Downtime Coverage
If your truck isn’t on the road, you’re not making money. What if you could get paid while your truck was being repaired from a covered loss? If you have downtime coverage, you can.
Downtime coverage, available from Heaton Bennett Insurance, provides you a payout each week that your truck is off the road and in repair. To qualify you must meet three conditions:
- The insurance carrier gives the okay to repair the truck.
- The insured gives the repair facility the okay to repair.
- The vehicle is out of service for repair because of a covered loss and is in the custody of the repair facility.
Contact Heaton Bennett Insurance to discuss this great coverage and to learn about certain restrictions and details. It is available as a part of other coverage, so be sure to inquire about your options.
Frequently Asked Questions
How can downtime coverage help a trucking business?
Downtime coverage may provide a specified benefit when a covered vehicle cannot operate because of a qualifying loss. Benefit amounts, waiting periods, and maximum payment periods vary by policy.
Does downtime coverage apply after every mechanical problem?
Not necessarily. Coverage may depend on whether the cause of downtime is an eligible covered loss. Routine maintenance, wear and tear, and certain mechanical failures may be excluded.
When do downtime benefits begin?
Policies may include a waiting period before benefits become available. Texas trucking businesses should review when the waiting period begins and how long payments may continue.
Is downtime coverage the same as rental reimbursement?
No. Downtime coverage may provide a stated benefit for lost operating time, while rental reimbursement may help with eligible replacement-vehicle expenses. Policy definitions and available options vary.