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What to Consider When Purchasing Commercial Car Insurance Buying commercial auto Insurance is inevitable once you have 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 many things including liability for bodily injury, cost of loading and unloading, medical and funeral expenses, and property damage liability among 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 broker 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 wounded persons? What about collusion accountability? Purchase insurance which does cater for all these additional coverage.
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The payment Choices available
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Another crucial aspect to consider is the alternatives which are offered for paying for the insurance. Ask the broker if they have yearly, bi-annual and monthly payment plans and just how much it might cost. Normally, yearly payments are cheaper and or might have reductions 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 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 notice the limit of what they could be used for when it’s covered by a specified 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.