Some Guidelines On Commercial Van Insurance

2007-03-08 10:33:40

( Insurance )



Commercial van insurance protects your vehicle and other parties against any bodily injury to your driver or caused to another party including lost wages, the payment of all medical expenses regardless of accountability (up to a specified limit) and any damages done to your van, third-party vehicles, or properties within a defined limit. A commercial van insurance policy also protects your goods from fire, damages and theft, as well as from any accidents involving parties who are either underinsured or uninsured.

A commercial vehicle insurance, which includes coverage for vans, can insure a single person, or a fleet of drivers. Some insurance companies do not offer coverage for some types of businesses or cargo, so it is best to check with your insurer before signing the agreement.

The cost of the premium of a commercial van insurance policy differs greatly from a private vehicle policy because vans have a higher risk of getting into accidents than cars due to its size and weight.

Using a commercial vehicle insurance broker is ideal in order to get the best commercial van insurance policy, because discounted premiums can be obtained. Brokers can also recommend the most appropriate insurance policy coverage for your van.

In determining the cost of premium for a commercial van insurance policy, the insurer will consider the size and nature of the goods that will be carried: higher premiums are charged for more hazardous cargo. Other considerations include the van’s maximum load capacity, the possible use of any special equipment to load and unload your cargo and the ownership of the cargo. The van’s security is another factor that will influence the cost of your van’s premium. If you install anti-theft devices such as a vehicle alarm, a lockable gas and tire caps, your premiums can be lowered.

In order to get the most accurate insurance quote, you must provide your broker with certain information on your vehicle such as the model, brand, age and its maximum capacity. The current value of your van and the date of your last registration will also be helpful. The personal and driving details of each driver, the type of coverage you are opting for and the maximum amount you wish to pay when a claim is made, are also important information which you must pass on to your broker.


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