Heavy Vehicle Transport Insurance

Australia wide cover on all Vehicles

Some Insurers offer substantial discounts for insured’s who travel within a certain radius, but make sure that you can still get full cover even if the accident occurs outside the nominated radius but it may be subject to an additional excess. 
Sometimes the excess can be waived for a small fee for individual trips outside the radius, advised to insurers in advance.
The excess only applies if the accident actually occurs outside the radius, & the radius is measured ‘as the crow flies’. Some insurers decline to pay the claim altogether if you exceed their radius, and others take it one step further by sometimes actually refusing to pay the claim even if you were inside your radius at the time of an accident! These insurers have a policy which enables them to refuse to pay your claim, if they can prove you were merely embarking on a journey that would have taken you outside the radius for any part of the trip. This means you could crash in your own driveway, and still not be covered!

Latest News

D&O premium pool ‘must treble’ to return to profitability

A new report – called "Show Me The Money!" by insurer XL Catlin and law firm Wotton + Kearney – is the second in a series of three white papers on securities class actions and their impact on the Directors & Officers Liability (D&O) market. The main conclusion is that Directors’ and officers’ (D&O) insurance premiums are under-priced significantly and need to rise strongly to restore profitability. The main risk areas are those exposed to securities class actions, 

It says Directors & Officer's Side A, Side B and Side C cover has been chronically underpriced since at least 2011, while the frequency of class actions is increasing as more plaintiff lawyers and litigation funders enter the space.

The analysis suggests last year’s overall premium pool of about $210 million would need to increase by at least three times to establish a profitable market, if it is assumed all other factors stay unchanged.

“Recent market developments would indicate most D&O insurers are now endeavouring to restore some semblance of profitability to their portfolios after years of market losses,” the report says.

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75% of Cyclone Debbie claims settled

In the 6 months since Cyclone Debbie devastated Queensland and parts of northern New South Wales:

• more than 31,000 homes and business have been repaired or received settlements from their insurance company

• more than 20,000 families have had possessions replaced

• more than 4,500 motor vehicles have been repaired or new vehicles provided

• hundreds of local builders and trades have been working on properties to repair the damage and destruction caused by the cyclone

• over $5 million has been paid EACH DAY to assist local communities, residents and businesses.

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