If you run a company where you or other staff members need to drive vehicles belonging to customers, you will require trade insurance to ensure you and your colleagues are covered in the event of an accident or other issue. Here are the basics you should know before you select a trade insurance policy for your business.
The Type of Policy You Need
There are different levels of insurance you can take out for your business, just as there are when you take out private insurance for your own vehicle. You can opt for third party insurance, which is the legal minimum and affords you only a basic level of protection. In the event you or a colleague hits a third party, your policy would cover their costs but not those of you and your vehicle. The next level of insurance is third party, fire and theft. This covers a third party in the event you hit them, and also covers your vehicle for fire or theft. Fully comprehensive insurance is the highest level and covers you for third party damage, fire, theft and any other accidental or malicious damage.
As with private insurance, you’ll find …