Motor fleet insurance is essential coverage for businesses operating a vehicle fleet.
Commercial Fleet insurance is specifically designed to cover registered and unregistered sedans, utes and trucks, and it’s more cost-effective and convenient than purchasing individual policies.
There are two main types of cover that you can choose.
The first is called Third Party Property Damage (TPPD) cover. It covers the damage your vehicle could cause to other people’s property following an accident, plus related legal costs. The second type is Comprehensive, which covers the cost of repairs to your vehicle or market value if stolen or a total loss and Third-Party Property Damage (TPPD).
Motor vehicle insurance is not compulsory, so you can choose the type of cover suitable for your needs. If your vehicle is financed, the bank or finance company will often require Comprehensive insurance to be in place.
It’s also important to remember that TPPD or Comprehensive insurance does not cover personal injury to passengers or legal defence costs. This is a separate cover, Compulsory
Third Party (CTP) insurance and must be purchased before you drive the vehicle.
When choosing motor fleet insurance, it’s essential to consider the size and type of fleet, as well as accident history and claims. Some businesses may also need cover for wet or dry hire, long-distance haulage or hazardous goods.
Working with an experienced insurance adviser can help companies determine the best risk management and insurance coverage that fits your needs.
Overall, motor fleet insurance is a valuable tool for companies that rely on vehicles for operations.
Motor Vehicle Fleet insurance protects against significant repair costs or even the loss of an expensive vehicle.
Contact us today to find out more.
Call: 02 9133 9900
Email: info@lainsurance.com.au