Commercial car insurance for businesses

This requirement isn’t unique to Ghana; the majority of countries around the world all have laws regarding this in place, and all function quite similarly. Regardless of the type of vehicle you use for business, be it a van, trailer, truck, car, or even scooter –you will need to have commercial car insurance in order to operate legally.

Being caught in a situation where you would need commercial car insurance without it can actually bankrupt your company. Here is everything you need to know about commercial car insurance, from the coverage it offers to the cost.

Types of Commercial Car Insurance And Why We Need Them

Right off the bat, we can tell you should base your commercial car insurance on your business, finances, and risks that you encounter every day while on the job. Even delivery services and couriers carry some amount of commercial car insurance. Here are the different types of commercial car insurance that can fit your business:

● Third-party car insurance - The most common type of car insurance for keeping your commercial and personal vehicles insured is third-party car insurance. Third-party generally refers to any expenses you may face in the process of having your work vehicle repaired. This includes any repair shops and ensuing fixes. Third-party car insurance also offers protection for theft or fire damage –all very real risks for cars being used exclusively for business.

● Comprehensive commercial car insurance - When not in use, parked, or in storage, there is a lot that can happen to your work vehicle(s). There are often weather and criminal hazards like storms, lightning, earthquakes, floods, theft, and vandalism that can severely compromise the vehicle(s) your business depends on.

Which Commerical Car Insurances Are Necessary

From a business standpoint, you can easily see why the previously mentioned commercial car insurance would be necessary when it comes to running or performing a service that involves a vehicle. So, having full comprehensive coverage along with standard third-party car insurance will go a long way for you and your business.

Commercial car insurance in Ghana costs anywhere from GHC 221 to GHC 371 annually. The exact cost will depend on factors such as yourself, the vehicle(s) being used for work, and the driving records of any other employees acting as drivers. The good news is that there are plenty of ways you can get free quotes from multiple commercial insurers in Ghana that fit your business just right.

#FeaturedBy: Your Business Promotion