Getting Van insurance is imperative for all vehicle owners in Ireland. Commercial vehicle insurance insures your business vehicle and your business in case an accident happens. There are two types of commercial vehicle insurance, a namely comprehensive and third party. Both of them provide different sorts of coverage. Commercial van insurance Ireland goes a long way in safeguarding your business in the event of an accident.
Several types of commercial vehicle insurance may be considered:
This type of insurance indemnifies you against claims from any third party in the event of an accident. This is often the bare minimum that is mandated by the law. It must be borne in mind that this type of insurance has several drawbacks and limitations which might leave you vulnerable to a significant loss if an accident were to happen. In case you happen to be responsible for the accident, your car, no matter how damaged will not be covered under this type of insurance. Third-party insurance will only seek to repay the passengers riding in your vehicle and the passengers as well as the driver of the other car. Further, third party insurance does not cover any damage that may be caused in the event of an accident or any damage caused by fire or by theft. These factors must be considered.
2. Fire and Theft
In this type of insurance, you are indemnified against damage that may occur in the event of the theft of the car or if any damage is caused by fire. This type of damage is often clubbed with third party insurance, thus overall providing coverage against, theft, fire and third party claims. Several other options are also available that may be added to the policy to make it more comprehensive, for example, the windscreen can be insured against breakage. This is usually the most popular type of insurance policy that people opt for.
As the name suggests, comprehensive insurance covers almost all types of damage caused by whatever reason to the vehicle, as a consequence thereof, it becomes costly. Some eventualities that the insurance covers are accidents, the loss of belongings from within the car, breakage of the windscreen and many such other eventualities. There has been a marked increase in this type of insurance owing to a large number of people investing in the new top of the line cars. It is a good idea to insure brand new cars with a comprehensive insurance policy.
With the above information, you now know the different types of commercial insurance policies that are available. Based on the type of business that you run and what your unique needs are, the right type of insurance must be opted on. The cost of the insurance will depend on several factors such as the age of the vehicle, the price of the car, the purpose for which it is used, and other such factors. Choosing the right sort of commercial vehicle insurance OR Van Insurance for your business is a crucial decision to make.