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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’s a legal necessity and two, there are bound to be accidents despite reduced use. You therefore need to choose and buy an insurance policy cover that best suits your company requirements. Auto insurance may cover several things including liability for bodily harm, cost of loading and unloading, funeral and medical costs, and property damage liability amongst others. When picking a commercial automobile insurance to buy, you might think the things discussed below. The kind of policy you need It is important to ask the Insurance broker questions regarding what policy you will receive using a given commercial car insurance. Ask them what extra coverage is included so that you understand what will be covered particularly if an accident happens. Will the insurance cover cater for the medical bills of wounded persons? What about collusion liability? Purchase insurance which does cater for all these additional coverage.
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The payment Choices available
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Another crucial aspect to consider is the alternatives which are offered for paying for the insurance. Ask the agent if they have yearly, bi-annual and monthly payment programs and just how much it might cost. Normally, yearly payments are cheaper and or might have reductions 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 cars and drivers the commercial auto 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 significance for using the automobile for commercial purposes Also, make sure that you know the definition of the policy you are buying. You need to know what the limits 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 exactly what the car is insured for and thus it is a good idea to purchase a suitable policy. Claim Submission Lastly, you also need to find out how you will be submitting claims. You can ask the insurance agent on tips for making the entry a Smooth encounter. Be sure to read know what you will have to perform in case of an accident.