What is Commercial Motor and Fleet Insurance?

What is Commercial Motor and Fleet Insurance?

January 19, 2021 Views: 466
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You can’t be a back-seat-driver with your employees 24/7, so making sure your vehicle insurance is right for your business, is more than good sense. It’s peace of mind.

It doesn’t matter if you have one business vehicle, or a fleet of trucks, you will need a Commercial Motor Insurance policy to make sure your vehicles are covered for accidental damage, theft and to cover damage to third party vehicles and property.


What does it cover?

Commercial Motor and Fleet Insurance policies offer options on how to insure your business vehicles - you can choose from comprehensive, third party fire and theft, and third party only covers, just like a private motor insurance policy. 

While these three covers are essentially the same as a private motor insurance, there are often additional benefits that suit business use better, and sometimes these can be tailored according to your actual occupation or use. 

All three cover options include third party legal liability cover which protects your business and employees if one of your vehicles has damaged another party's property or vehicle, or if there has been third party injury.


What are some of the benefits and features of Commercial Motor and Fleet Insurance?

Depending on the insurer and policy, there are a wide range of benefits. For example;

Some insurers don’t need to note all drivers of the vehicles (handy if you have lots of drivers in and out of vehicles), and the majority have cover features like automatic additions and deletions cover throughout the year, unlimited windscreen cover, hire-costs for replacement vehicles or equipment, new vehicle replacement benefits, lease payout, sign-writing, and downtime cover just to name a few. 

For larger fleets or mixed vehicle businesses, you can easily combine your passenger vehicles, along with your goods carrying and heavy motor, as well as plant and mobile machinery under one fleet policy.

Working with a broker to understand your vehicle usage and commercial motor insurance needs is a sure-fire way to make sure you’re properly informed about your cover, aware of the options available to you and that you have an advocate in your corner at claim time.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Laura Meyer, MeyerInsure, ABN : 87 340 928 486, AFSL : 233750 , AR Number: 1284200

This article originally appeared on MeyerInsure - Blog and has been published here with permission.

Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Laura Meyer.

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Laura Meyer

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