Running a commercial vehicle business can be a tricky thing. You need to make sure that your interests are properly protected, because if anything were to go wrong you’d have to fix it out of your own pocket. It’s your livelihood on the line, which unfortunately may make commercial vehicle insurance an essential purchase.
This type of insurance is there to protect your business as well as anyone else on the road. You need to protect your vehicle in the case of any theft, vandalism, accident or other damage, but you need to make sure that you’re not liable should your vehicle injure someone else in the course of its duties. That’s why third party cover is the least you should be looking for, but it’s always best to go for more comprehensive options – you wouldn’t want to lose out financially should the worst happen.
Never underestimate the importance of getting a decent quote. You always need to compare several options, and the quote that you’re offered will usually come down to several things including the value of your vehicle, its business use, the type of goods you’re transporting, the amount of time that you’re on the road and a whole range of related aspects, so always have this information to hand when you approach potential insurers.
Price will unfortunately be a major consideration for this type of insurance, and there’s no denying that it could well be more expensive than insurance for private vehicles. This is often down to the simple fact that you’re on the road for longer and are therefore deemed to be a higher insurance risk, but don’t use this as an excuse to skimp on cover. Of course, there are always things you can do to reduce your premiums (opt for a higher excess, cut out the added extras etc) but these days you get what you pay for, and if you want to ensure your complete protection don’t be afraid to spend a bit more.
Remember that your own particular circumstances won’t negate the need for proper insurance either. If you’re a self-employed driver you always need to make sure that you’ve got adequate insurance in place, but even if you’re in charge of a fleet don’t think that your responsibilities are lessened – you still need to make sure that all of your drivers are covered by an insurance policy, as failing to do so can have serious consequences.
So, always remember the importance of having adequate commercial vehicle insurance in place. Always get a policy that meets your precise needs and make sure to shop around, and if you do you can get on that road without a care in the world.