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Things to Consider When Purchasing Commercial Car Insurance Buying commercial auto Insurance is inevitable once you’ve got 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 such as liability for bodily injury, cost of unloading and loading, 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 agent questions regarding what coverage you will receive with a given commercial auto 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 injured persons? What about collusion accountability? Buy insurance which does cater for this additional coverage.
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The payment Choices 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. Usually, yearly payments are more economical and or might have reductions while monthly would be a little bit more costly. If you’re not able to afford the annual lump sum payment option, then you’ll want to get an car insurance company which has monthly or bi-annual programs and yet isn’t overly pricey. How many drivers and cars 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 drivers and cars could be insured from the given cover and then compare to get one which has the best offer. Policy definition for using the car for commercial 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. For instance, you need to know the aggregate limit, that’s the maximum amount you may claim in a year and also the occurrence limit which is 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 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.