Finding the most suitable kind of insurance for your business can seem like a daunting and challenging task. This could take you months of reading and research yet you may not be able to reach a decision and decipher which insurance policy is best for you.
However, there are some of the best insurance companies in Pakistan which can help solve this problem for you and tell you which one is apt for you by taking into account your situation.
Accidents that are incurred while you are driving your own car for personal reasons are covered by personal car insurance. This could include instances such as you driving to work, going grocery shopping, or even going out with friends.
Commercial auto insurance covers vehicles used for business purposes. This includes vehicles used to drive to and from work and vehicles used while working. These could be bikes or cars used to deliver food or vehicles used for you to drive to the farm in your farm to table delivery service.
If you use your own vehicles occasionally for business purposes then you may not need commercial auto insurance as your personal insurance would cover it. However, if the case is not so then you may need commercial auto insurance.
Personal insurance primarily covers the owner of the vehicle along with his or her immediate family members. Any third-party accidents that occur while using this vehicle will not be covered by personal insurance. Moreover, if an employee used your business vehicle for a personal task and got into an accident, then yet again this will not be covered for.
Commercial auto insurance on the other hand takes into account you and your employees as well as those people using your business-owned vehicles.
As mentioned above, commercial insurance has wider coverage and covers more aspects. Hence, due to this reason, it automatically costs more as compared to personal insurance.
However, a price quotation is only given after taking into account certain factors such as the number of vehicles being insured, the types of vehicles that will be used, who will be driving those vehicles, and lastly, what will those vehicles be used for.
Insurance companies in Pakistan provide several coverage plans keeping it affordable and allowing it to remain budget-friendly. Policies can also be customized keeping in mind what to include and exclude respectively.