A GUIDE TO HEAVY MOTOR VEHICLE INSURANCE
Heavy duty insurance protection
All registered vehicles including heavy motor vehicles are required by law to have Compulsory Third Party (CTP) insurance. CTP insurance covers claims as a result of a road accident causing bodily injury to other persons.
You can arrange this direct with the insurers or motor garages that provide inspection pink slips but not through our brokerage.
Covers claims for damage to other vehicles and property including buildings and fences, as a result of a road accident.
Covers repairs to your own vehicle and also third party property damage. You can even include the cost of hiring a vehicle while repairs are being made.
Both types of policy are subject to excesses that are payable in the event of a claim but can be recovered if it is not your fault. Amounts vary but are typically around $400 but additional excesses are applied to policies for drivers who are inexperienced, traffic convicted or under 25 years old.
These are achieved by having years of claim-free CMV (Comprehensive) insurance which reduces the premium. No Claims Bonuses (NCB) usually work as follows:
1 year - 20% discount
2 years - 30% discount
3 years - 40% discount
4 years - 50% discount
5 years - 60% discount (maximum)
There are other ways they can be awarded. For instance, the insurance company will award an NCB if ye are an employee has a company car provided and the employer can supply evidence that you have driven the vehicle without incurring a claim.