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.
http://www.sooperarticles.com/finance-articles/insurance-articles/motor-insurance-commercial-vehicle-explained-1456916.html
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