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What to Consider When Buying Commercial Auto Insurance Buying commercial auto Insurance is inevitable once you have an automobile business. This is because one, it’s a legal necessity and two, there are bound to be accidents despite 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 choosing a commercial auto insurance to purchase, you may consider the things discussed below. The kind of coverage 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 additional coverage is included so that you understand what’s going to be covered particularly if a collision occurs. Will the insurance cover cater for the medical bills of injured persons? What about collusion liability? Buy insurance which does cater for this additional coverage.
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The payment Choices available
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Another crucial aspect to consider is the alternatives which are offered for paying for the insurance. Ask the agent if they have annual, bi-annual and monthly payment plans and how much it would cost. Normally, yearly payments are cheaper and or might have reductions while monthly would be a little bit more expensive. If you’re not able to afford the annual lump sum payment choice, then you’ll need to acquire an auto insurance company which has monthly or bi-annual programs and yet isn’t overly pricey. How many drivers and cars the commercial Car 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 cars and drivers can be insured by the given cover and then compare to get one that 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 limitations are before you make the purchase. As an example, you need to know the aggregate limitation, which is the maximum amount you may claim in a year and also the incidence limit that’s the maximum amount you can claim in one instance. Also notice the limit of what they could be used for if it is 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.