Heavy Vehicle Insurance
Heavy Vehicle Insurance typically covers various risks and events resulting in damage, loss, or liability related to commercial vehicles, heavy motor vehicles and heavy equipment. When it comes to the movement of goods and raw materials, heavy motor vehicles and trucks are the backbone of the Australian economy, transporting 70% of all freight in Australia. From road trains and livestock vehicles to tradie utes and mine-spec fleets, Knightsbridge Insurance Group can ensure that you choose the best policies to minimise the financial impact and stress that unexpected events can cause.
PUBLIC & PRODUCT LIABILITY
Public, and product liability coverage can protect businesses against claims for damages or injuries caused to third parties. Both public and product liability coverage is essential in the heavy motor industry, as accidents and injuries can occur both on and off the road. Depending on your specific needs and risks, you may require additional coverage, so it’s best to speak with us directly before deciding.
ACCIDENTAL LOSS OR DAMAGE
Accidental loss or damage coverage is a key component of Heavy Vehicle Insurance. As the name suggests, this coverage protects you from accidental damage or loss to the insured vehicle or equipment caused by collisions, theft, fire, or natural disasters.
COST OF REPLACEMENT OR REPAIR
Cost of replacement or repair coverage is a fundamental facet of Heavy Vehicle Insurance. This type of coverage safeguards your business against the cost of repairing or replacing the insured vehicle or equipment if it is damaged or destroyed due to a covered event.
Business downtime is an optional type of coverage that can be included in Heavy Vehicle Insurance policies. It protects your business against financial losses resulting from a covered event that causes the insured vehicle or equipment to be out of order and unable to generate income for some time. For example, repairs and replacements, delivery delays and rental costs.
MARINE TRANSIT/CARRIERS TRANSIT
Marine transit insurance typically includes coverage for loss or damage to cargo due to theft, fire, sinking, collision, or other types of accidents. It may also include liability coverage, which protects against claims for damages or injuries caused to third parties during the transit of goods. Marine transit insurance may offer additional coverage options, such as shipment delays. Please speak to our team today to learn more!
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Protect Heavy Motor Assets with Reliable Heavy Vehicle Insurance Solutions
What is heavy vehicle (motor) and truck insurance?
Heavy Vehicle Insurance is a type of insurance policy that provides coverage for your crucial commercial vehicles, heavy motor and heavy equipment. Without Heavy Vehicle (Motor) Insurance, you are at risk of suffering from financial losses that may arise from collisions, theft, fire, or other damage to the vehicle.
The premium for Heavy Motor Insurance policies depends on several factors, including the type of vehicle, its usage, the driver’s experience, and the risk profile of the insured party. Policies can be customised to suit your specific needs and may include additional coverage for specialised equipment, cargo, or other contingencies.
At Knightsbridge, we take the time to understand your business and tailor policies to suit your unique needs, providing you with the peace of mind you deserve. Book a time to chat with our friendly team today to discuss your options today.
What is classified as a heavy vehicle in Australia?
In Australia, heavy vehicles, including emergency vehicles, have a Gross Vehicle Mass (GVM) greater than 4.5 tonnes, such as:
- B-double freight trucks
- Road trains
- Passenger buses
- Vehicle carriers
- Livestock and other agricultural vehicles
- Mobile cranes
- Other special-purpose vehicles.
If you have company vehicles that are less than 4.5 tonnes, please visit our Commercial Motor Insurance page.
What’s the difference between Commercial Heavy Motor Insurance and Heavy Motor Fleet Insurance?
The scope and size of your company’s heavy motors is the key difference. Generally, if your company has over 15 vehicles, you will need Heavy Motor Fleet Insurance instead of standard Commercial Heavy Motor Insurance.
- Commercial Heavy Motor Insurance covers individual vehicles used for commercial purposes, such as a delivery truck, a construction vehicle, or a single company car. It typically covers the cost of damage to the vehicle, third-party liability, and theft or loss.
- Heavy Motor Fleet Insurance covers a group of vehicles owned by a business or organisation, including cars, trucks, vans, or other vehicles used for business purposes. Fleet Insurance can offer more cost-effective coverage for companies with a large number of vehicles compared to insuring each one individually.It typically covers the same risks as Commercial Motor Insurance but can also provide additional benefits, such as lower premiums and more flexible coverage options.
How can we help?
Protecting your business assets is crucial for long-term success, and the right insurance coverage can make all the difference. At Knightsbridge, we understand the unique risks and challenges facing businesses today, and we’re here to help.
Our team of experienced insurance professionals is dedicated to providing prompt, tailored insurance solutions that meet your specific needs and budget. From a couple company trucks to an entire fleet, we offer a range of products designed to keep your business moving forward.
Don’t wait until it’s too late – take the first step towards peace of mind with Knightsbridge today!
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Why work with Knightsbridge Insurance Group?
Knightsbridge Insurance Group is an Insurance Broking Business with over 70 years of collective insurance experience and is founded on generational values that make you feel secure, protected and cared for. As we grow and expand the Knightsbridge Family, we continue to have a deep understanding of your desire to innovate and be extraordinary — both in business and in life.
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