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Things to Consider When Purchasing Commercial Car Insurance Buying commercial auto Insurance is inevitable once you have an automobile business. This is because one, it is a legal requirement and two, there are bound to be accidents even with low use. You therefore need to choose and buy an insurance policy cover that best suits your company requirements. Auto insurance may cover several things such as liability for bodily injury, cost of unloading and loading, funeral and medical costs, and property damage liability amongst others. When choosing a commercial auto insurance to purchase, you may consider the things discussed below. The kind of coverage you need It is important to ask the insurance agent questions regarding what coverage you will receive with a given commercial auto insurance. Ask them what additional coverage is included so that you know what will be covered especially if an accident occurs. Will the insurance cover cater for the medical bills of wounded persons? What about collusion accountability? Buy insurance which does cater for this additional coverage.
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The payment options available
On Insurance: My Rationale Explained
Another critical factor to consider is the options that are available for paying for the insurance. Ask the broker if they have yearly, bi-annual and monthly payment plans and just how much it might cost. Usually, annual payments are cheaper and or may have discounts while monthly would be a little bit more expensive. If you’re not able to afford the annual lump sum payment choice, then you’ll need to acquire an auto insurance company which has monthly or bi-annual programs and yet isn’t overly pricey. How many drivers and cars the commercial Car Insurance covers If you have many cars for your business, it may be cheaper to buy a fleet insurance than separate commercial auto insurance for each of your cars. Ask the insurance agent how many cars and drivers can be insured by the given cover and then compare to get one that has the best offer. Policy definition for using the automobile for industrial purposes Also, make sure that you know the definition of the policy you are purchasing. You have to know what the limitations are before you make the purchase. For instance, you need to know the aggregate limit, which is the maximum amount you can claim in a year and the occurrence limit which is the maximum amount you can claim in one instance. Also notice the limit of what they could be used for if it is covered by a specified insurance. Most insurance covers will have a definition of what the car is covered for and thus it is wise to buy a suitable policy. Claim Submission Last, you also need to learn how you’ll be submitting claims. You can request the insurance broker on hints for making the entry a smooth encounter. Be sure to read understand what you may be required to perform in case of an accident.