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Does Your Business Require Chauffeur Insurance?
You may have often wondered if your business needs Insurance. When you are in the business of transporting people, there are several risks involved. At times, the loss due to the occurrence of an unforeseen event can ruin your business. Many transporters opt for taxi insurance, which provides cover against risk that affects the business and those that are mandated by law. On the other hand if you use a commercial driver or a Chauffeur, then taking out taxi insurance will not be sufficient. In such circumstances you need to obtain Chauffeur Insurance to protect both the driver and the vehicle. Chauffeur Insurance can also be opted for if you use a luxury car, as a luxury car involves a higher risk of loss when they meet with an accident. Vehicles that are classed as a 'luxury car' include Mercedes, Rolls Royce, BMW, Audi and all other expensive cars. Other vehicles that cannot be included in taxi or van insurance include Stretch Limousines and wedding cars. These cars have to be insured under Chauffeur Insurance, and not under normal vehicle insurance.
When taking Chauffeur Insurance, it is important that you include third-party cover. This cover protects your business from claims made by a third-party. Third-party insurance covers loss caused to both vehicle and personal damage to the third-party. The premium for third-party insurance depends on the age of the driver, the history of the driver, the vehicle condition and other criteria set by the insurance company.
Public liability cover will protect your business against loss due damage to public property and personal injury to the members of public. It is not mandatory for you to take a public liability cover, but it can be beneficial if you are doing business with civil services or the government. This is because it is easy to get a government contract if you have public liability insurance cover for your vehicles. Purchasing public liability insurance will also boost your public image and goodwill.
There are other optional insurance coverages that come with Chauffeur Insurance. They are:
Employee Insurance
You have an option to cover people who may not be driving the vehicle but are still involved in the business. These people include the maintenance crew, office workers and mechanics. These people do not include your family members, but workers who are employed in business.
Property Insurance
Insurance companies also give you an option to insure your property when you take Chauffeur Insurance. This cover will protect the business from loss to the premises due to events such as flood, theft, fire and all other unforeseen events.
Business Interruption Cover
If you are unable to perform your normal business activities due to breakdown or damage to your property or your vehicle, then the insurance company will reimburse you for loss of business.
Money Insurance Cover
If you transport money from one place to another, then it is imperative that you opt for money insurance cover. The insurance company will protect the business for loss caused because money is stolen from your vehicle or your premises.
Taking the above benefits into account, it is important that people involved in the transport business obtain Chauffeur Insurance to protect their business against unforeseen loss.
Author Resource:-
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
chauffeur insurance
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