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Truck Insurance

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Own Damage, Fire,
Theft and Third
Party Liability
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transported by you
on behalf of
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Covers you in the
event that you are
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Third Party damages
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Insurance

Loss of Use Insurance (Downtime Insurance)

Loss of Use or Downtime insurance will indemnify a transport company in the case of a business interruption following a defined event. It indemnifies for loss of earnings resulting from the inability to operate because of damage to a truck or trailer from an insured peril, e.g., collision or fire. The company will pay the daily rate as shown in the schedule for the period the insured vehicle is out of use following a defined event up to the maximum amount shown in the schedule.

Downtime/Business Interruption is available on new policies or can be endorsed to or at renewal for existing policies. The daily rate can vary between R 600 to R 1800 per day depending on the level of cover chosen by the client.

Loss of Use Insurance can be used to pay for the following expenses:

  • Finance repayments on the truck or trailer
  • Business expenses like wages etc.
  • Insurance premiums
  • Workman’s Compensation payments
  • Family living expenses


Specific conditions:

  • There must be a claim under the normal truck insurance policy.
  • Compensation under this section will start on the date of written notification to the company of an incident and will continue until the date that the insured is notified that the vehicle is ready to be collected from the repairer. If the vehicle is written off, compensation will continue until the date that the initial agreement of loss is tendered to the insured or maximum period as stated in the schedule, whichever is the lesser amount.
  • The company will pay compensation for a maximum of 16 (sixteen) weeks in total unless the vehicle is declared to be a total loss, provided that the company’s liability in respect of this section for a single event does not exceed R160,000 or the amount stated in the schedule.
  • Should the insured vehicle be declared a total loss, cover will cease on the day that the initial agreement of loss is tendered by the company.
  • If the vehicle is stolen or hijacked, compensation will commence from the time the company is first notified of the theft or hijack of the insured vehicle. Compensation will cease on the day that the company tenders the initial agreement of loss to the insured or maximum period as stated in the schedule, whichever is the lesser, or when the vehicle is recovered.
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