement is Automobile Liability Insurance for all vehicle owners. This is mandatory. Liability Insurance covers damage you may cause to another person’s property and bodily injury.

In some provinces, Upset or collision Insurance is included with your provincial insurance plan, but in others, you will be required to purchase it separately. Collision or Upset Insurance protects the insured vehicle if it is struck or upset by another vehicle, rock or roadside object.

Comprehensive Insurance provides you with protection for damage to the insured vehicle from certain weather related incidents, fire, theft and vandalism. This type of Insurance is not automatically included, but we at Goldmine also offer this comprehensive insurance, trucking is our area of expertise. We have been a leader in the transportation insurance industry.

Some areas to discuss with your broker when considering which coverage is most suitable for you:

We have provided the following insurance basics to help you make an informed decision in choosing an insurance company. For further information please contact our Commercial Division and speak with one of our transportation specialists.

How Insurance Premiums Are Determined When determining your trucking company's premium, the insurance company will consider factors which increase or decrease the chances that a loss will occur, and its potential size. Insurance is a unique product where the actual cost of the product is known only after the product has been sold. The following items are some key factors affecting your chance of having a loss and, therefore, the premium you will pay.

• Driver Age: As a general rule, younger drivers are involved in more accidents than older drivers and, as such, they pay more for insurance coverage. The probability that a driver will have a loss decreases each year. However, after reaching a certain age, the likelihood of accidents again increases and as such, rates generally begin to rise.
• Years Driving Experience :- The more experience drivers have driving similar equipment, the less likely they are to be involved in losses, Changes to different equipment will increase the chances that the driver will be involved in a loss
• Years Employed: The more familiar a driver is with the particular routes, equipment, and commodities hauled, the less likely the driver is to be involved in a loss. This clarifies the more number of year an employee is employed the less chances of risk , hence less premium
• Driving Record: Your driving record plays a crucial role in determining premiums. If you have more violations on your record , you may pay more for your insurance premium
• Accidents: Accidents have a direct result on your rate. If you have been involved in an accident you may pay more for your insurance.
• Where You Drive: It is one of the major area in deciding the premium, it describe the route, haul and other geographic conditions. Example you would be more likely to experience higher rates if you were regularly traveling into or through larger metropolitan areas than if you traveled only within smaller cities.
• What You Haul: the time sensitivity of the load, the potential for theft and the impact of changes in temperature, all this range your premium amount.
• Equipment Operated: The value, age and condition of equipment is taken into consideration when determining your rate of premium.
• Deductibles: increase your deductible to reduce your insurance premiums, if you can afford a higher deductible, In case of any loss to vehicle. Higher deductible will lead to low premium paid.

Other things that need to be taken care are:-Area in which you operate (Canada, USA or beyond), Cargo (owned by your company or someone else), Volatile Substances, Equipment attached to vehicles, Fleet Insurance , Long-haul transportation activities , Number and type of vehicles , Type of company and purpose of travel , fleets, prorate, bonding, warehouseman legal liability. For further information please contact our Commercial Division and speak with one of our transportation specialists or E-mail at info@goldmineinsurance.ca

What to Look for in an Insurance Company Everyone claims to be the best, but if you want the best value for your insurance dollar, be confident in knowing what to look for when choosing an insurance company to meet your unique trucking needs. We have expertise in following  spheres : Excellent Claims Service, Provide full Coverages, Risk Control Resources , Competitive Pricing , Personalized Agent Relationships, High Experience of  Company to  Insured Truckers , Financial Stability of the Company

For further information please contact our Commercial Division and speak with one of our transportation specialists.

We assure you expert advice, from our knowledgeable staff, competitive pricing, and a follow-through claims process that is second to none with a dedicated transportation division We are proud to be members of the British Columbia Trucking Association.
If you have any questions concerning a competitive quote on your cargo insurance, or would like to set up a fleet or prorate account, you've come to the right place.