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Calculating commercial auto insurance premiums involves several factors that insurers consider to determine the cost of coverage for a business’s vehicles. While the specific details can vary among insurance providers, the following are common factors considered in the calculation:

The amount of Your premium is determined by taking a number of diff erent matters into account. You can seek a quote at any time. It is important for You to know that the premium varies depending on the information We receive from You about the risk to be covered by Us. Based on Our experience and expertise as an insurer, We decide what factors increase Our risk and how they impact on the premium.

 The base premium We charge varies according to a number of factors including Your risk profi le. Your risk profi le is based on a combination of factors that assist in determining the likelihood of a claim occurring in the Policy year and the amount that the claim is likely to cost Us. The factors that make up Your risk profi le include Your relevant driving history and driving experience, relevant claims and incident/accident history. Other factors are then taken into account such as where the Vehicle is located, the type of Vehicle being insured and its condition, any modifi cations, the amount of cover required and excesses selected and relevant insurance, criminal and bankruptcy history. Factors that increase the risk to Us may result in a higher base premium whilst factors that decrease Our risk may result in a lower base premium. 

Your premium also includes amounts that take into account Our obligation to pay any relevant compulsory government charges, taxes or levies (e.g. Stamp Duty, GST, Emergency Services Levy/ESL) in relation to Your Policy. These amounts will be set out separately on Your schedule of insurance as part of the total premium payable. In cases where We are required to pay an estimated amount (e.g. for Emergency Services Levies) based on criteria set by the Government, we allocate to the Policy Our estimate of the amount We will be required to pay. We may over or under recover in any particular year but We will not adjust Your premium because of this. You can ask Us for more details if You wish. Minimum premiums may apply. When You apply for this insurance, You will be advised of the total premium amount payable, when it needs to be paid and how it can be paid. This amount will be set out in the schedule, which will be sent to You after the entry into the Policy. If You fail to pay We may reduce any claim payment by the amount of premium owing and/or cancel the Policy in accordance with the process set out in the “How We may cancel this Policy” section.

Our contract with You Where We agree to enter into a Policy with You it is a contract of insurance between Us and You (see the defi nition of You for details of who is covered by this term). The Policy consists of: 

• this document which sets out the standard terms conditions, limits and exclusions of your cover; 

• Your Schedule issued by Us. Your Schedule is a separate document, which shows the insurance details relevant to You. It may include additional terms, conditions and exclusions relevant to You that amend the standard terms of this document. Only those sections shown as covered in Your schedule are insured;

• any other change to the terms of the Policy otherwise advised by Us in writing (such as an endorsement or Supplementary PDS) at or prior to commencement of the Policy or when required or permitted by law. These written changes may vary or modify the above documents. These are all important documents and should be carefully read together and kept in a safe place for future reference. We reserve the right to change the terms of the Policy where permitted to do so by law. Any new or replacement schedule We may send You, detailing changes to Your insurance or the Period of insurance, will become the current schedule, which You should carefully read and retain. Your obligation to comply with the Policy terms and conditions You are required to comply with the terms and conditions of the Policy. Please remember that if You do not comply with any term or condition, We may (to the extent permitted by law and to the extent We are prejudiced by Your non-compliance) decline or reduce any claim payment and/or cancel Your Policy. If more than one person is insured under the Policy, a failure or wrongful action by one of those persons may adversely aff ect the rights of any other person insured under the Policy

Your Duty of Disclosure Before You enter into a contract of insurance with Us, You have a Duty, under the Insurance Contracts Act 1984, to disclose to Us every matter that You know, or could reasonably be expected to know, is relevant to Our decision whether to accept the risk of the insurance and, if so, on what terms. You have the same Duty to disclose those matters to Us before You renew, extend, vary or reinstate the contract. This Duty of Disclosure applies until the contract is entered into (or renewed, extended, varied or reinstated as applicable). Your Duty however does not require disclosure of any matter:

 • that diminishes the risk to be undertaken by Us; or

 • that is of common knowledge; or 

• that We know or, in the ordinary course of Our business as an insurer, ought to know; or

 • as to which compliance with Your Duty is waived by Us. 

Non-disclosure If You fail to comply with Your Duty of Disclosure, We may be entitled to reduce Our liability under the contract in respect of a claim, cancel the contract, or both. If Your non-disclosure is fraudulent, We may also have the option of avoiding the contract from its beginning. Privacy Notice We give priority to protecting the privacy of your personal information. We do this by handling personal information in a responsible manner and in accordance with the Privacy Act 1988 (Cth). How we collect your personal information We usually collect your personal information from you or your agents. We may also collect it from our agents and service providers; other insurers and insurance reference bureaus; people who are involved in a claim or assist us in investigating or processing claims, including third parties claiming under your policy, witnesses and medical practitioners; third parties who may be arranging insurance cover for a group that you are a part of; law enforcement, dispute resolution, statutory and regulatory bodies; marketing lists and industry databases; and publicly available sources. 

To get an accurate commercial auto insurance quote, businesses typically need to provide detailed information about these factors to the insurance provider. It’s important to review and update this information regularly, especially if there are changes in your business operations or fleet composition. Additionally, shopping around and obtaining quotes from multiple insurers can help businesses find the most competitive rates for their specific needs.