Types of Vehicle Insurance

Although all of us are probably aware of the different basic car insurance options we have in order to be able to drive our cars legally but probably are not so aware that there are also specialist vehicle insurance policies available. The types of policy that we would be aware of are third party and comprehensive. Third party policies are the minimum legal requirement and in the event of an accident, the insurance companies that provide this coverage will pay for any damages or injuries incurred by any third parties involved in an accident but will not pay any of your expenses. A comprehensive policy though, will require that the insurance company not only pays the expenses of any third parties but also pays any expenses you may have which resulted from the accident. If your vehicle has been involved in an accident and so an insurance company has had to pay out money on your behalf, they may well charge you extra for the same type of insurance in the future. Although initially you may think that that is only reasonable, you may think differently if the accident occurred whilst a valet was parking your car or when a mechanic was taking it on a test drive. In these instances it would hardly be fair to punish you as you were not in control of the vehicle at the time. It is for this reason that there are specialist insurance policies available for those people in the auto trade business to take out themselves. Any reputable valet service, auto mechanic shop or auto dealer, should have their own insurance policy which covers any vehicle that they may be driving in the performance of their duties. If someone in the auto business were therefore to be involved in an accident in your car, it is their insurance payments that would perhaps increase and not yours. There are of course different motor trade insurance policies available depending on exactly what part of the auto business someone may be in. If you are in any aspect of the auto business and you feel that you should perhaps have relevant insurance, you can either spend a lot of time going to the different insurance companies and seeing exactly what different policies they each offer or, alternatively you could hire an insurance broker to do that for you. Brokers are different from agents in so far as they have no loyalties to any one insurance company and so truly can search around for one which is in your best interests and in fact, brokers are regulated to ensure that they do keep their client’s best interests at heart when searching for different policies. Today there are many different insurance brokers available to choose from but in this instance, you will want to look for one that specializes in insurance policies for the auto trade business. They do exist and there certainly will be at least one in your area.