What You Should Know About Businesses This Year

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 is a legal requirement and two, there are bound to be accidents even with reduced use. You therefore need to choose and buy an insurance cover that best suits your business needs. 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 coverage 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 additional coverage is included so that you understand what’s going to be covered particularly if a collision occurs. Will the insurance cover cater for the medical bills of wounded persons? What about collusion accountability? Buy insurance that does cater for these additional coverage.
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The payment Choices available
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Another critical factor to consider is the options that 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, annual payments are cheaper and or may have discounts while monthly would be a little bit more expensive. 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 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 drivers and cars could be insured from the given cover and then compare to get one which 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 have to know what the limitations 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 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 what the car is covered for and thus it is wise to buy a suitable policy. Claim Submission Last, you also need to learn how you’ll be submitting claims. You can ask the insurance agent on tips for making the submission a smooth experience. Be sure to read understand what you may be required to perform in case of an accident.