5 reasons you need truck insurance

5 reasons you need truck insurance

Updated on July 21 2024

METRO MANILA, – Being a truck driver is a risky profession.

You do not only need to look out for yourself, but also pedestrians and other vehicles. Trucks have a lot of blind spots that other drivers cannot see.  

According to the 2019 Metro Manila Development Authority Accident Reporting and Analysis System, trucks are involved in 15.33 percent of total road incidents, with nine deaths recorded.

Truck crashes are one of the most fatal, often leading to serious injuries or death. If you get involved in a crash, you may not have the financial resources to cover any damages or injuries out of your pocket. For this reason, Assurance.PH offers the financial protection you need for unforeseen circumstances.

Here are some other reasons that you need Assurance.PH Truck Protect:

You may experience a serious partial loss

In crashes that result in serious damage to your truck, you may not have the ready cash you need for repairs.

The collision could be the fault of your authorized driver or a third party. An Assurance.PH policy will cover this under “Own Damage.”

You may experience a total loss  

In case of a crash resulting in serious damage to your truck, with repair costs almost the same as the cost of a similar vehicle, you or your company may not have enough cash to replace your truck.  

An Assurance.PH  truck insurance policy will provide the funds under “Own Damage” rider.

You may be a victim of carnapping, carjacking or theft  

In case your truck or some parts is stolen, you may not have enough money to cover replacements. Assurance.PH will cover this under “Theft.”

You may injure other people  

In the event that the truck driver causes a crash resulting in injuries to pedestrians, other drivers and passengers of other vehicles, you may not have the money to pay for the financial, professional and legal resources to cover for the cost of injury.

Assurance.PH will pay for the cost of third-party liability and excess bodily injuries.

You may damage other vehicles and properties

Should the truck driver cause a crash that results in damage to other vehicles and stationary properties, you may not have the financial, professional and legal resources to shoulder the expenses.

At Assurance.PH, we will make sure that you are covered under the "Voluntary Third Party Property Damage (VTPPD)."

What you get from Assurance.PH truck insurance

Here are the benefits of buying a truck insurance policy from Assurance.PH:

Compulsory Third Party Liability (CTPL)

CTPL is required by law upon vehicle registration.

It protects you from liabilities related to death and bodily injuries caused to a third party. Assurance.PH will settle a valid claim of up to P100,000.

Own Damage/Theft

This policy provides protection from accidental collision, overturning, falling, fire and malicious acts of a third party on your truck. We will settle a valid claim up to the Sum Insured.

Excess Bodily Injury

It acts to supplement your CTPL insurance by covering legal liabilities resulting from bodily injuries and/or death caused to a third party in case of an incident arising from the use of your truck.

Assurance.PH will settle for a valid claim of up to P200,000 on top of the P100,000 covered by your CTPL insurance.

Voluntary Third Party Property Damage

This provides protection against liability for damage caused by your vehicle to a property owned by a third party. Assurance.PH will settle a valid claim of up to P200,000.

Personal Accident Rider

This type of policy provides personal accident medical reimbursement to the truck driver and their passengers while boarding, alighting and riding your vehicle.

It also provides protection for your family against vehicle-related incidents. Assurance.PH will settle a valid claim of up to P25,000 per person for up to three persons.

Acts of Nature  

Acts of Nature insurance protects you for loss or damage to your vehicle, its accessories and spare parts caused by an earthquake, typhoon, flood, volcanic eruption, lightning, fire and/or other convulsions of nature.

Assurance.PH will settle for a valid claim up to Sum Insured.

Driving a truck requires a lot of skills. It also involves a lot of risks. When accidents happen, you need to protect yourself from these unforeseen accidents.

Get truck insurance from Assurance.PH and give yourself some peace of mind while driving your truck. Get in touch with an Assurance.PH advisor for further details at contact@assurance.ph / 09157052031 or 09052050402.

You may PM our team on our official Facebook page.

Meanwhile, Automart.PH offers a wide selection of used cars at great prices, ranging from compact cars to pick-up trucks, that suit your needs.

And if you’re looking for the finest used cars, check out Automart.PH Certified Used Vehicles. These are restored until they feel like new again. They also come with a three-day money-back guarantee and, for Gold Certified units, a one-year warranty.

Automart.PH Senior Content Creator VJ Bacungan contributed to this story.