The business must have a civil liability insurance policy contracted from a private insurer providing minimum coverage of $50,000.

If the business' vehicle is not insured and it is pulled over by the police or involved in an accident that causes more than $500 in damage to the property of another party:

  • all of the business' vehicles may be prohibited from road use
  • the business will be assessed a fine of $325 to $2,800 

The business remains the owner and liable for the vehicle until...

The vehicle is registered in the buyer's name.

This means that should the buyer commit an offence or be involved in an accident with a vehicle that is still registered in the business' name, it is the business who would be held responsible.

Last update: October 31, 2016