If you are a start up company in the motor trade business then you may get allured towards lower cost premium. It is very much possible that you get a good deal too, but try to ensure the policy that took has a viable cover according to your needs and requirements.
Because at the time of claim the policy, you bought will be a waste if it cannot serve its purpose when required.
What factors do covers:
- Road Risks: This is the most common and the crucial risk because of which all the business owners always face insecurity. It is majorly relevant to those companies who employ drivers. In Road risk policy, you can choose between comprehensive cover, third party, third party fire and theft. The Business owner or the trade owner should always go for fully comprehensive cover because it covers all the risks associated with your vehicles.
- Employers Liability: If you are a business owner then you should buy this insurance for your employees. This will cover if your employees met an accident at work premises. This policy covers all types of employees, whether full-time, part-time contract, temporary and permanent employees. The Owner should take the responsibility to create a healthy and sustainable environment at the work place.
- Material and Property Damage: This type of insurance covers all the assets or property of business like tools, equipments everything. It covers the vehicle in the premises as well as outside too. Some insurance companies even provide you the cover if your vehicles are running overseas in your business conjunction.
Always try to take an expert advice before buying an insurance and do analyze the policy benefits according to your liabilities. So, that if required the policy gives us the returns when needed.