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Is it worth taking out truck insurance through the cooperative?
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See how taking out truck insurance through the cooperative can be dangerous and learn about some important precautions when protecting your vehicle.

Security is one of the priorities nowadays, and if we are talking about protecting durable goods such as vehicles, it ends up becoming even more important.


Especially when that vehicle is a work tool like a truck.

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However, taking out truck insurance through the cooperative can be very dangerous.

Understand why in this article and learn about the precautions that must be taken to avoid falling into a trap.

Is it worth taking out truck insurance through the cooperative?

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Is it worth taking out truck insurance through the cooperative?

The first important thing to be said is that the service offered by cooperatives is not insurance, but vehicle protection.

Vehicle protection is a new market strategy, where a community fund is managed by a non-profit entity.

In other words, the service is basically offered by a group of people, who, when they come together, all become responsible for the services provided to the group's vehicles.

In this type of service there is no guarantee that your problem will be resolved if an accident occurs, taking out truck insurance through the cooperative will also not guarantee that you will be compensated if your vehicle suffers a total loss, or is stolen or stolen.


Understand how cooperative truck insurance works

As mentioned, cooperatives function as a common financial fund, that is, available to a group.

When you take out truck insurance through the cooperative, you, like other members, start paying a monthly amount.

If an accident occurs, and there is sufficient funds in the fund, your problem will be resolved.

However, if the fund has already been used to cover the expenses of another member, you will have to cover the costs of your claim alone.


The fund is common and is available to the member who needs it first.

When used, it needs to be replaced again with the payment of monthly installments to guarantee the payment of another future claim.

Therefore, truck insurance through the cooperative is not a very reliable service, as it is offered by a non-profit company that only works with money provided by members.

Unlike standard insurance, which has its own budget to cover repairs and claims considered a total loss.


Truck insurance by the cooperative rarely has funds to cover total losses.

Therefore, if you have been looking for a truck insurance cooperative in MG or any other state, know that this is not the most recommended type of service.

After all, the biggest danger of relying on the vehicle protection offered by cooperatives is the chance of being left stranded when needed most.

How does the truck insurance association work?

Truck insurance associations work like cooperatives, so they are also not the best means of getting adequate and truly safe protection.


With guarantees that your rights will be met.

Insurance companies are more recommended

Unlike cooperatives, insurance companies are companies that have large financial funds, and therefore, do not have problems paying for repairs or even compensation for total loss.

Furthermore, they offer a service regulated by SUSEP – Private Insurance Superintendency, the body responsible for standardizing and inspecting the entire insurance sector in Brazil.

This will ensure that your rights stipulated in the contract are fulfilled.


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Another reason why insurance companies are more recommended is that by dealing with them you can also count on more benefits related to your insurance coverage, and professionals who are more prepared and ready to solve your problems.

How does truck insurance work?

Just like traditional auto insurance works, truck insurance works too.

To hire it, you need to look for a broker or insurance company and request a quote.

Based on the information provided by you, the policy value will be calculated.


And you can choose the type of coverage that best suits you and the deductible modality that best suits your reality.

Among the information requested to obtain a truck insurance quote, the most common are:

  • Vehicle weight category: light or heavy;
  • Type of use: business or own;
  • Type of cargo: private or linked to the carrier;
  • Body model;
  • Whether you usually travel by train or not;
  • If you own and transport any type of equipment such as: “roll on roll off” and “munck”;
  • Region where the truck travels most;
  • Driver profile: age, gender, marital status, etc.

Differences and similarities between insurance companies and cooperatives

The main difference between the services offered by these two companies is that the insurance company has its own funds, capable of providing the necessary compensation, regardless of the type of accident or how many insured people have suffered accidents at the same time.

Therefore, they end up having policies with slightly higher values ​​than cooperatives.

Cooperatives work with a common fund, generated by the payment of monthly fees to members.


In other words, we are talking about a much smaller fund that is not always capable of meeting the needs of its members.

It is worth mentioning that the monthly prices of these companies tend to be much lower.

Now when we talk about similarities, it is possible to say that they are many. Especially when it comes to types of coverage.

In general, both insurance companies and cooperatives offer coverage for situations such as:

  • Theft and robbery;
  • Floods and floods;
  • Breakdowns, collisions and rollovers;
  • Fire and falling trees;
  • And more.

It is worth remembering that the types of coverage vary from one company to another, both in the case of insurers and cooperatives.

Be careful with cooperatives

Cooperatives do not have a service provision contract, and they do not have any body that regulates them.

This means that your rights are not fully guaranteed.

Furthermore, cooperative truck insurance generally does not provide coverage necessary for this type of service, such as equipment protection and cargo insurance.

Important details when it comes to a vehicle for transporting objects.


After all, we are living in a time of national financial crisis and the number of cargo thefts has increased alarmingly.

The southeast region accounts for over 81% of cargo theft rates in Brazil, of which around 75% occurred in the cities of São Paulo and Rio de Janeiro.

Therefore, it is extremely important that you carefully research the company that offers you this type of service.

If it really is an association or cooperative, it is best to avoid it.


Giving preference to insurance companies registered with SUSEP is the right thing to do.

Is it worth taking out truck insurance through the cooperative?

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Is it worth taking out truck insurance through the cooperative?


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