What is Commercial Motor Vehicle Insurance?
Commercial Vehicle Insurance, provides cover over a wide range of vehicles such as:
– Cars, Vans, Utes and Trailers
– Specialist vehicles including passenger operator vehicles
– Courier vehicles,
– Contractors Mobile Plant and Equipment, Heavy Machinery, Hired and borrowed plant.
– Transport Operators Vehicles, from vans to large line Haul Truck and Trailers
– Log Haulers and Bulk Carriers
These are the main types of vehicles insured by by no means an extensive list.
Commercial Motor Vehicle insurance can also be referred to as business vehicle insurance or business car insurance. We also often include Mobile Plant in this portfolio of insurances.
Who should consider it?
Typically cover is included in a standard business package policy (e.g. a tradies Van insured in addition to Tools and Liability) or can be taken out as a stand-alone Commercial Motor product. Bespoke fleet policies are often taken out when the number of vehicles insured is more than 14 vehicles to be insured under the one policy.
What can it cover?
Commercial motor vehicle insurance covers all forms of vehicles including cars, trucks, trailers, and motor bikes. It covers losses or damage as a result of an accident, and against any liability incurred. Also covers theft, vandalism, and natural disasters.
What usually isn’t covered?
- Accidents where the driver is convicted of driving whilst under the influence of alcohol or drugs
As with all insurance policies, the devil is in the detail…..so please do read the wording and schedules issued by your insurers. At Balance Advisors we are here to help you navigate your way through these policies, so that you have a good understanding of what you are covered for. Again.. we are here to help!