Insuring Your Commercial Vehicle

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Posted by peter88 from the Automotive category at 05 Aug 2011 01:13:29 pm.
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Insuring a commercial vehicle is much like insuring a private vehicle, only on a larger scale. Commercial insurance can be more costly than personal insurance, and selecting a company to handle your business requires much of the same comparison work as shopping for an individual policy.

There are different levels of coverage with auto insurance, and company owners responsible for the safety and financial security of employees and company equipment will have to find a policy that offers the best marriage of coverage and affordability.

Insurance companies classify "commercial usage" according to different criteria. Therefore, a thorough overview of a company's policy is in order to ensure that the coverage needed will be provided. Talk with an agent about how the vehicle will be used -- be it flower deliveries or simply hauling landscaping equipment -- to get an idea of what coverage will be needed.

Because commercial coverage can be costly, especially if a business owner is insuring an entire fleet of vans or trucks, there are ways to reduce the rates. Consider a higher deductible, which is the money that has to be paid out of pocket before the insurance company covers a claim. This can help reduce the overall rate. It is probably safer to avoid the discount plans to simply save money. While they may be cheaper, it could end up costing a business owner in the long run if a particular accident is not covered by a discount plan.
Those who simply want to get on the road legally and affordably could consider liability insurance, which generally offers the basic level of coverage. But again, talking with an agent will help uncover whether this insurance will be adequate for the type of business conducted.
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