Income Protection for Truck Drivers
Truck drivers - especially self-employed and subcontractors - know that if they can't drive they can't earn.
As much as you don't like it, the fact is that it doesn't take much to keep you out of the truck. A simple broken arm or ankle could keep you out of your rig for a few weeks. A more serious injury could keep you out for few weeks, or even forever.
If you couldn't work for a few months or a few years, how would you and your family survive? If you're an owner driver, could you keep up the repayments on your rig?
Thankfully there is a solution - income protection insurance for truck drivers.
Income protection will allow you to protect up to 75% of your income if you are unable to drive your truck due to injury or illness. You can protect yourself for a period of two years or all the way through to age 65 in some cases.
You can adjust your premium by changing the waiting period. The waiting period works in a similar way to the excess on your truck insurance. The higher the waiting period (i.e. higher excess) the lower the premium, and the lower the waiting period (i.e. lower excess) the higher the premium.
Waiting periods for truck driver's income protection generally range from 14 days through to two years, however the average waiting period for drivers is 30 days.
Income protection is straightforward for many drivers, but can get tricky for some professional drivers, especially long-haul and interstate drivers. Because of this, it is important for all truck drivers to use a financial planner or insurance broker who understands the trucking industry and can match you to the most suitable insurance cover.
Here at Drivers Insurance we have access to a network of advisers and brokers throughout Australia who can assist with your truck driver income protection needs. Don't waste your time with your local adviser, trust the truck driver insurance specialists to give you the protection you need.
For more information on income protection for truck drivers please contact us or follow the links to get your free online quote.
Whether you're a long haul semi-trailer driver, or drive a small truck around the city, we can help you find the right cover for you and your family.
Click here for an obligation free online quote.
