Getting The Right Commercial Insurance Cover
Written on November 9, 2011 – 1:38 pm | by admin
The definition of a ‘commercial vehicle’ is quite broad; it can encompass heavy goods vehicles that transport large and bulky items around the country; it can also mean a taxi that’s sole purpose is to chauffeur a few passengers; or indeed, it can be defined as a large passenger vehicle such as a bus. It is this reason that many people and companies find the concept of commercial vehicle insurance confusing and they often do not end up with the right quote or insurance policy.
If your company employs more than one vehicle to transport goods then considering ‘fleet insurance’ may be a good way to save on the expenditure. This type of insurance is designed to insure 2 or more vehicles at a time and it will work out cheaper than paying the premium for an individual policy for each vehicle. Indeed, many insurers can insure your vehicles for only transporting what the law defines as ‘light goods.’ These are things like pizza delivery etc… there is no point in paying the same price as large haulage vehicles that transport heavy cargo for hundreds of miles when your fleet of vehicles are only carrying small goods around the local area.
One important point to look out for when it comes to commercial insurance is the concept of ‘goods in transit’. This is essentially cover for the goods and cargo that you are transporting. For example, if you run a computer repair shop and use your own vans to deliver and collect the goods; the ‘goods in transit’ policy will insure, not only the vehicle, but the cargo on board as well. Some insurers will not provide this as standard so it is worth checking your policy to make sure that this is included because, in the event of an accident, you could be left with a massive bill.