3 Types Of Commercial Van Insurance
Insuring your properties and assets against different hazards such as fire
, theft, accidents and collisions is a smart move. Most companies in fact have some form of insurance taken out on their properties and their staff. Therefore, in the event of any hazard, the company can file claims and receive aid when they need to recoup and start all over again.
Van insurance is necessary if you own or drive a van. The purpose for which you use the van does not matter per se; only in taking out insurance covers does it really affect you. While some people own vans for their private use, others own vans for commercial purposes.
Commercial van owners and companies would do well to insure their vans against any mishap, considering the fact that the vans are their source of income and the reason the business is successful. The van insurance covers that you opt for depends on the model of the van, the purpose for which the van is used, how big the van is and how much you get around. Other factors include the gender of the driver (yes, women drive vans too, and they are increasing in number in the UK), the age and the experience.
Vans are becoming increasingly susceptible to theft these days. Considering the fact the recession is incredibly harsh on some people, it is not surprising that people often steal them for the purpose of selling them. And if you have had a van stolen before with your precious valuables in the back, you would understand that it is not a good experience.
Now, choosing to opt for commercial van insurance isn't just enough. You have got to narrow it down to your specific needs and requirements. The following are the three types of commercial van insurance you can choose from:
1.Extensive Van Insurance
This kind of insurance covers every possible risk that your van is likely to undergo. The package is comprehensive, and should be your first choice if you have not had van insurance for any of your vans. It covers things like the driver's or occupants' death or injury in an accident, the damage done to a third party property, damages, and in some cases, the van is replaced.
2.Third Party Fire and Theft Van Insurance (TPFT)
This kind of insurance basically covers all events such as fires, accidents, and theft. While it is full in its coverage, it is not as comprehensive as an extensive van insurance. You are not likely to get any benefits if your van runs into another uninsured car. The reason for the damage is also a crucial factor in awarding claims.
3.Third Party Insurance
This is the most common form of insurance. In this case, insurance claims can be filed by the injured party. This type of insurance is mostly obtained by people who think their vans are not worth being insured. So, they do it just to keep on the good side of the law.
by: Paul Headley
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