Cover
Fire, Lightning, Hail, Explosion, Flood, Collision and/or Overturning, Jack-knifing and Derailment of the Conveying Vehicle including Impact of any object not on or part of the Vehicle
Optional Cover
In order to make an informed assessment of the risk and calculate the appropriate premium, your insurer needs information about the risk you are asking it to insure.
For this reason, before you enter into a contract of insurance, you have a duty under the Insurance Contracts Act 1984 to disclose to your insurer every matter that you know, or could reasonably be expected to know, is relevant to the insurer’s decision whether to accept the risk and, if so, on what terms. The duty also applies when you renew, extend, vary or reinstate a contract of insurance.
You do not have to disclose anything that:
Reduces the risk to be undertaken by the insurer;
Is common knowledge;
Your insurer knows, or in the ordinary course of its business, ought to know; or
If the insurer has waived your obligation to disclose.
One important matter to be disclosed is the history of losses suffered by the person seeking insurance or any closely associated person or entity. As you are responsible for checking that you have made complete disclosure, we suggest that you keep an up to date record of all such losses and claims.
