NTI Transport Package is a flexible insurance product designed for businesses with less than 15 commercial motor items to insure. It combines four insurance products:
- Commercial Motor
- Liability
- Marine Cargo cover
- Business Interruption, which delivers an all new, income protection style of cover.
Clients can choose to include all four insurance products in their NTI Transport Package or tailor something to suit their needs – Commercial Motor is the only mandatory inclusion.
Features of the NTI Transport Package*
Product 1 - Heavy Commercial Motor Insurance
The Heavy Commercial Motor policy includes:
- New-for-old replacement cover on trucks following a total loss if the insured vehicle is less than two years old
- Removal of debris up to $50,000
- Third Party Liability coverage of up to $32.5 million for nonhazardous goods
- Option to pay out finance on the truck following a total loss
- Up to $100,000 in liability cover for damage to client’s rented/leased premises caused by their own vehicle
- Unlimited vehicle sign writing
- Automatic cover for 30 days for additional vehicles up to the value of $300,000.
Product 2 - Liability Insurance
Covers public and product liability including:
- Liability for property damage from fire and accident
- Personal injury to contractors, hired staff or third parties such as visitors or the general public
- Product liability arising from the incorrect use of goods, mixing or assembly
- Care, Custody and Control from $100,000 for damage to goods held on behalf of a customer
- Damage to underground services caused by earthmoving equipment.
Product 3 - Marine Cargo Cover
The policy offers the choice of Carrier’s Goods In Transit (Perils) Cover or a broader Accidental Damage option^. The Accidental Damage option includes automatic cover for:
- Loading/unloading
- Shedding of load
- Theft, pilferage and non-delivery
- Up to $50,000 for expenses related to recovery cost, mustering/agistment plus up to $50,000 for clearing debris
- Up to $10,000 for hire of a replacement vehicle and up to $20,000 to repair/replace shipping containers
- Option to include cover for freight consequential loss of $100,000.
Product 4 - Business Interruption CoverIncome protection style of cover – when your client has a valid NTI claim for damage to their vehicle, NTI’s Business Interruption product will protect them. They define the benefit amount they wish to receive and the indemnity period they wish to cover. Indemnity periods are sold in weekly ‘lots’, up to a maximum of 24 weeks.
To download the NTI Transport Package policy wordings, please click here.
* Subject to policy wording, limitations, terms, conditions and exclusions. For full details, refer to the relevant policy wordings.^ Restrictions apply to refrigerated, livestock and car carriers.