Commercial van insurance

Commercial van insurance isn’t just for large corporations.

Small businesses are more at risk if the company can’t afford to absorb the cost of vehicle theft, damage, or an at-fault accident.

This article will discuss how commercial auto insurance works, what it covers, how much it costs, and why your small business needs it.

What is Commercial Auto Insurance?
Whether you deliver goods, transport supplies, or provide any other service for customers that you use your van to carry out, you should consider purchasing a commercial van policy from one sure insurance.

Auto insurance for the business use of your vehicle will cover you, your car, and your employees if your van is damaged.

If your van is involved in an at-fault accident, commercial van insurance will also protect you and your employees if someone is injured.

What Does Commercial Van Insurance Cover?
Although it’s mandatory for all drivers to have basic personal auto insurance and all businesses to have commercial auto insurance, the insurance policies are different.

Most commercial van insurance policies have three extra features: non-owner coverage, which covers employees driving the van, coverage for damage and theft of the equipment inside the van, and loading and unloading liability – which covers the medical expenses of the employees if they sustain injuries while loading and unloading the van.

A commercial van insurance policy will cover you and your employees when the business van is used for business purposes.

However, it will not cover commutes to and from work.

Another difference between commercial auto insurance and personal auto insurance is the payout in the event of an accident.

Usually, a personal auto policy will pay out a maximum of $500,000 – a commercial auto policy will pay out as much as $1,000,000.

Why is it More Expensive Than Personal Auto Insurance?
Although the payout is higher with a commercial auto insurance policy, the monthly payments are higher, too.

This is to protect you, your employees, and your business.

Imagine this: you’re conducting business in your car. Maybe you’re delivering goods or meeting with a client.

You have a car accident, and you’re at fault. You are responsible for paying for the bodily injuries of the other driver, as well as the damage to their car.

The injured party can file a lawsuit against your business for personal harm.

The cost of hiring a lawyer and paying for the damages can quickly become unmanageable, and your business takes the financial hit.

With thousands of people in the UK becoming injured or losing their lives in car accidents each year, this scenario is not as unlikely as you may think.

Who Needs Commercial Van Insurance?
Commercial van insurance policies are designed to protect all businesses – whether they are big or small.

However, small businesses may need this protection more.

Small businesses tend to have larger overheads, and one expensive lawsuit could be all it takes to tank them.

Ensuring your business, employees, and equipment are protected is a way to mitigate the risk.

Whether your company offers taxi or courier services, you need to insure your van to protect yourself, your employees, and your business.

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