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Does your truck insurance cover goods, staff and accidental liability along with the vehicle? If not then you might want to reconsider your Motor Vehicle Insurance.
But before that you must know how to choose the best truck insurance. There are 4 things which you must keep in mind while buying insurance for trucks. Without further ado, have a look at the below-mentioned parameter to buy the best insurance for trucks:
- Premium (Monthly Instalment)
You must realize that the price of the policy is not static and there are plenty of companies offering somewhat similar insurance policies at a varied price. You can also visit an insurance comparison website like CoverFox or Policybazaar.
As mentioned above, different companies offer different types of commercial insurance plans. Therefore, you must not hesitate while asking the agent about what all is covered in a truck insurance policy.
- Towing and labor costs
- Bodily Injury & Property damage liability
- Comprehensive & Collision coverage for damage done to your vehicles.
- Loading and unloading liability
- Non-owned or Hired Auto coverage, in case you ever need to rent a vehicle
- Payment Options
There are two payment processes that take place in an insurance policy; the insurance premium paid by the vehicle owner to the insurance company and the compensation released by the company to the owner in case of damage/theft. You must discuss the payment options with the agent for both cases.
In case of an accident, you would need your insurance to immediately disburse the amount so that the truck can be repaired and be back on business. However, it can only happen if you discuss the claim procedure forehand buying an insurance policy.
We hope that this information will help you while choosing insurance for commercial vehicles. Please visit our Help Portal for more logistics related updates.