As you’ve probably heard already, COVID-19 is still causing significant disruption to global supply chains, with factory shutdowns, freight delays and backlogs at ports. We’ve already seen this with whiteware, electronics and furniture, and now auto parts are being impacted.

Insurers are seeing long delays for some vehicle repairs due to parts being unavailable, longer lead times to get parts into the country, delays at the ports and the resulting backlogs at repairers. This will potentially lead to more time off the road for some vehicle claims, and in some cases higher costs of repair.

If you have commercial vehicle insurance you may like to think about adding the “loss of use” extension to your cover, which will provide for the costs to hire a replacement vehicle while your regular vehicle is off the road for repairs.

The pre-negotiated Vertigo Insurance programme offered by Crombie Lockwood Insurance Brokers includes this extension as a standard part of the protection provided, for no extra charge.

For vehicles with a hiab or crane, you have access to $25,000 to cover the costs of contracting another company to complete this work for you.

For all other vehicles, cover is provided up to a maximum of $5,000 and for a period of 30 days and this can be used towards the cost of hiring a temporary vehicle.

There is a 7 day stand down from the date of loss until this extension can be accessed, which is market standard.

Higher values and length limits can be purchased on request.

So don’t wait until after you have been involved in an accident to review Crombie Lockwood’s offer, contact them today for a free, no-obligation quotation on a like for like basis with what you currently have in place. For SARNZ members, the Vertigo Insurance programme provides the “loss of use” extension to your cover as a standard part of the protection provided, for no extra charge.

Not a member? Contact us today or head to our membership page to sign up and be able to access this scheme and other partner benefits.