Commercial Motor Insurance
Commercial motor insurance covers vehicles used for business purposes, making it relevant insurance for haulier, courier, postal, delivery, logistics, and other general business companies. Commercial motor insurance is bespoke cover designed for customers that require insurance for high mileage vehicles, goods carrying vehicles, equipment carrying vehicles and general commercial undertakings. Unlike personal motor insurance, this type of specialist insurance offers bespoke characteristics that ensure businesses can financially underwrite their commercial activities. Look for commercial motor insurance.
Businesses that transport goods on the roads or offer mobile services need specialist cover that insures their loads and ensures that their vehicles spend as little time off the road as possible. After all, time is money, and time spent with your commercial vehicle in the garage or broken down on the roadside is time spent not earning. With these specialist needs in mind, dedicated commercial motor insurance providers offer unique policies designed to satisfy the demands of business.
More and more mainstream motor insurance providers are entering the commercial motor insurance sector and, as a result of the greater competition within the market, policies are offering more coverage options, while premiums are falling. When selecting commercial motor insurance customers should first identify which sector their vehicle falls within. Most van insurance providers offer courier, small van and large van (such as a Transit) cover. While hauliers and large logistics firms are also catered for. In general, insurers divide commercial vehicles into three distinct groups: under 3.5 tonnes; 3.5 to 7 tonnes; and over 7 tonnes. Premiums are related to vehicle size and use, so customers should ensure that they have the right coverage for their particular vehicle and its use.
Because commercial vehicles are vital business tools, customers should seek motor insurance that provides quick and comprehensive vehicle repairs, while businesses should also ensure that all potential liabilities of their operation are covered.
Commercial motor insurers also offer commercially sensitive add-ons, such as goods in transit insurance, tools cover and public and employer's liability insurance. Goods in transit insurance provides cover for the loss of merchandise, whether it is due to spoiling or theft, while it is contained in the insured vehicle. This insurance is a valuable addition for any vehicle operating company but is of particular value to the self-employed or courier sector, which are likely to be carrying goods belonging to a third party.
In a similar vein, tool coverage protects the vehicle user from the loss of their tools when taken from their locked vehicle. Liability insurance covers vehicle owners against accidents and losses related to the use of the vehicle. This can include personal injury to an employee using the vehicle to property damage involving the vehicle. Check out commercial motor insurance with additional cover.
Furthermore, commercial motor insurance customers should also strongly consider policies that offer breakdown cover. As commercial vehicles clock up the miles rapidly, wear and tear and eventual breakdown is a real problem, so securing the right support to get your vehicle back on the road quickly is a crucial requirement. Look for commercial motor insurance with breakdown cover.
Finally, commercial motor insurance customers should seek out providers that offer replacement vehicles and free additional European cover. Most commercial motor insurance companies now offer these additional features, so make sure you do not miss out on maximising your cover.