Planning to purchase a vehicle for commercial use? Do you have robust commercial Motor Insurance in place? A commercial vehicle plan covers the financial liability towards the driver and the victims in case of an accident. This is applicable to vans, cars, trucks, motorbikes, and any other vehicle you use for commercial purpose. Regardless of your business size, if you deal in goods manufacturing, export-import, or services delivery across different industries that involves the use of vehicles, you need a commercial motor insurance. However, it becomes a daunting task to select the insurance cover, when all service providers claim their policy to be the best. In such a situation, you must seek assistance from a reliable portal that allows you to compare motor online plans.
Who Needs Commercial Motor Insurance?
You must have insurance, if:
Your vehicle is used as a medium of transport for people or goods
Your employees operate company vehicles and your company is liable for accidental mishaps
Your vehicle transports heavy goods, equipment, or tools
Difference between Private and Commercial Insurance?
The coverage offered by private and commercial insurance is similar and includes medical, collision, and liability costs. Still, the risks associated with both are different, thus the design of these plans varies, as well. The differences lie in limits, eligibility, exclusions, and coverage. Personal vehicle insurance cover relates only to the insured individual and dependents. In a commercial scenario, the motor insurance belongs to the company and includes details of all employees who would operate the vehicles to be covered under the scheme.
Subsequently, the premiums are slightly greater in commercial vehicle insurance than private Motor Insurance. However, businesses can enjoy price reduction benefits on their policy, with lesser number of accident claims. Hire only experienced and responsible drivers to minimize the chances of damages of property and people due to accidents. A good business has an effective training program in place to ensure that their drivers are well versed with the traffic rules while out on the road.
Why Opt for Online Purchase?
When you Compare & Buy Insurance Online, you compare the benefits, price, and terms & conditions covered under the policy. Subsequently, you get maximum benefits for a low insurance premium. Now, that's what we all need, isn't it?
Pre-Requisites for Signing up Motor Insurance
Documents required for purchasing a commercial motor insurance include: vehicle registration certificate, pollution certificate, and a recent fitness test certificate. Submit a copy of these documents with receipt of road tax, driver's license, and information related to new employees.