Advice & Tips

Things To Look For In A Commercial Truck Insurance

Vehicle insurance is indispensable for every owner or operator of a commercial automobile. It is important for a vehicle owner to be able to compete effectively with others in the cutthroat transportation business by negotiating favorable insurance premiums for his commercial vehicle.

Maybe the driver travels alone during long journeys or prefers keeping the company of his spouse during such trips. The driver may be the proprietor of the commercial vehicle or he may have leased it. Probably, a business person manages a fleet of commercial trucks. Whatever the circumstances, it is prudent and essential to have an indemnity cover for a commercial vehicle.

When looking for such a cover, it is necessary to contemplate on the following features and requirements of the cover for it to be effective and useful.

  • First, It is imperative to get protection from a credible and financially stable company. This gives confidence and assurance that the company will compensate you in case of an accident that results in a financial loss.
  • Moreover, you also need to get a comprehensive cover for protection against losses such as theft, fire, vandalism, lightning, windstorm, animals and damage by low hanging tree branches. The commercial vehicle owner should not limit his cover to collision coverage only.
  • The policy must also cover the cost of replacing personal property that may be stolen, or damaged while inside the vehicle. Needless to say, it is important to protect the automobile from being broken in to by using secure locks.
  • Additionally, it is vital to have an automobile collision coverage in place. This safeguard is helpful in case of a collision with a tree or a building.
  • It is also wise to have a vehicle replacement cost coverage for a commercial motor vehicle. This cover enables a policyholder to replace his vehicle with a new and similar automobile in case of an accident that seriously damages the commercial vehicle.
  • Personal accident liability cover is another crucial component of a commercial vehicle indemnity. It is very important to buy the personal accident cover because it protects the driver if he gets injured while driving the vehicle.
  • Moreover, the equipment coverage aspect should never be overlooked. A good van protection policy should also cover the accessories or components of the vehicle such as wheels, lights, customized paint, toolkits, and spare wheels.
  • Non-trucking liability is another essential component of a good automobile protection policy. This cover protects the driver in case he gets injured in an accident while off duty but using the commercial vehicle for other purposes such as a leisurely drive.
  • It is also absolutely essential to ensure that the van indemnity cover protects the goods being transported from probable damage such as breakage through an accidental collision. This is called motor van cargo legal liability cover.
  • Trailer interchange agreement is also a vital ingredient of a commercial motor vehicle indemnity cover. This agreement allows the driver to legally transfer a trailer from one van to another in order to complete a shipment.
  • Furthermore, it is imperative for an automobile protection policy to have a trailer interchange coverage. This protects the driver when he is in possession of a container or a trailer that does not belong to the vehicle owner.
  • Refrigeration breakdown endorsement is another necessary component of an automobile protection policy. This indemnifies the vehicle owner incase perishable goods that are being transported such as flowers or vegetables get damaged due to a refrigeration failure.
  • Third party coverage should also be factored in a van indemnity cover. If the vehicle is transporting goods using a trailer that does not belong to the van owner, this coverage protects the owner in case of an accident to or theft of the third party trailer.
  • Any valuable vehicle policy should also include an emergency expenses coverage. This cover compensates the van driver for accommodation and travel expenses incurred while getting back to his house after being involved in a road accident.
  • In addition to the above, any decent vehicle indemnity should also cover the cost of towing and roadside assistance such as tire changing or fuel delivery.
  • Moreover, any worthwhile automobile protection policy must have an occupational accident coverage provision. This cover provides a vital safeguard to the van in case it is involved in an accident while transporting a client’s goods.

In order to acquire an adequate van indemnity cover, it is necessary to provide truthful and detailed data to the assurance company. For instance it is necesssary to declare the personal information of the van driver, the list of equipment in the vehicle, and details pertaining to the automobile such as the make, year of manufacture, and its monetary value.

Some assurance companies provide various discounts such as a safety course and a renewal discount for maintaining the vehicle indemnity cover.

If the components discussed above are incorporated in a van protection cover, then the vehicle owner is guaranteed peace of mind and a decent return on investment. After all, wise people say that it is always better to be safe than sorry.

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