Running a car dealership your business is associated with vehicle therefore you need proper protection for them. The most common protection available and necessary for such business is commercial auto insurance. Driving on behalf of a company, as a driver you will this protection.
Risks Associated with Commercial Driving:
Every business is subjected to risk and when your business is associated with cars then the risk of loss due to accidents, theft or other hazards is very high. by getting yourself associated with an Insurance Company London service provider you would get the appropriate coverage for your business. Being a car dealer getting insurance is not like buying any policy. Personal car insurance would not cover any damage caused to a vehicle being commercially used. That is why you need commercial driving insurance. Moreover, your car is on the road the risk of third-party damage and lawsuits associated with it can cause your business a lot of financial loss.
The Right Coverage:
Deciding the right coverage can be a difficult task especially if you are buying commercial auto insurance for the first time. Being an auto car dealer, you can get commercial insurance in a couple of ways. The first is the dealer's open lot of coverage that will cover the vehicles that you are trying to sell. This normally includes two different types of coverage known as collision and comprehensive insurance.
Collision Insurance:
Accidents are bound to happen no matter how careful you are it would still occur. Therefore, this coverage would protect your car from every type of damage caused by the collision of the vehicle. It doesn’t matter is your employee is driving the car or a customer has taken It out on the test drive. It would cover all the maintenance cost and the damage occurred to the car.
Comprehensive Insurance:
A vehicle doesn’t only have a risk of getting in an accident there are a lot of other things that could cause a loss to your vehicle. Comprehensive insurance is that coverage that protects your cars from damage caused other than a collision. The damage to the vehicle might be due to a fire, hailstorm, theft, vandalism and many more. Therefore, you need this coverage to make your vehicle fleet much safer.
Additional Coverage:
The above-mentioned coverage only protects your car when physical damage has occurred. However, your cars are not fully protected by only these types of coverage. You will need some additional covers to make your business completely secure. By talking to the Insurance Company London service providers, you could add such additional coverage. They will not only guide you about the additional possible covers but also suggest some to you. Whereas some additional covers that are a must-have are discussed ahead.
Liability Insurance:
As discussed ahead accidents are bound to happen no matter what. Therefore, the insurance company would cover the damage caused to your car, but you need to pay for the damage caused to the other party. If the insured driver is at mistake, then this liability insurance will pay the complete amount to the third party. This coverage is very important for garage owners as it protects them from different lawsuits and covers their general liabilities.
Uninsured Motorist Coverage:
There might be a driver that could cause damage to one of your vehicles. This coverage would help you to pay for the damage that you have caused on your own. If the driver that was driving the car doesn’t have the necessary liability insurance.
Other than all the coverage mentioned above there much additional coverage that could make your business fully secure. Therefore, is would recommend you get in touch with Cubit Insurance for more details.
Genre: BUSINESS & ECONOMICS / General