The surge in policy uptake is attributed to several factors impacting the transport industry. Notably, the 2024 National Truck Accident Research Centre (NTARC) Report highlighted that over 85% of serious truck crashes involve multiple vehicles, emphasizing the critical need for robust insurance coverage to protect against vehicle damage, third-party liability, and business interruptions.
Stirling Sanderson, Managing Director at Insuregroup, emphasized the importance of insurance beyond mere legal compliance. He stated that truck insurance provides essential protection for drivers, business operators, and the entire supply chain. Insuregroup's role is to simplify the process and help operators access insurance options suited to their needs, enabling them to focus on keeping their businesses moving.
Additionally, the increasing number of freight contracts and government projects requiring specific insurance levels before commencement has contributed to this growth. As part of the Steadfast Group, Insuregroup offers clients access to a wide range of insurers and policy options, supporting businesses from single-vehicle operators to large national fleets.
Sanderson noted that the 25% increase in policy count signals ongoing changes and renewed activity within the transport industry. Operators are investing in more considered insurance approaches to safeguard their livelihoods, and Insuregroup is committed to supporting that shift.
For Australian freight operators, this trend highlights the importance of regularly reviewing insurance coverage to ensure it aligns with evolving industry risks and regulatory requirements. Engaging with experienced brokers can provide tailored solutions that offer comprehensive protection and peace of mind in a dynamic operating environment.
