Heavy commercial vehicles involve different categories of automotive including earthmovers and goods carriers. They are large in size, require more maintenance than your personal vehicle and business revenue depends on their normal working. However, worn out internal parts due to regular depreciation and road accidents are among the most frequent reasons for vehicle damage. When these situations occur, you may have to face a huge loss. It’s not just about the current money loss but also so perfect your business badly in the near future. The damaged vehicle can no more fulfil the shipping consignments. Therefore, heavy commercial vehicle insurance is necessary. Although insurance is mandatory for all vehicles you have to be more attentive while choosing it for a commercial vehicle. Here is a list of coverages you should expect from an insurance agent.
Important Coverages for Heavy Commercial Vehicle Insurance
- Loss or damage to the vehicle
When we talk about the loss or damage of a vehicle, this includes multiple conditions for a claim. Make sure that the insurance agent is providing a policy covering all potential threats. Some of the most common factors you need to consider are:-
- Theft
- Riot or strike
- Fire explosion
- Natural calamities like storm and earthquake
- Malicious acts
- Terrorist activities
For more information regarding the potential threats, you can consult with the agent thoroughly. They can suggest important coverages according to the geographical condition of your location.
- Third party liability
Third-party liability insurance covers you from damage and loss of goods being transported. From loading to unloading the cargo, a lot of complications may occur. Negligence of safety, accidental damage, loss and theft are some very common reasons that may land you in trouble.
Another major issue covered by third party liability is bodily injury or death of a person. Medical expenses and death compensation may be extremely high. Therefore, don’t forget to include it in the coverage factors.
- Towing service for a disabled vehicle
Once your vehicle gets damaged or faces malfunctioning due to an internal issue, a situation can go worse. If onsite assistance is not enough to solve the problem, you need immediate support from towing services. Ask the heavy commercial vehicle insurance agent regarding their service stations and emergency services. Both onsite service and towing must be included in their clauses of risk coverage.
If possible, get a referral from your contact list because their personal experiences are more reliable than fake advertisements.