Commercial Vehicle Insurance – what you need to know.

Having a Commercial Vehicle Insurance policy, rather than standard car insurance, is crucial to ensuring that you are adequately covered when using a vehicle, or mini fleet, for your business.

Polished Insurance can provide Commercial Vehicle Insurance for all sizes of commercial vehicles, from a small van, a 35-ton Heavy Goods Vehicle, through to a mini-fleet.

Why do I need Commercial Vehicle Insurance?

Commercial Vehicle Insurance is so-called for a reason – it provides cover for use of a vehicle whilst working. Yes, the cost of the premiums may be a little higher than standard car insurance which only covers domestic use and commuting. However, if you have an accident whilst carrying out work duties, and you do not have Commercial Vehicle Insurance, you will not be covered.

With the right Commercial Vehicle Insurance, you can also change drivers of your vehicles without concern that their individual cover may not be adequate.

Commercial Vehicle Insurance at Polished Insurance

Polished Insurance offer a comprehensive range of Commercial Vehicle Insurance policies to suit the varying needs of businesses. We have access to a panel of insurers that offer competitive premiums and we provide excellent service when a claim is made.

How does Commercial Vehicle Insurance work if I have a fleet of vehicles?

If you have a fleet of vehicles, there are additional aspects of your policy that you should consider:

  • There are various fleet options available such as mini fleet, chauffeur fleet, HGV fleet and courier fleet.
  • For a mini fleet, which is for two vehicles or more, you earn a mini fleet bonus which is based on all the vehicles in the fleet, so an accident involving just one vehicle is unlikely to affect the overall No Claims Bonus.
  • Premium prices are more competitive
  • There is just one renewal date to remember

How does Commercial Vehicle Insurance work if I have equipment fixed to my vehicle?

For companies transporting water tanks in commercial vehicles, the majority of insurers will only cover the vehicle so the tank is not covered, whereas at Polished Insurance we have policies available that will cover this.

Additionally, by insuring tools and water feed poles you have the peace of mind that both the vehicle and the equipment inside it are fully covered.

Also, many insurance companies will not insure commercial vehicles where modifications have been fitted, Polished Insurance will provide cover for this.

Polished Insurance’s top tips for purchasing Commercial Vehicle Insurance

  • Don’t compromise adequate commercial cover for a cheaper standard premium just to tick the legality box, you may pay out considerably more in the long run.
  • Be honest in your requirements and disclosures. It could affect your premium if you do not demonstrate total honesty. Disclosure of all relevant information is crucial.
  • Your claim could be void if you have failed to disclose all previous claims, even if accidents pertaining to those claims were not your fault. There seems to be a common misconception that if an accident wasn’t your fault, it doesn’t count!
  • Fire and theft, accidental damage and windscreen cover are all standard. Cover for any additional elements such as personal possessions and audio will be quoted on top of the standard cover.
  • Commercial Vehicle Insurance can be purchased for named drivers or for any driver over the age of 25. Some policies will also consider younger drivers.
  • Drivers need to be experienced, usually with at least 12 months’ driving history, otherwise there will be an increased premium and excess policy.

For more information on how Polished Insurance can insure your commercial vehicle or mini-fleet, contact us on 01942 403370 or at help@polished-insurance.co.uk