Bought a new car and wondering what the next step should be? You should get your car insured as soon as possible before you even get it on the road. Choosing the right kind of motor insurance is very important for you and your vehicle. Motor insurance covers the financial losses incurred by the owner of the vehicle as a result of an accident, natural disaster, theft, or any other unforeseen circumstances, and so on. The insurer covers any damages to the insured vehicle, the policyholder or a third-party.
This article highlights all the benefits of getting motor fleet insurance or commercial motor insurance for your vehicle. Read on to know more.
1. Protect yourself and others –
Regardless of who is in the vehicle, an unforeseen event like an accident can happen to anyone, anywhere and anytime. One of the most important reasons to get motor fleet insurance is to protect yourself and others. You will incur a heavy expense to cover any injuries caused to yourself or another individual if you get in an accident and you don’t have reliable insurance to cover your costs. A policy ensures to cover medical expenses incurred as a result of any injury caused by an accident. The insurance company will pay all your medical bills, ranging from surgery to hospital visits.
2. Protect your vehicle –
A policy primarily acts to protect your car, bike, or other personal vehicles. Rest assured, the insurance provider will cover all the damages caused to your vehicle with a comprehensive motor fleet insurance policy. Whether you need to repair your vehicle after an accident, or it has been stolen, or has suffered any damage as a result of a natural calamity like fire and explosions. An insurance policy will ensure you do not have to bear the expenses to repair or restore your vehicle.
3. Covers third-party damages –
This is one of the most important aspects of getting motor insurance. If an accident occurs that involves a third party, be it a pedestrian, some other vehicle or somebody’s property, the insurance provider will cover your expenses to repair the damages and pay for hospital bills. Motor insurance protects your finances and reduces your liability of paying for others’ damages.
4. Covers legal costs –
Many accident victims might attempt to sue you for damages or injuries, and this is a common occurrence. A policy will protect your pocket from incurring such expenses in case you face a lawsuit due to an accident. In the event of a lawsuit, legal fees can really burn a deep hole through your wallet. A policy will take care of any significant expenses arising from a case filed against you for a road accident.
5. Purchasing vehicle insurance online is cheaper –
Policyholders can save a lot of money in the form of operational costs by buying motor insurance online. Online benefits the customers in more than one way, with the insurance companies passing it on to the customers in the form of highly competitive premiums and making it beneficial for both sides.
6. Pay premium and enjoy coverage through motor insurance –
Especially for commercial motor insurance, insurance calculators can be used to calculate the amount of premium that needs to be paid to enjoy comprehensive coverage. An insurance calculator helps you to set aside some money every month which can be paid towards the premium, especially for individuals with monthly salaries. This method is of great help during the renewal of your vehicle insurance.
7. Save time and hassle –
The consequences of an accident can be really time-consuming and tedious. An insurance cover can help you avoid negotiating with other people like drivers and property owners, in case the losses are major, along with also sparing you the time of running after repairs. Good motor insurance can save you from a lot of major tasks such as vehicle towing, repairs and replacements, and covering the costs of damages to other drivers. The insurance company can help and support you through the entire process, once you make the insurance claim. This is all the more important when you are looking for commercial motor insurance.
8. Peace of mind –
Sometimes another driver’s mistake can become your problem, no matter how big or small your mistake was. You are protected with the right type of insurance even after an accident.
9. Motor insurance supplements your health insurance –
It may also be able to pay for medical expenses such as dental work and other medical treatments required as a result of an accident, that health insurance normally won’t cover.
Vehicle insurance is also important if someone, like a friend or a family member, borrows your vehicle. Typically, the motor insurance policy covers the vehicle and the person driving it. So if you lend your vehicle to a friend, your motor insurance would cover most of the claims that could happen while someone else is driving your vehicle. Similarly, commercial motor insurance works the best when you have a fleet of vehicles being driven by several people.
Additionally, the kind of vehicle you drive affects the cost of your premiums. Some vehicles may help lower your insurance costs and others may increase the number of your premiums. Several factors like age, make and model and risk of theft also affect your commercial motor insurance premium.
All of the advantages of motor insurance can only be availed if you have a reliable insurance company. Guardsafe Insurance Broker has been offering the best and profitable insurance solutions to a variety of specialised businesses and sectors. We offer cost-effective insurance solutions across industries and sectors. Contacts with Australia’s major insurer brokers, in-depth business knowledge and the skill and experience to meet all general and special insurance needs make us the best motor insurance providers in Australia. The key speciality areas include: commercial motor insurance, motor fleet insurance, traffic control and security industry, commercial cleaners and high-risk liability solutions. We leave no stone unturned in supporting you through your journey of finding the most suitable insurance solution for your personal or commercial use.
