Motor Vehicle Insurance

Cover at a glance

Provides protection for physical damage to your vehicle as well as your liability to third parties
Various cover options are available
Fleet policies can be tailored to your specific business needs

Policy Overview

Whether you manage a fleet of vehicles or just one, Motor Vehicle Insurance is a crucial safeguard due to the frequency of road incidents. Having the right coverage ensures that your business can continue operating smoothly, regardless of the size of your vehicle fleet.

Motor Vehicle policies offer coverage for physical damage to your vehicle as well as your legal liability for damage caused to third-party property. These policies can be designed to accommodate various needs, from insuring a single vehicle to providing a fleet policy for hundreds of vehicles, ensuring that your business remains protected on the road.

Motor Vehicle Insurance policies can be customised to meet your business’s specific needs. Options include adjusting excess levels, expanding coverage choices, and tailoring solutions to reduce your overall premium. For fleet policies, additional options such as aggregate excess and burning cost policies can help manage costs, providing a more economical approach to insuring multiple vehicles.

The information provided on this page that may have been implied is General Advice only and does not take into consideration your specific needs, risk appetite or financial requirements. Please contact our office to discuss and review your needs and the appropriate financial product best suited to meet your requirements . Before purchasing any financial product, you should always read the Product Disclosure Statement to ensure the product is suitable for your needs.

Frequently Asked Questions

What does Motor Vehicle Insurance typically cover?

Motor Vehicle Insurance provides cover for two key areas: (1) physical damage to your vehicles, whether from accidents, theft, or other incidents, and (2) your legal liability for damage caused to third-party property, such as other vehicles, buildings, or infrastructure. This ensures both your vehicles and the potential legal risks to third parties are covered.

Can I insure multiple vehicles under one policy?

Yes, businesses with more than one vehicle can opt for a Commercial Motor or Fleet policy. Fleet policies are designed to provide coverage for multiple vehicles under a single agreement, which can be more efficient and cost-effective for businesses managing large numbers of vehicles. You can tailor the policy based on your fleet size and operational requirements.

What are the benefits of aggregate excess or burning cost policies for fleets?

Aggregate excess and burning cost policies are designed to help businesses manage their insurance expenses. An aggregate excess sets a maximum limit on your out-of-pocket costs for claims over a specified period, while a burning cost policy adjusts your premium based on the claims you make. Both options can help reduce the overall cost of insuring a large fleet by aligning premiums more closely with your actual risk profile and claims history.

Can I customise the excess and coverage levels for my Motor Vehicle Insurance?

Yes, Motor Vehicle Insurance is highly customisable. You can choose the level of excess that suits your risk tolerance, whether you want a lower premium with a higher excess or prefer more comprehensive cover with a lower excess. Additionally, you can tailor your coverage to include options such as windscreen repair, hire vehicle cover, and more, depending on your business’s needs.

What factors influence the cost of Motor Vehicle Insurance?

Several factors affect the cost of Motor Vehicle Insurance, including the number and type of vehicles, the driving history of those operating the vehicles, the areas where the vehicles are driven, and the claims history of your business. Fleet policies can also vary in cost depending on the type of vehicles insured and any additional customisations you choose, such as aggregate excess or burning cost options.

Does Motor Vehicle Insurance cover employee-owned vehicles used for business purposes?

Motor Vehicle Insurance can be extended to cover employee-owned vehicles used for business purposes under certain circumstances. However, this may require specific endorsements or a separate policy. We can review your business’s needs and provide guidance on how to ensure these vehicles are adequately covered.

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