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Commercial Vehicle Insurance Essentials
Money being tight in difficult financial times, means getting the best out of any sort of insurance deal. However, the best deal has to include several important factors which is especially true of commercial vehicle insurance because if you need to make a claim, you have to be fully covered and this includes liability too.
Look For the Best Insurance Deals Offering The Right Cover
Choosing the right commercial vehicle insurance can seem like a daunting task with many offers out there to choose from. If your business relies on a fleet of vans being on the road, then comprehensive cover is essential. Should a van be involved in an accident, you need to have the reassurance of a replacement van being at your disposal as quickly as possible to keep your business on track.
Other benefits that come with comprehensive van insurance can also include the following:
- New for old replacement cover on vehicles
- Windscreen and window cover
- A certain amount of EU travel included in the package
- Personal belongings cover
- Cover for audio equipment, Sat Nav and any other tech equipment carried in the van
- Repair/replacement of keys and locks
- Medical expenses
- Personal injury cover
More Specialist Commercial Vehicle Insurance
Should your insurance requirements be more specialised, namely you need haulage or motor trader insurance cover which includes goods in transit insurance, then you need to make sure the company you select offers tailored packages to suit your needs, and this includes cover to not only protect your vehicles but liability too.
The insurance company should be able to offer cover on a range of commercial vehicles which includes vans, trucks, tippers, concrete mixers as well as plant haulage and they need to be a well established firm with a solid reputation both in the UK and Internationally.
A business that runs more than four vehicles would benefit from taking out a commercial fleet policy. These can be tailored to suit specific insurance needs all under one convenient policy and should cover cars, vans, agricultural and plant vehicles.
HGV Insurance – Vehicle
Self-employed HGV drivers can take out commercial insurance which should include the following:
- Emergency medical costs
- Windscreen & window repairs
- European breakdown cover
- A good policy should allow for up to five heavy goods vehicles to be included in the package
Hauliers’ Insurance Deals – Liability
Any business that allows visitors on-site or has their vehicles on the road commercially, is liable for injury as well as property damage which may have been caused to any member of the public by one of its employees. If this is the case with your business, you would need to take out public liability, employers’ liability as well as cover for goods in transit.
Goods in Transit
You can decide on the level of cover you would need for the type of goods you normally carry. The policy should protect you from damage, loss, theft and should cover any damage caused to tarpaulins, ropes, driver’s effects and containers.
Should you allow visitors onto your site or if you or your employees visit other sites, you would need to take out public liability cover so if an accident occurs
involving one of your vehicles, you have the peace of mind of being covered for any personal injury claims or property damage that may taken out against you or your business. You do have a choice of including Public Liability in a hauliers commercial insurance package or you could decide to set it in place as a standalone policy.
If you employ staff, by law you would need to take out employers’ liability which covers any costs you may face in a work-related claim for injury or illness. Again, the cover can be included in a hauliers package or you may think it better to set it up as a standalone policy.
Getting it right in the first place takes a lot of stress out of having to make an insurance claim further down the line only to find you’re commercial vehicle insurance doesn’t cover all you thought it did. A little research and choosing a well established insurance company, ensures you make an informed decision on the type of cover you take out on your vehicles. It allows you to have the peace of mind that should any sort of accident occur, you are fully covered.