Is It Mandatory to Have Third Party Property Insurance for Commercial Trucks and Trucking Companies in Victoria?

LSyed Arif on 30/08/2023 - 22:25
Last edited 17/09/2023 - 12:09

Is it mandatory for truck companies to have insurance to third trucks in Victoria?
Recently my car was hit by a company truck driver he accepted his fault and gave me his details but later they are not contacting me and they are saying that they are self insured and they can pay me upto 1500 for the damage of back bumper. I do not have insurance and I cannot claim insurance from the at fault driver as he is claiming he doesn't have insurance. What can I do now accept 1500 ?

Update: the car is getting repaired the at fault driver claimed the insurance.

Automotive Car Insurance Insurance

Comments

  • lost in transit on 30/08/2023 - 22:35
    +2

    I would and count your losses, and get insured 😁

  • haroldmac on 30/08/2023 - 22:35
    +1

    What's the value of the damage?

    • Syed Arif on 30/08/2023 - 22:37
      -1

      I did get a quote from repairer but back bumper is damaged

      • haroldmac on 30/08/2023 - 22:38

        So….. What's the damage going to cost to repair?

  • Mikefr on 30/08/2023 - 22:44
    -2

    Isn’t 3rd part insurance mandatory, even if “Self insured”, doesn’t VicRoads need record to register a vehicle?

    • Syed Arif on 30/08/2023 - 22:47
      +1

      The driver of the truck said his truck is fully insured and someone from the company will look after this incident. Third party mandatory insurance doesnt cover property damages.

    • kerfuffle on 31/08/2023 - 01:53
      +6

      Time to read up on the difference between different types of insurance …

    • newjerseydamo on 31/08/2023 - 08:11
      +1

      Wrong type of insurance.
      Google "compulsory third party" and "third party property damage".

  • Godric on 30/08/2023 - 22:59

    I do not have insurance

    Haven't heard that one before

  • El cheepo on 30/08/2023 - 23:15

    Every transport company i have ever worked for has explicitly instructed that in an accident, never ever admit fault.

    The bloke might have done the right thing, but the company likely wont if you aren’t insured.

    Id take what you can get unless your prepared to take it to court.

  • trapper on 30/08/2023 - 23:30
    +3

    Get a quote for the repairs.

    Ask for the amount that was quoted.

    If they don't want to pay you then you can take them to small claims and they will be ordered to pay.

    If it's worth the time and effort will depend on how much more than $1500 the repairs will be. They also wont want to go to court though, so maybe they will just pay up.

  • JimmyF on 30/08/2023 - 23:36
    +2

    What can I do now accept 1500 ?

    Take the $1500…. get insurance.

  • Eeples on 31/08/2023 - 02:43
    +2

    Do you have he accepted fault in writing?

    What does it matter if the truck has 3rd party property or comprehensive? You can’t force him to make a claim.

    Get a quote, if over $1500, send a letter of demand.

  • kerfuffle on 31/08/2023 - 05:45
    +10

    The irony of the OP asking whether third party property insurance is mandatory when they themselves don't have insurance.

    • pegaxs on 31/08/2023 - 12:17
      +2

      Yep, that part wasnt lost on me… I got a headache from the facepalm

  • geekcohen on 31/08/2023 - 05:59

    I don't believe it is a requirement in Victoria.

  • Euphemistic on 31/08/2023 - 06:44

    Many bigger companies will ‘self insure’ up to a certain amount. It’s like upping the excess on their policy to save money. I worked for a large company that had either a $20k or $50k self insurance. So any damages caused less than $20k (or $50k) they had to pay out of their working accounts rather than claiming on insurance.

    They were at fault, means they need to pay for repairs. They don’t get to choose what the limit is. From a recent experience getting a quote $1500 seems reasonable for a new bumper with paint and fitment. Maybe the driver said “that won’t cost more than $1500 to repair so we won’t use insurance” rather than what you heard as “we can’t pay more than $1500.

    So, go get an itemised quote from a reputable repair shop and submit that to them for payment. If it is more you might have a hard time getting the money, but you can use lawyers, go to court etc if you are really keen.

    Once you’ve got your quote and they pay you the correct amount, go get it done for cash cheaper.

  • dandosr on 31/08/2023 - 07:30
    +10

    I just wrapped up a similar situation myself. The at fault party was a fleet owner with self insurance. I only had 3rd party fire and theft cover at the time. At the scene I got the name, mobile number of the driver and the fleet details of the company. After contacting the company they offered for them to fix the damage at a depot and refused to go through a car panel shop or repairer. The company then stopped answering my calls and messages.

    a. Went to police, owner of the company said driver no longer works at company and they have no record of an accident.
    b. Went to insurer, they require drivers full name, address and license number to waive excess and offer 3rd party cover not at fault for up to $3000.
    c. Went back to police. The office gained the name of the driver and went to their house to confirm the incident occurred.
    d. Police refused to provide the address of the person citing privacy rendering insurance cover useless (damage was greater than 3k anyway)
    e. Sent a letter of demand - ignored
    f. Served the company - ignored
    g. Applied and was granted levy of property
    h. Sent the sheriffs out to starting seizing their trucks
    i. Got paid same day including all costs.

    • TurboTortoise on 31/08/2023 - 07:37
      +2

      Well done following it all the way through!!

    • Naigrabzo on 31/08/2023 - 10:35

      Did they pay for your time. Need to charge then $600 per hour for your admin also. That sounds like a nightmare.

      Question is how did you access the sheriffs? Never heard they existed…..

    • billy72 on 31/08/2023 - 11:47

      Well done! You really have time and patience :)

    • brendanm on 31/08/2023 - 16:42

      Very nice result 👍

  • Naigrabzo on 31/08/2023 - 10:36
    +1

    Dude just get a quote. I know that car repairers charge $1500 to get out of bed when they know it's an insurance job. If it's a bumper I reckon it will be $2500 all up. They will replace because in Australia they never repair anything.

    • Euphemistic on 31/08/2023 - 11:32

      My recent front bumper replacement was quoted at $14-1600 from a couple of places. About $750 for the bumper part, rest for paint and labour.

      • Naigrabzo on 31/08/2023 - 11:33

        Hotdamn! That's cheap man. I was charged $1300 for bumper 17 years ago.

        Jump on it and pocket $100.

        • Euphemistic on 31/08/2023 - 11:34

          It will depend on what the bumper costs and what car it is. Paint and fit should cost too much more.

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