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Commercial Car Insurance

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What is Commercial Vehicle Insurance?

Commercial Car Insurance

Commercial car insurance is a type of policy designed specifically for vehicles used primarily for business purposes. It provides coverage not just for the business aspects, but also allows for personal use of the vehicle.

What Can Commercial Car Insurance Cover?

Collision Damage

Repair or replacement costs if your business vehicle gets damaged in an accident.

Liability Coverage

If your vehicle causes damage or injury to others, this coverage will handle the associated costs.

Medical Payments

Covers medical expenses for injuries sustained in an accident involving your business vehicle.

Theft and Vandalism

Provides compensation if your vehicle is stolen or vandalized.

Equipment and Tools

Coverage for business tools or equipment that might be in the vehicle.

Personal Use

As mentioned, it's not solely for business use. It covers the vehicle even when used for personal activities.

How Does Commercial Car Insurance Work?

  • Policy Selection: Choose a policy that aligns with your business needs. The level of coverage can vary. At Gerrards, we assist in streamlining this process, helping you find the best policy tailored to your needs.

  • Premium Payments: Premiums are typically paid monthly or annually, and the cost can depend on factors like vehicle type, its use, and driving history.

  • Claims: In the event of an incident, you submit a claim. The insurance company then assesses and compensates for the damages based on the policy. Gerrards stands with you during this crucial time, helping to arrange the claims and ensuring you get a fair settlement.

Why is Commercial Car Insurance Important?

  • Financial Safety: Accidents or thefts can result in significant losses. Commercial insurance safeguards against these unforeseen expenses.

  • Protects Reputation: In case of an accident, being adequately insured shows professionalism and can preserve your business’s reputation.

  • Business Stability: Unexpected vehicle-related costs can destabilize a business. Insurance ensures such costs don’t impact operations.

What are the advantages and disadvantages of Commercial Car Insurance?

  • Comprehensive Coverage: Protects against a broader range of risks than personal car insurance.
  • Business Continuity: Ensures your business isn’t disrupted due to vehicle-related incidents.
  • Peace of Mind: Knowing your assets are well protected.
  • Higher Premiums: Might be costlier than personal car insurance due to extended coverage.
  • Complexity: Can be more intricate to understand all the inclusions and exclusions.

Common misunderstandings

  • “My Personal Car Insurance is Enough”: Personal policies might not cover business-related incidents.

  • “It’s Only for Large Businesses”: Even small businesses or freelancers using a vehicle for work might need it.

  • “All Commercial Policies are the Same”: They can vary vastly in coverage and cost.

How can Gerrards help?

At Gerrards, we specialize in business insurance in New Zealand. We offer:

  • Expert Guidance: Our team can guide you to choose the right commercial car insurance tailored to your business.

  • Comprehensive Coverage Options: As a broker, we offer policies that cover a wide range of business needs.

  • Claim Support: We’re here to assist and make the claim process smoother should you need it.

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