Motor vehicles are utilised by a wide number of businesses in all manner of industries. They provide essential services but need to be properly insured. Each business is legally obligated to have insurance in place if they are company vehicles. If employees use their own vehicle the business must ensure the owner has suitable cover.
There are three different options for commercial vehicle insurance. The first of these is third party and it is the absolute minimum amount of cover that is legally acceptable. This type of policy will protect against injuries to members of the general public and damage to vehicles.
The second option is third party plus fire and theft. This offers everything that the first provides with added protection in case the vehicle is damaged by fire or stolen. The additional coverage can prove to be very valuable.
The third and final type of policy you can choose is comprehensive. This is the highest level of protection and offers the best coverage. It includes everything from the first two options as well as cover for medical expenses, accidental damage, and the cost of replacing the contents of the vehicle if they are stolen or damaged.
You can choose specialist policies if you use vehicles for specific purposes such as a taxi or courier service. Again it is vital you choose the right coverage for your needs.