Have you ever heard anyone say “If I had only known that one thing…”. For example, you have an insurance claim, and instead of getting a replacement vehicle because you didn’t think of including it in your insurance application, you don’t have rental coverage. “If I had only known, I could have had this coverage before I had the claim”. There’s “that one thing”. What about lending your trailer to another carrier without getting a written contract? If that carrier gets hit and it’s not his fault, you could be on the hook for the repairs if your OPCF27B Liability for Damage to Non-Owned Automobile(s) in Your Care, Custody or Control doesn’t have the word ‘included’ in a certain section and you don’t have a written rental/lend agreement. There’s “that one thing”. I can’t tell you how many times I hear that phrase, and how bad I feel for whoever’s saying it. Through their pain, it has made me a better broker. Through their loss, I have learned to cover all of the bases, all of the time, even if they don’t want their bases covered. I’d much rather they have known what was available to them prior to an event, and be fully aware of how much risk they are assuming.
Another example is in abundance in my industry and is the most prevalent I have seen when dealing with owner operators being eligible to drive for a new company. They have driven for companies that have had them covered under the company fleet insurance for say three years. For one reason or another, the fleet owner has not identified them to their insurer. I have heard they were told not to in case it had an adverse effect on the insurance policy, so they forgot (for three years?) or other ridiculous reasons. This has now made it effectively impossible for the owner operator to obtain verifiable previous driving experience. This can mean whether he gets another job or not. More seriously, it can mean unable to obtain an insurance policy on his own! This “one thing” really irks me. If you are going to be covered under anyone else’s insurance policy, get a written acknowledgement that you have been added as an insured driver to that policy. It will save you many hoops that you will be made to jump through later. We are always working on making our industry more accessible to our end users (drivers, companies, O/O’s) and hopefully, soon, we can develop a trusted vehicle for this type of information.
In the mean time, try and think ahead…of “that one thing”!
About the Author
Lisa Arseneau is transportation insurance broker with over 25 years of experience in the trucking industry. She is the Vice President of T.R.I.P Division of the Pearson Dunn Insurance. She is a member of the Ontario Trucking Association, The Toronto and Hamilton Transportation Clubs and is and is passionate advocate for her clients.
Lisa can be reached by email at firstname.lastname@example.org