A GUIDE TO HEAVY MOTOR VEHICLE INSURANCE

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.