Buying commercial auto Insurance is inevitable once you have an automobile business. This is because one, it is a legal requirement and two, there are bound to be accidents even with low use. You therefore need to choose and buy an insurance cover that best suits your business needs. Auto insurance such as from http://cciiagency.com/about-us/ may cover several things such as liability for bodily injury, cost of unloading and loading, funeral and medical costs, and property damage liability amongst others. When picking a commercial automobile insurance to buy, you might think the things discussed below.
The kind of policy you need
It is important to ask the Insurance broker questions regarding what coverage you will receive with a given commercial auto insurance. Ask them what extra coverage is included so that you understand what will be covered particularly if an accident happens. Will the insurance cover cater for the medical bills of injured persons? What about collusion liability? Buy insurance that does cater for these additional coverage.
The payment Choices available
Another critical factor to consider is the options that are available for paying for the insurance. Ask the broker if they have yearly, bi-annual and monthly payment plans and just how much it might cost. Usually, yearly payments are more economical and or might have reductions while monthly would be a little bit more costly. If you're not able to afford the annual lump sum payment choice, then you'll need to acquire an auto insurance company which has monthly or bi-annual programs and yet isn't overly pricey.
If you have many cars for your business, it may be cheaper to buy a fleet insurance than separate commercial auto insurance for each of your cars. Ask the insurance agent how many drivers and cars could be insured from the given cover and then compare to get one which has the best offer.
Policy significance for using the automobile for commercial purposes
Also, make sure that you know the definition of the policy you are buying. You have to know what the limits are before you make the purchase. For instance, you need to know the aggregate limit, which is the maximum amount you can claim in a year and the occurrence limit which is the maximum amount you can claim in one instance. Also notice the limit of what they could be used for when it's covered by a specified insurance. Most insurance covers will have a definition of exactly what the car is insured for and thus it's a good idea to purchase a suitable policy.
Lastly, you also need to find out how you will be submitting claims. You can request the insurance broker on hints for making the entry a smooth encounter. Be sure to read understand what you may be required to perform in case of an accident.