Have you recently started a transit business with a fleet of heavy goods vehicles and hoping for good fortune? What are your preparations to ensure success and neutralizing risk factors? Trucks are valuable properties on which your business depends entirely. If anything wrong happens to the vehicle, driver or goods, it will severely impact the business. The risk criteria is even much higher when it comes to evaluating a new business. Insurance is the only option to reduce or neutralize those risk factors. Numerous companies are offering heavy goods vehicle insurance nowadays and people hardly pay attention to the coverages and exclusions while signing the contract. If you are also among them, stay ready for expected loss without recovery protection. Below is a list of essential coverages you must ask while investing in heavy goods vehicle insurance.
Important coverages to consider
Medical coverage inclusions
Every truck insurance policy has different coverage aspects. The insurance you are buying should be enough to cover the hospital expenses of the driver, co-passengers as well as third party injured during the accident. Some insurance policies are limited to the protection of the driver or co-passenger only. It may land you in trouble while paying the medical expenses of a third party.
Legal assistants capping value
Are you getting legal assistance in case of a lawsuit or not? Don’t forget the coverage of legal assistance and also get complete information regarding the capping value. Will they arrange a lawyer or you have to make arrangements on your own. Get complete information from the terms and conditions.
Goods value claim amount
The heavy goods vehicle insurance you are buying must be covering the complete value of goods being transported. Request your insurance agent to evaluate the entire property to make sure that no problem occurs while claiming the insurance amount.
Inclusion of natural calamities
Is your truck insurance policy providing coverage from natural calamities? If yes, what are the inclusions and exclusions? The inclusions of calamities coverages vary on the basis of geographical conditions. For instance, a vehicle running in a hilly region should have insurance protection to cover the damage from landslides, hailstorm, avalanche and heavy snowfall.
Get advice from the insurance agent telephonically and book an appointment for a one-on-one meeting for better understanding. Policy comparison sites can provide you a list of credible and top trending truck insurance agencies.