Commercial Vehicle Insurance
Regardless of the vehicle, you are driving, you will definitely need insurance. Driving can look easy, but at the end of the day, it can be one of the most dangerous or risky activities you can engage in. After all, accidents happen every day, and you never know when you will become the victim of one.
Anyone who drives on a regular basis should be covered because they are taking a risk every single day. This is true for both personal vehicles and those that are for commercial use. If you own a business that requires a vehicle, you are going to need something to protect you. Whether you get in an accident, the car is stolen or otherwise damaged, you need to have the appropriate kind of coverage that will ensure payment for damages to other people’s property or liability
What does Commercial Vehicle Insurance entail?
Essentially, Commercial Vehicle Insurance is there to protect your business from possible liability that arises from property damage, but also from losses like theft and damage to the vehicles as a result of accidents, etc. Especially when you’re running business-owning several different cars, it is of vital importance that you have the peace of mind. All your vehicles must be covered and protected in case of a worst-case scenario. You can protect yourself, your business, your property, and your employees with Commercial Vehicle Insurance.
What does Commercial Vehicle Insurance cover?
- Property damage
- Emergency repairs
- Towing costs
- Theft or damage
- Attempted theft
- Legal liability
Bluewell Insurance Brokers understands exactly how important it is for your commercial vehicles to be protected. It doesn’t matter how many vehicles you operate and whether they are trucks, bulldozers, vans, excavators, or utes. Any kind of industry and any car requires protection. You need commercial vehicles to move around in almost any industry, so if you own a business, you most likely also need cars or operating vehicles. Some of these vehicles will get used in industrial work while others will be out in the field. Especially if you have employees driving place to place or operating heavy machinery, the risks are not at all insignificant, and the responsible thing to do is make sure you have the necessary protection.
Who needs Commercial Vehicle Insurance?
Anyone who has a business that owns and uses cars is required to have this type of insurance. If you make use of vehicles registered under the company name, then you are responsible and liable for them, so you need to protect them and yourself. Vehicles are used for a variety of different activities, depending on your line of work. They can be used by travelling salespersons, but also by construction workers handling heavy materials or equipment.
But no matter what kind of business you run, what you have to know is that liability pardons no one. At any point in time, one of your vehicles may get damaged or may cause damage, and that is something you need to prepare for and set up protections for your business and your property. A car accident, for example, means damage to your car, damage to the other car, possible damage to your employee and to a third party, losses incurred by you, losses incurred by them, etc.
So many things can go wrong, and you have to prepare for every possibility. Highway accidents, work injuries, property damage, human error, and so many others. Since these are the vehicles registered under your business name, they are your responsibility and your liability. Don’t take any chances.
What do you need to know?
The first thing you need to do is check what your insurance company’s limits are. For example, some companies have a 250 km travel radius for vehicles over 2 tonnes. Meaning that in order to remain insured, you need to limit yourself to driving within that radius. Going outside the limit can result in loss of coverage or in a price hike caused by your excess.
Always tell your insurer everything they need to know. You have to offer them accurate information in order for them to be able to offer you coverage. In some instances, it can be tempting to conceal some facts, but they will be revealed in the eventuality of an insurance claim, and you might just lose coverage.
What affects the price of your Commercial Vehicle Insurance?
Just like any other kind of insurance, the cost of Commercial Vehicle Insurance depends on a number of different things:
- How many cars you are ensuring
- How dangerous the activity is
- How old the drivers are
- What kind of vehicles you are ensuring
You see, you can get insurance for your entire fleet in just one place. Then, you have all the usual things to consider in a normal insurance transaction. For example, if you have drivers that are under the age of 25, you need to let your insurance company know. Otherwise, your insurance might go up as much as $600 over the normal limit, because of “undeclared driver excess”. Of course, what you do with cars also matters. If you just drive around town selling something, for example, that’s going to cost less to insure than excavators or bulldozers. Why? Because there is a lower risk and you are less likely to be liable. When operating a bulldozer, for example, there is always a danger not only to the driver but also to third parties and property.
Bluewell Insurance Brokers has extensive experience in Commercial Vehicle Insurance, and we are happy to help you find the appropriate coverage for your business and your vehicles. Peace of mind can be bought, and it’s as simple as getting proper insurance coverage for all of your needs. Don’t take a chance when you can secure your financial future. Call us today and we will find a solution for you.