Motor Specialised

Companies who have a large number of vehicles at risk or who buy and sell motor vehicles, need bespoke insurance cover for their risk. Chadwicks is proficient in designing tailor made cover for Specified Motor, Motor Fleets, Motor Funds and Motor Traders


Businesses in South Africa have a few options when it comes to structuring their motor insurance.

Specified Motor

Generally our insurance packages include your commercial motor vehicles providing you insure your static asset risk as well (e.g. Buildings, Contents etc). That said, we are able to broker motor risks without the static risk, subject to the risk profile meeting certain predetermined underwriting criteria

Motor Fleets

We are proficient in designing bespoke motor fleet insurance solutions for businesses which own 20 or more motor vehicles. These policies automatically cover vehicles according to vehicle type (e.g. private, commercial, trucks etc), cover type (Comprehensive, Balance of Third Party Fire & Theft or Third Party only) up to preset sums insured. 

The advantage, in addition to automatic cover, is premium economy based on your risk profile.

Motor Funds

Motor Funds (also termed Aggregate Excess policies) cater for clients who have in excess of 20 vehicles and are willing to accept an excess (normally a minimum of R100 000)  in return for a reduced motor premium. 

Insurers only pay accident and theft claims (third party claims do not form part of the excess and are covered 100% from ground-up) once this excess has been exhausted or the amount of a single claim exceeds a predetermined sum insured threshold (normally called the “Stop Loss” limit).

Motor Traders

Businesses which have motor vehicle stock (typically motor dealers) or who have customers vehicles in their custody/control are unable to list these vehicles under a normal motor policy as the unregistered vehicles change on a constant basis or the vehicles are owned by the customer. A Motor Traders policy covers these situations including a wide range of other risks, such as the liability and demonstration risk

A vehicle is an essential part of business but is a liability with numerous risks. Suppose you are a motor trader and you own the vehicles on your shop floor, or you run a vehicle repair shop where the vehicles do not belong to you. Who would be liable for damage, loss or repair costs caused through accidental damage to these vehicles whilst under your care? 

Because of the compounded risks associated with being responsible for numerous vehicles, it’s important that you find a reputable insurance broker like Chadwicks with whom to discuss your particular business insurance needs.

Internal and external insurance for Motor Traders

Business insurance for motor traders and garage owners can be divided into internal insurance and external insurance.

Motor Traders Internal

Internal insurance provides cover against accidental damage to vehicles whilst on the premises of the insured business.

For example, during the moving of a demo car from one location of the floor to another, for example, a pillar might be knocked over and fall onto another demo car, resulting in serious damage to both cars.

Motor Traders External

External insurance provides cover for accidental damage to vehicles away from the premises of the insured business.

When discussing your particular business insurance needs with Chadwicks insurance brokers, make sure the cover, exclusions and any extensions that are specific to the motor insurance you require are addressed. Pay particular attention to third-party liabilities that may be incurred directly or indirectly by those driving the vehicles.

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