Motor Vehicle insurance
“More than half of Australian drivers (58%) narrowly avoid a car crash at least once a month, while 18% of drivers said they experienced close calls on a weekly basis.”
Australian Road Safety Foundation, 2017
What is motor insurance?
Motor insurance can cover your motor vehicle against accidental damage and theft. It can also protect you from the financial costs of repairing or replacing another person’s vehicle in an accident where you’re at fault.
Who should consider it?
Drivers of almost any vehicle including:
Cars Commercial Vehicles Motorbikes SUV’s Luxury Vehicles
What if?
Your car is damaged in an accident where you’re at fault, having comprehensive motor insurance helps to pay for repairs – or can replace it all together if your car is written off.
Your car is stolen, comprehensive motor insurance can pay you the agreed or market value, so you can buy another car.
Third party property damage (TPPD) insurance – can cover the costs you may be liable to pay if you are at fault and damage or write off someone else’s car – is also available as a standalone policy. However, if you only have this cover, there’s no cover for any damage to your own car.
What can it cover?
Even the best drivers can have an accident and be at fault. That’s when things can become very expensive, very quickly. We can find cover from our huge range of quality insurers for expenses like:
- Third party insurance to cover damage to other vehicles
- Comprehensive insurance to cover the costs of your vehicle as well
- Replacement of lost or stolen vehicles
- Fire damage
- Rental car costs
- Legal liability
- Re-keying or coding
- Replacement keys
- Windscreens
- Damage cause by other uninsured parties
What usually isn’t covered?
Each policy is different, but generally you won’t be covered if the vehicle is:
- Being driven by an unlicensed driver.
- Being driven by you or any other person while under the influence of any drug or alcohol.
- Being used in any motor sport or time trial.
There are other exclusions which your Steadfast insurance broker can outline for you.
In addition, there is a deductible/excess.
CASE STUDY
On her way home from work, Sylvia was involved in a minor accident with a SUV, which was her fault. While the other car had a minor scratch, her car had some serious damage.
After pulling over, Sylvia contacted her insurance broker who took some details and arranged for her car to be towed and assessed. Because her policy also contained a rental car inclusion, they helped Sylvia arrange a hire car so that she could get to work while her car was off the road.
An assessor contacted her the next day, letting her know that her car could be fixed and that her insurance would cover the cost. They arranged to have it repaired at her smash repairer of choice. While she was waiting for her car to be repaired, Sylvia had access to the rental car – with the cost also covered by her policy.
Contact us today
A product disclosure statement (PDS) is available from us. You should consider the PDS in deciding whether to acquire, or continue to hold, Motor Vehicle insurance.
For professional advice on Motor Vehicle Insurance placement solutions, please contact All Star Brokers.
