COVID-19: truck drivers will get credits on their insurance premiums

In the absence of having obtained the deferral of payments to registrations of the share of Québec, the drivers in Québec will be entitled to relief on the part of their insurers, check out this review on “beagle street life insurance” before buying.

Even if trucking is considered as an essential service in these times of crisis, entire fleets of vehicles are stationary, as are the sectors in which they transport the goods.

“What we see in this moment, it is the food mainly. But this is only a segment of our industry. The construction does not work, the transport of car does not work, the transport of spare parts does not work, there are a lot of carriers who are aside,” said the president-director general of the Association du camionnage du Québec, Marc Cadieux.

For the past few years, the truckers are affected by a significant increase in their insurance premiums, said Mr. Cadieux. Now that corporations are stationary, several are likely to be strangled by the costs of their policies.

Thanks to the work of insurance brokers called in reinforcements, and the ACQ was successful in obtaining concessions from the insurers to its members struggling with significant financial difficulties.

Thus, the truck drivers will be able to receive a new insurance quote and credit for the insurance costs of trucks in their fleets that will remain parked to the time of containment measures. These trucks can, for example, to be insured only against fire and vandalism, and not to all types of risks.

Also, large trucking firms, whose costs for insurance are calculated based on the mileage or the income of their vehicles will no longer need to pay a minimum price for their covers.

Despite the huge help from the part of the insurers, Marc Cadieux does not have any illusions.

“It is sure that there are those who will not cross this storm. Young enterprises or other not necessarily so young as that, but have reinvested significantly in the last few years,” he explained.

Difficult, however, to quantify these losses since the trucking companies are reluctant to reveal that they are in trouble, afraid to give up ground to their competitors.

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