What coverage is needed for your commercial vehicle?
Always make sure you have liability coverage in place
The basis of any commercial vehicle insurance policy?
That’s third-party liability coverage.
This coverage is mandatory.
It protects you from claims if your commercial vehicle is involved in an accident.
Once you have liability coverage?
This ensures that you won’t be held responsible for:
- Medical treatments
- Repairs to other vehicles
- Damage to property of others
It is important for businesses to have adequate coverage.
This is because it can prevent a serious claim for financial hardship.
Have you thought about coverage for damage to your own vehicle?
In addition to liability coverage, it is wise to consider coverage for damage to your own commercial vehicle.
This is often called hull coverage.
This can be divided into limited casco and full casco (all-risk).
We explain both further for you:
- Limited casco: this covers damage from events such as theft, fire, or storm damage.
- Fully comprehensive: you are insured against damage caused by your own fault, such as in a collision or collision.
Do you depend on your vehicles for daily activities?
Such as deliveries or service visits?
Then all-risk insurance is often a wise choice.
It ensures that you can recover quickly from damage.
But also that you can continue your activities without long downtime.
Consider occupant and driver coverage
Driver and passenger safety is another important consideration when choosing commercial vehicle insurance.
Do you choose occupant insurance?
This provides coverage for:
- Medical expenses
- Damages
- Any legal fees
This type of coverage can be especially important for companies that regularly transport employees in the company vehicle.
You can think of cab or courier services.
It ensures that your employees are well protected.
Not only does this ensure their safety, it also benefits your company’s reputation.
Have you heard of legal aid and legal coverage?
Are you facing a legal dispute after a traffic accident?
Then having legal expenses insurance for your business vehicle is a real must.
This coverage provides legal support and advice during this turbulent time.
This applies to both plaintiff and defender.
This can cover legal costs such as:
- Attorney fees
- Court costs
It provides the necessary support in recovering damages from the other party.
For businesses, this is important.
This is because legal proceedings can be time-consuming and costly.
Think once about roadside assistance and replacement transportation
Roadside assistance is an additional coverage often offered with commercial vehicle insurance policies.
It provides immediate assistance in case of mechanical problems, tire failure.
But you can also think about other unforeseen problems on the road.
As a business, do you depend on your vehicles for their daily tasks?
Then this coverage can be crucial to ensure minimal downtime.
Also, consider the option of replacement transportation so that your business can continue to function even when your company vehicle is under repair.