What does the all-risk cover for commercial motor insurance mean?
All-risk business insurance is the most comprehensive insurance. This type of insurance is the most obvious choice for new and young company cars with a high daily value. When buying a new company car, the all-risk cover is a must.
The description "all risks" indicates that the company car insurance offers a wide coverage. Of course, the cover in this insurance is not as broad as the name suggests. There is no cover for drink-driving or deliberately caused damage. However, in comparison with WA + limited hull and WA company car insurance, the coverage can be called very broad.
What cover does all-risk commercial motor insurance offer?
The standard cover in all forms of insurance is civil liability insurance. If damage is caused by the insured motor vehicle, the insurer will compensate the other party. In addition to damage caused by liability, the WA + limited hull insurance also pays out for damage caused by fire, theft and broken windows, for example. The all-risk business insurance also offers this coverage. The added value is the insurance against damage to your car itself. This can be caused by a collision, but the insurer also offers coverage for damage caused by vandalism.
When to choose the all-risk business insurance?
This type of insurance is especially recommended if your company car still has a high current value or is even new. You should not think about the consequences of an accident with a more limited coverage. Let's say you insure your new car against third-party liability. In an accident, your company car is severely damaged. You are responsible for the damage, so you cannot hold the other party liable for your damage. The repair costs amount to €5,000. You are responsible for this damage because of your choice for WA car insurance. It can be even worse. The repair costs can also be higher than the value of the car. The result is that the new car is worth almost nothing. You can avoid this by choosing the all-risk coverage.
Who pays out in the event of a claim?
Who causes the damage, pays for the damage. With the all-risk car insurance you do not have to worry about this. Your insurer will make sure your company car is repaired. Possibly the damage will be recovered from the other party, but you do not have to wait for that. You can repair your vehicle right away.
Save by comparing
Choosing a more limited form of insurance is done to save on the premium. It can be done more intelligently. You can also save without compromising on the quality of the insurance. The differences in premium between insurers are so big that you may have all-risk car insurance with the cheapest insurer at a lower premium than WA + limited hull insurance with another insurer.
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