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Commercial Motor

Commercial motor insurance is a comprehensive insurance policy that is intended to provide cover for unintentional damage to your business motor vehicle or unintentional damage to a third party motor vehicle or third party property that is caused by your business motor vehicle.

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Commercial Fleet Insurance

Having multiple vehicles on the one commercial motor fleet policy is beneficial. Our Brokers have the knowledge and experience to design a fleet management solution for your business.

Commercial Motor

As we know the transport industry keeps Australia moving. With all that time on the roads, truck Insurance is a policy you need to have to be protected from the astronomical costs associated with accident on the roads.

Public Liability

We understand that there are lots of risks and exposures that come with working in the transport industry. Products liability insurance assures you of cover for legal and compensation costs if there are property damages to third parties or you.

Marine Cargo Cover

This cover is available to carriers who can choose from either a ‘comprehensive’ level of cover or a more ‘defined’ cover for specific events such as fire, flood, or theft.

Introduction

Commercial motor insurance is essential for businesses in Australia that rely on vehicles for their daily operations. Whether you run a small delivery service or manage a large fleet of trucks, having the right insurance coverage protects your business from unexpected financial losses due to accidents, theft, or other damages.

Why is Commercial Motor Insurance Important?

  1. Legal Requirement: In Australia, it is mandatory to have at least third-party insurance for all vehicles on the road.
  2. Financial Protection: Covers repair or replacement costs in case of damage or theft.
  3. Liability Coverage: Protects your business from legal liabilities arising from accidents.
  4. Business Continuity: Ensures your operations are not halted due to vehicle-related issues.

Types of Commercial Motor Insurance

  1. Third-Party Insurance: Covers damages to other people’s property and injuries to others in an accident.
  2. Comprehensive Insurance: Includes third-party coverage plus damage to your own vehicle, theft, and other risks.
  3. Fleet Insurance: Ideal for businesses with multiple vehicles, offering comprehensive coverage for the entire fleet.

Common Trucks Insured in Australia

Australia’s commercial sector relies on a variety of trucks to meet the diverse needs of businesses. Here are some of the most common types of trucks that can be insured:

Light Trucks

  1. Toyota HiLux
  2. Ford Ranger
  3. Mitsubishi Triton
  4. Isuzu D-MAX
  5. Nissan Navara

Medium Trucks

  1. Isuzu N Series
  2. Hino 300 Series
  3. Fuso Canter
  4. Iveco Daily
  5. Mercedes-Benz Sprinter

Heavy Trucks

  1. Kenworth K200
  2. Freightliner Argosy
  3. Volvo FH16
  4. Scania R Series
  5. Mack Super-Liner

A List of Some Trucks We Can Provide a Quotation For

At Ideal Insurance Brokers, we offer comprehensive insurance solutions for a wide range of trucks. Here are some of the vehicles we can provide quotations for:

  • Rigid Trucks 2-5T
  • Rigid Trucks 5-10T
  • Rigid Trucks 10+T
  • Prime Movers
  • Concrete Agitator Trucks
  • Concrete Pump Trucks
  • Refrigerated Trucks
  • Pantech Trucks
  • Tautliners
  • Flat Bed Trucks
  • Tipper Trucks
  • Crane Trucks
  • Tow Trucks
  • Dump Trucks
  • Tanker Trucks
  • Garbage/Rubbish Trucks

Trailers:

  • Dog Trailers
  • Articulated Trailers such as (Tautliners, Flatbed, Refrigerated, Skel, Livestock, Tankers, Car Carriers)
  • Trailer in Control cover

Factors Affecting Commercial Motor Insurance Premiums

  1. Type of Vehicle: The make, model, and age of the truck.
  2. Usage: Frequency and nature of use, e.g., long-haul vs. local deliveries.
  3. Driver Experience: The driving history and experience of those behind the wheel.
  4. Location: Where the vehicles are primarily operated and stored.
  5. Coverage Level: The extent of coverage chosen, including additional options like roadside assistance.

Tips for Choosing the Right Insurance

  1. Assess Your Needs: Determine the type and level of coverage your business requires.
  2. Compare Quotes: Get quotes from multiple insurers to find the best deal.
  3. Check the Insurer’s Reputation: Look for reviews and ratings of the insurer.
  4. Read the Fine Print: Understand the terms, conditions, and exclusions of the policy.
  5. Seek Professional Advice: Consult with an insurance broker to tailor a policy to your specific needs.

Benefits of Fleet Insurance

  1. Simplified Management: One policy for all vehicles simplifies renewals and claims.
  2. Cost Savings: Often cheaper than insuring each vehicle separately.
  3. Customised Coverage: Tailored to meet the specific needs of your fleet.

Conclusion

Commercial motor insurance is a vital component of any business that relies on vehicles. By understanding the different types of insurance, common trucks that can be insured, and factors affecting premiums, you can make an informed decision that ensures your business is well-protected.

For more information on commercial motor insurance in Australia or to get a quote, contact Ideal Insurance Brokers today.

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