Commercial Motor Transport and Logistics

Commercial Motor Transport and Logistics

Transport and logistics businesses face a variety of risks to commercial motor vehicle and goods being carried due to accident, fire or theft. A combination of policies can cover such risks including third party risks.

These policies can also cover temporary shutdown of business caused by fire, theft, or accident of vehicle and much more.Technology, population growth, infrastructure issues and environmental concerns are changing the risk landscape of transport industry continuously. It is a complex area and an experienced advice can ensure that you are properly insured at the right cost. Our specialist team can explain you the possible risks and introduce you the products available to minimise those risks.

Let us give you a brief introduction to some of the key insurance products related to commercial motor and logistics industry.

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Commercial vehicle: A compressive commercial vehicle insurance protects your business cars, trucks, buses, Utes and other vehicles that you use in the day-to-day operations from a range of risks including accident, fire, theft, hail storm or flood. Different insurers provide different coverages like choice of repairer or Excess free windscreen replacement etc at different costs. We will help you in doing cost benefit analysis and decide appropriate policy. We can also get you finance payout option to ensure that you are adequately compensated.

Property: Protects your buildings, such as office facilities, and other premises, such as vehicle yards, from damage caused by events like fires, storms, explosions, falling trees or malicious damage.

Warehousing: Provides specialised coverage for businesses operating warehouse facilities (including cold storage), against risks to property, stocks and public liability claims.

Goods in transit: Also known as Marine Cargo, protects your business against financial loss if goods are lost, damaged, or destroyed while off premises and in transit.

Management liability: Protects your management team in case you need to defend, settle or pay a compensation claim. Some of the examples of claims are privacy breach, Fairwork claims, tax audits and employees’ dishonesty.

Business interruption: Covers the costs of operating your business, like paying staff and covering bills while you cannot operate due to an insured event. It provides financial stability and business continuity in the wake of insured

Workers’ compensation: Covers the cost of your employees’ wages, rehabilitation and medication if they become injured or sick through their work. Different states have different rules and you may need to check what applies to you depending upon where your business is located.

Do you know?

Freight logistics accounts for around 14.5% of Australian GDP.
(The Chartered Institute of Logistics and Transport website, 2020)

Each year 4 billion tonnes of freight are transported across Australia.
(National Freight and Supply Chain Strategy, 2019)

A 35% increase in freight volumes is predicted across Australia between 2018 and 2040.
(National Freight and Supply Chain Strategy, 2019)

“Truck drivers have a 13-fold higher risk of dying at work than other Australian workers.”
(Monash University, Driving Health Study, 2018)

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