What is Van & Truck Insurance?
Vans and Trucks insurance is also known as commercial vehicle insurance. To which there are four main types of commercial vehicles. Namely, vehicle carrying goods; vehicles carrying persons; agricultural and forestry vehicle and special types.
This is basically another form of vehicle insurance, but specifically covers vans and trucks. It can therefore be said to be an arrangement by which one party, promises to pay the other party, for any damage that might happen to their vehicle, which in case is a van or a truck. The first party being the insurer and the second being the policy holder.
Depending on the number of vehicles that are covered, the insurer may choose to cover the policy holder on a fleet or a business basis.
What is covered?
Most insurance polices cover-:
- Towing and Recovery
- Keys and Remotes
- Roadside Assistance
- Emergency repairs
- Emergency and Medical costs
N.B: The terms and agreements have to be agreed upon between the two parties, insurer and policy holder. These are also o include the increases and the flat limits.
Unlike the normal car insurance, in vehicle and truck insurance the policy holder can choose what they want to cover. They can either cover all the sectors or select from the following-:
- Theft and Hijack
- Damage to glass
- Accidental and Intentional Damage
- Hail, storm, floods, earthquake, lightning or any other acts of nature.
- Fires and Explosion
- Third Party Liability, (Most insurers peg this claim up to a limit of R5 000 000
N.B: Insurers may choose to cover trailers on a separate policy. So it very important for clients to understand what is and is not covered in the policy, regardless of the selected options.
A few more other items can be covered on the policies. These include:
- Vehicle, sound equipment and other accessories
- Van truck and hire
- Vehicle loss of use
- Credit Shortfall
- Deposit Cover
- Passenger Liability
- Loss of Fuel
- Driver Belongings