Whether you are driving your commercial car or given a third party to drive your commercial vehicle, insurance is a must-have for you since you are the one who is responsible for the vehicle. Car insurance helps to protect us from unexpected events that may happen while on the road—for example, fire, accident, theft, vandalism, etc. Car insurance is a piece of contract paper between the insurance company and the car owner. The car owner pays the premium to the insurance company. In return, the insurance company takes the liability and provides costar and injury treatment. In case of any mishap, the insurance company would provide financial assistance to the car owner.
Why do you need commercial car insurance?
Whether heading a small business or a large one, you will need commercial vehicles such as cars, vans, and trucks; all are covered under a blanket of commercial vehicles. All these vehicles should have insurance mandated by the government if used for retail logistics and transport purposes. It has become a legal requirement. Insurance provides you with financial aid when your vehicle gets damaged. The insurance also covers passengers, drivers, and their damaged properties. Insurance also supports whether the fire destroys your car, is stolen, etc. Commercial auto insurance is required for bottled and large businesses, and the type of insurance for every vehicle is also different.
Car insurance coverage
The various possible coverage by car insurance are mentioned below,
- Property damage liability- If the third party’s property is damaged, like their car. You will get the scope of this.
- Body injury liability-People who are injured during the accident can claim
- Medical payment- Through the policy, the insurer can appropriate money for covering the medical cost from an insurance agency; the same can also be claimed for those in the policy owner’s car.
- The insurance company’s comprehensive physical damage will pay you if your car gets damaged by fire, flood, and vandalism or gets stolen.
- Collision coverage- If your car hits another car or is hit by another vehicle, in both cases, the insurance company pays for damages.
What do you mean by non-trucking liability insurance?
Commercial trucks run for purposes other than regular business need to take separate Nontrucking liability insurance to cover such business trips.
Many truck drivers drive rigs when officially they are not working. Reasons can be to earn extra money or anything else. The standard truck liability insurance does not provide any coverage during this period, so now, non-liability insurance is the only option for drivers: the insurance covers personal or third-party injury and vehicle damage costs. Non-trucking liability is also known as NTL. This insurance gives you coverage when one uses the commercial auto vehicle for personal purposes.
Cost of non-trucking liability insurance
There are many factors to consider while taking the insurance; the cost is another point to check. This insurance is not as expensive as other insurance. Your premium will be decided on your past driving skill. One more thing that can affect your insurance rate that is the size of the deductible. You need to pay a high premium if the deductible is low. You can easily ask for a discount from the insurance agent. Compare the rate through various companies.
