Business Interruption (Downtime) Insurance

Available only as part of our Driveline Transport Insurance Package

GT Insurance recognises the difficulties transport operators face when their vehicles are unavailable or off the road. With our Business Interruption (Downtime) Insurance you can feel confident that you will be covered during periods when your business is impacted by accidents or repairs.

Who Can Apply for Business Interruption (Downtime) Insurance?

  • Business Interruption (Downtime) Insurance is an extension available to GT Insurance Commercial Motor Vehicle Insurance Policy holders, offering the insured significant financial benefits in the event of their vehicle not earning an income whilst off the road being repaired due to an insured event.
  • This cover is available to policies covering one to nine trucks, trailers, bus or coach where the vehicle is on a comprehensive basis.
  • Business Interruption (Downtime) Insurance is available on new policies, or can be endorsed to or at renewal for existing policies.

Reasons to consider Business Interruption (Downtime) Insurance

With your vehicle off the road the follow-on effect to your cash flow can be significant. If the loss of income would impact your ability to pay any of the following:

  • finance repayments on the vehicle
  • ongoing business expenses such as wages
  • insurance premium funding payments
  • Workers’ Compensation instalments
  • family living expenses such as your mortgage or rental payments
  • school fees
  • utility bills
  • food and essentials

It is worth talking to your broker about how Business Interruption (Downtime) Insurance can help.

Types of Cover Available:

Our Business Interruption (Downtime) Insurance can provide from one to four months cover. You have the flexibility to nominate the period and limit of cover required per vehicle.

Excluded Vehicles:

  • Plant and machinery
  • Pit mining activities
  • Vehicles working within the confines of airports or providing airside services
  • Vehicles capable of being used on rails or water
  • Tow trucks
  • Motor trade risks
  • Vehicles on dry hire
  • Underground mining
  • Mobile cranes
  • Forklifts and the like

Please note, our Business Interruption (Downtime) Insurance has a seven day waiting period.

Business Interruption (Downtime) Insurance is an optional cover. It is designed to help businesses stay afloat during unexpected interruptions to the use of their vehicles. If you believe your business can benefit from the extra protection Business Interruption (Downtime) Insurance can offer, please talk to your broker and consider our PDS.