Vehicle Insurance - Essential to Protect Businesses

Posted by akanshasingh on February 14th, 2017

Vehicle Insurance is usually identical with car insurance. It also refers to insurance of motorcycles, motor boats and other motor vehicles. It is designed to cover damages to the insured vehicles. These damages may be the result of an accident, fire, theft or third party property damage. It is essential to cover the cars, trucks, and vans used in conducting your business. In general, if a vehicle is used in tasks connected to the operator's job, profession or business, other than commuting, a commercial policy is necessary. It is critically essential that all businesses take out this cover as it is unlikely that your normal motor policy will cover business usage.

A motor vehicle policy must have competitive characteristics and low premiums. Aside from the common motor Vehicle Insurance policies, most insurance companies give you the choice to decide from a variety of policies that can suit you needs and maximize your savings. The majority insurance companies provide the insured with many options and three levels of cover which are inclusive insurance cover, fire, theft and third party insurance cover and third party insurance cover. The premium to be paid can be custom-made to suit the insured's needs and can be paid monthly or yearly. You must read your policy and the timetable and make sure that you plainly comprehend the terms and conditions, and any exclusion clauses.

The best way to trim down premium costs on a continuing basis is to avoid claims. As is the case with all insurance protection, insurers base much of premium costs on the amount of risk for claim by the insured. Lots of commercial insurers offer discounts anywhere from 20-60% for no claims over time.

One more significant feature that has an effect on premium costs is the number of drivers covered by the policy. Some businesses have several drivers of their vehicles, but if a business can limit the amount of drivers of a specific vehicle, an insurer often offers huge discounts if it only has to cover a small number of drivers.

Your Vehicle Insurance policies have to include the use of your vehicle for business reasons. Product or service liability insurance: protects you in the event you are sued by a customer/client for non-performance of an agreement or a product and any legal responsibility arising from the non-performance. General liability: covers injury to clients and employees on your premises or somewhere else, either in the performance of duties for the company or involving activities of the company. Contents insurance: whether your office is in your home or in another place, this insurance covers damage, loss or thievery of property.

Article Source: http://EzineArticles.com/2455934