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Businesses – Getting Started & Next Steps

Things to Consider When Purchasing Commercial Car Insurance Buying commercial auto insurance is inevitable when you have an auto business. This is because one, it is a legal requirement and two, there are bound to be accidents even with low use. You therefore have to choose and buy an insurance policy cover that best fits 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 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 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 liability? Purchase insurance which does cater for all these additional coverage.
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The payment options available
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Another crucial Aspect to Consider is the alternatives which are available for paying for the insurance. Ask the agent if they have annual, bi-annual and monthly payment plans and how much it would cost. Normally, yearly payments are cheaper and or might have reductions while monthly would be a little bit more expensive. If you are not able to afford the annual lump sum payment option, then you will need to get an auto insurance company that has monthly or bi-annual plans and yet is not too expensive. How many drivers and cars the commercial Car Insurance covers In case youhave many cars for your company, it might 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 coverage you are buying. You have to know what the limits are before you make the purchase. As an example, you need to know the aggregate limitation, which is the maximum amount you may claim in a year and also the incidence limit that’s the maximum amount you can claim in one instance. Also note the limitation of what the can be used for when it is covered by a given 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 submission a smooth experience. Be sure to read know what you will be required to do in case of an accident.