commercial vehicle insurance
commercial vehicle insurance It might just be an accidental choice of words so pardon me for wondering but I shall attempt to address
it in the manner which it is most professionally informative & not with any suggestion or intention of being utterly precise or all-encompassing.
The rationale underlying the caution of my response is that the wording is a legal trap for one providing an answer.
Let me try to provide an analogy:
A farmer is looking to purchase liability insurance to protect himself from liability arising from an injury which might occur from a needle in the haystacks he sells to the public as feed for their cattle. A local Ag Insurance Guy (AIG) – pun intended! – sells him a policy, issued by for $50 per year.
Is there a limit on the TOTAL amount of money paid for all the dead cattle?
Does the claimant who purchased the BS insurance need to provide evidence of the needles which “allegedly” caused the unfortunate demise of a steer, the herd?
Does the coverage provide the farmer with protection for the mental torture & financial ruin the death of the herd caused to the owner who bought the insurance?
If any of these answers were not addressed in the policy covering the haystack needle insurance, then the agent (& the BS Ins. Co.*) might be in for a lot more than they bargained for when this claim enters the legal arena of the local courts in the pursuit of the settlement.
Now, back to your question –
Understanding that i’ll simply give an outline, a general description of commercial vehicle insurance coverage, please do not assume that I even suggest that my description informs you any more than your search for needles in a haystack would assist you in your search for protecting your cattle to be hauled to market in your commercial vehicle.
In general terms commercial
vehicle insurance resembles personal motorcar insurance with several very little major exceptions. You can purchase liability protection to protect you to the limits you purchase which will provide coverage for the injury you cause or for which you are held responsible as a result of the insured commercial vehicle.
You can additionally purchase coverage, similarly, for the property damage, you cause. You may purchase Uninsured/Underinsured Motorist liability & Property Damage coverages as well.
You may additionally want to guard your vehicle against physical harm & purchase Collision & Comprhehensive coverage, as well.
Towing is additionally associate on the market coverage, as is coverage to provide a replacement vehicle for your vehicle while it is being repaired after a covered accident or while a total loss is being determined after sucha a covered loss.
Replacement of your damaged vehicle may be vital to the continuation of your business!
Unlike most personal motorcar insurance policies, commercial coverage is usually not subject to the “No Fault” limitations of lawsuits, therefore “PIP” or Personal Injury Protection, a.k.a. Medical/Hospitalization/Testing/Evaluation/Salary Continuation/Death profit & Pedestrian PIP Bnenfits aren’t on the market to hide business trucks. Some States do need that commercially used personal traveller autos (NOT Trucks) should be lined with PIP.
Instead of PIP, commercial truck insurance does offer for Medical Payments coverage which typically have much lower limits than found in the statutorily required PIP coverage.
Commercial coverage additionally restricts coverage to the named operators though optionally such coverage is also purchased one by one or exteneded to hide non-employees &/or members of the family United Nations agency square measure harmed in associate accidnet whereas riding within the insured business vehicle.
Commercial insurance additionally offers otional coverage to guard the owner or listed operators whereas they operate “Other Vehicles” within the course of their work vehicle once such business vehicles would possibly not bleong to the business entity, but, instead, to other registered owners.
So… in summary… business insurance for vehicles resembles, is comparable to, personal car insurance, however business insurance is considerably completely different. The somtimes large gaps in coverage when compared to private auto insurance can mostly, but not completely, be covered by the purchase of optional coverages which need serious consideration when an applicant is deciding which coverages best suit the particulars of their commercial exposure.
One must beware the needles which might be found in the haystacks of our lives, but not obsess & waste our precious lives searching for them.