Motor Vehicle Insurance

Reduce risk and secure your future with the trusted insurance advisers at Astute.

What is Motor Vehicle Insurance?

Motor Vehicle Insurance is specifically designed to cover registered and unregistered motorcycles, cars and trucks. There are two main types of cover that you can choose. The first covers the damage your vehicle could cause to other people’s property following an accident, plus related legal costs, this is called Third Party Property Damage (TPPD) cover. 

The second type of cover will provide some level of protection to your own vehicle, depending on your needs. Comprehensive cover will pay for repairs or the value of your vehicle if written off or stolen. There is also an option available that covers damage due to fire or theft of the vehicle. Both Comprehensive and Fire & Theft Insurance automatically include TPPD cover.

Motor Vehicle Insurance is not compulsory, so you can choose the type of cover that’s suitable for your needs. If your vehicle is financed, the bank or finance company will often require Comprehensive Insurance to be in place.

It’s also important to remember that Motor Vehicle Insurance doesn’t cover personal injury to passengers or others or legal defence costs. This is often called Compulsory Third Party (CTP) Insurance and must be purchased before you drive the vehicle.

Why is Motor Insurance important?

Car accidents often happen, and people are injured, or vehicles are damaged or stolen. The damage to your car can be very expensive to repair, and you may also be responsible for repairing the other vehicle, as well as paying legal costs. Finding the money to pay for repairs, or to buy a replacement vehicle if yours is stolen, can be difficult.

Insurance is a way to manage financial risk. It’s easier to budget for an annual insurance premium than making sure you have enough money in the bank to pay for repairs or buy a new car – which could easily be tens of thousands of dollars.

So, whether you own a motorbike, a ute, or operate a fleet of trucks, some level of Motor Vehicle Insurance cover is essential.

What does Motor Insurance cover?

Motor Vehicle Insurance can come in different forms – for example, some insurers specialise in trucks, while others have insurance cover especially tailored for motorbikes. We recommend exploring your options to compare insurers and insurance covers. 

The main types of insurance are:

  1. Private Car Insurance – for individuals or families, with passenger sedans, SUVs, people movers, station wagons and utes not used for business. This can include specialist cover for unique or vintage vehicles rarely driven. Either Comprehensive or TPPD-only cover can be purchased. Optional extensions for the Comprehensive cover include extras on and in the vehicle, and hire of a replacement car for up to 21 days following the theft.
  2. Motorcycle Insurance – for individuals, families or businesses that own or ride quad bikes, ATRs, dirt or road bikes. Either Comprehensive or TPPD-only cover can be purchased. Optional extensions for the Comprehensive cover include extras on and in the vehicle, and hire of a replacement bike for up to 21 days following the theft.
  3. Commercial Vehicle Insurance – for large or small businesses that own or lease sedans, SUVs, utes and trucks. This policy can cover specialist vehicles such as mobile cranes, refrigerated transport, and trucks that can load and unload goods. Either Comprehensive or TPPD-only cover can be purchased. Optional extensions for the Comprehensive cover include extras on and in the vehicle, and hire of a replacement car for up to 21 days following an accident or theft.
  4. Fleet Insurance – for large businesses that own or lease large fleets of sedans, utes, trucks and mobile plant. This policy is designed to cover a large number of vehicles, including specialist vehicles such as mobile cranes, forklifts, refrigerated transport and trucks that can load and unload goods. Either Comprehensive or TPPD-only cover can be purchased. Optional extensions for the Comprehensive cover include automatic cover for new vehicles, tools and equipment, extras on and in the vehicle, and costs to hire a replacement vehicle following accident or theft.

Insurance Advisernet is a specialist in all types of Motor Vehicle Insurance and can help you every step of the way.

Speak to an insurance expert

Speak to an insurance expert

It is our business to understand your objectives, needs, financial situation and risk profile and provide you and your business with tailored risk and insurance advice. 

This is how we work with your business:

  1. We analyse your objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions.
  2. With your input, we undertake risk assessments and conduct market research to determine the most suitable insurance product(s) for your key risk exposure.
  3. Your insurance adviser will present appropriate strategies and solutions and also negotiate and place insurance covers agreed.
     

Frequently Asked Questions

What is Motor Vehicle Insurance?

Motor Vehicle Insurance is a specialised cover designed for all types of vehicle owners to protect themselves from financial loss resulting from loss or damage to their vehicle. It also covers the costs of repairing other people's cars, trucks, or property if they are responsible for the accident, as well as legal defence costs.

What insurance is the best for my vehicles

Different people require different types of cover, depending on the level of protection they need and the type of vehicle. For example, motorcycle owners would consider some level of Motorcycle Insurance cover, while owners and operators of a refrigerated trucking company would consider Fleet Insurance.

Which are the key types of motor vehicle insurance?

While there are lots of different products on the market, the main categories are: 

(1)    Private Car Insurance
(2)    Motorcycle Insurance
(3)    Commercial Vehicle Insurance 
(4)    Fleet Insurance.

Why do I need motor vehicle insurance?

Motor insurance is a way to manage your financial risk. It’s often easier to budget for an annual insurance premium than making sure you have enough money in the bank to pay for expensive repairs or buy a new car, as well as any legal bills – which could easily add up to tens of thousands of dollars.

You must buy Compulsory Third Party (CTP) Insurance before you drive the vehicle if it is registered. The type of insurance and amount of cover will vary, depending on what you use the vehicle for, and the value and level of protection you need. If the vehicle is financed, Comprehensive Insurance is generally required.