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What 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 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 broker questions regarding what policy you will receive using a given commercial car 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 critical factor to consider is the options that are available for paying for the insurance. Ask the agent if they have yearly, bi-annual and monthly payment programs and just how much it might cost. Usually, yearly payments are more economical and or might have reductions while monthly would be a little bit more costly. If you are not able to afford the annual lump sum payment option, then you will need to get an auto insurance company that has monthly or bi-annual plans and yet is not too expensive. How many drivers and cars the commercial Car 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 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 Last, you also need to learn how you’ll be submitting claims. You can ask the insurance agent on tips for making the entry a Smooth encounter. Be sure to read understand what you may be required to perform in case of an accident.