What is Commercial Motor Vehicle Insurance?

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. It does not provide cover for personal injury to third parties. The policy is designed to cover commercial vehicles and get them back on the road after an accident.

Key Highlights

If your fleet of business vehicles is not covered by Motor Vehicle Insurance and one of those vehicles is in an accident, it can cause you significant financial hardship. HIA Insurance Services can help you with any claim you make, or any claim made against you, in the event of accidental loss or damage to an insured business motor vehicle. 

  • Comprehensive Insurance covers you for vehicle loss or damage
  • Third Party Property Damage provides protection for damage to third party vehicles or other property for which you are legally liable
  • Third Party Property Damage Fire & Theft covers your vehicle against theft and damage by fire, plus third party liability
 

Why might I need Commercial Motor Vehicle Insurance?

Commercial Motor vehicle insurance is worth considering if you own or are responsible for one or more vehicles used for business purposes. HIA Insurance Services can obtain cover for comprehensive, third party property damage or third party, fire and theft cover.

Note that a Commercial Motor Vehicle Insurance policy can be renewed on an annual basis without you having to take out an individual policy for each vehicle. A Commercial Motor Vehicle Insurance policy can include an endorsement named ‘automatic inclusions and deletions’ that allows the policyholder to add new vehicles when they are purchased and remove vehicles when they are sold during the policy period.1

What is covered?

Depending on whether you qualify for Aon’s Defigo Commercial Motor insurance, which is suitable for fleets comprising fewer than ten vehicles, or Aon’s Vertex Commercial Motor Insurance, suitable for fleets of ten or more vehicles (not Heavy Motor), the following key policy features are included:

Related Products
Construction Works Insurance

Protect your assets against loss or damage by taking out Construction Works Insurance.

Find out more
Home Warranty Insurance

Mandatory insurance (with some exceptions) for residential building projects over a certain value.

Find out more

Why HIA Insurance Services?

HIA Insurance Services (HIAIS) is a joint venture between the Housing Industry Association (HIA) and Aon. The partnership means HIAIS can combine the construction industry expertise of the HIA with the risk and insurance knowledge of Aon to provide products and advice that are specific to the residential construction industry.

We understand the unique risk exposures of Australian builders, tradies and subcontractors, which means we can offer you policies that are tailored for risks commonly found in the construction sector, as well as fast and efficient claims processes.

Frequently Asked Questions

Business car insurance covers your vehicle for both personal and business purposes. However, commercial car insurance is solely for vehicles used for work purposes. 

Yes, Commercial Motor Vehicle Insurance can  provide replacement vehicle over. However, for some policies, this is an additional benefit, which will need to be specifically requested and is likely to attract an additional premium amount.

You can buy Commercial Vehicle Insurance for a wide range of vehicles including: sedans, wagons, utes, 4WDs and goods-carrying vehicles up to 2, 5 and 10 tonnes, trailers, mobile and earth-moving equipment. 

Vehicles that generally are not covered under a commercial motor policy include: taxis/ former taxis, driving instructor vehicles, rescue vehicles, vehicles carting asbestos, motorcycles, grey imports (products that you buy from a seller who does not have specific permission from the manufacturer), mining machinery/vehicles working underground, hire vehicles, security company vehicles, couriers/taxi trucks, mobile cranes/hook risks, long haulage vehicles, and vehicles used for carrying passengers for hire or reward – e.g. buses, ride share.   

These types of vehicles will need to be approved by the insurer along with any other vehicle that maybe exempt from cover. 

Yes, Learner drivers, Provisional drivers and drivers under 21 are covered. An additional Excess is usually payable for young or inexperienced drivers.  

 

1Subject to the terms and conditions of the policy, including applicable notice periods and premium adjustments.

In arranging certain insurance policies, HIAIS has binder agreements with relevant insurers under which HIAIS is authorised to commit such insurers to providing cover without reference to them. When acting under a binder we will be acting under an authority given to HIAIS by the insurer and will be effecting the insurance contract as agent of the insurer and not as your agent. Any information provided about policies is general in nature and does not take into account your particular objectives, financial situation and needs. Before making a decision, you should carefully consider all information provided to you. Our binder arrangements with insurers are such that we remain your agent in the handling of any claim.