MANAGEMENT

Detailed explanation-1: -Business auto liability insurance is an important safeguard for your business. If you or an employee is sued following a serious accident in a car or truck you own, liability insurance helps protect your company’s assets.

Detailed explanation-2: -Your commercial auto insurance policy covers the property damage and medical expenses that might arise in an accident. It also pays for third-party liabilities and legal expenses, if any. You can choose a policy depending upon the coverage you want according to your business and the type of vehicle you have.

Detailed explanation-3: -Third-party insurance, which is also sometimes referred to as ‘act-only’ insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.

Detailed explanation-4: -What does commercial umbrella insurance cover? Commercial umbrella insurance covers the same types of costs as business liability insurance, such as medical expenses, attorney fees and damages when your company faces a lawsuit.

Detailed explanation-5: -Auto insurance in India covers the loss of or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability.