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What to Consider When Buying Commercial Auto Insurance Buying commercial auto insurance is inevitable when you have an auto business. This is because one, it is a legal requirement and two, there are bound to be accidents even with reduced use. You therefore have to choose and buy an insurance policy cover that best fits your company requirements. 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 policy 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 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? Buy insurance which does cater for this additional coverage.
The 10 Most Unanswered Questions about Businesses
The payment Choices available
The 10 Most Unanswered Questions about Businesses
Another crucial Aspect to Consider is the alternatives which 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, yearly payments are more economical and or might have reductions while monthly would be a little bit more costly. 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 drivers and cars the commercial auto insurance covers In case youhave many cars for your business, it might be cheaper to purchase a fleet insurance than separate commercial automobile insurance for all your cars. Ask the insurance agent how many drivers and cars could be insured by the specified 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 purchasing. 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 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 exactly what the car is insured for and thus it is a good idea to purchase a suitable policy. Claim Submission Lastly, you also need to find out how you will 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.