There are but a few types of commercial vehicle insurance companies on the market; they can be divided into four types :
- Goods carrying vehicles like trailers, trucks,
- Passenger carrying vehicles such as buses, mini buses, luxury coaches
- Agricultural and forestry vehicles as in tractors, cranes, forklifts
- Special type of vehicles such as ambulances, cranes, tractors
Commercial Insurance Company
Commercial insurance companies are quite similar in terms of products and services. Commercial insurance is available for vehicles and property. These commercial vehicle insurance companies also provide coverage for the vehicles of commercial enterprises and industries. Industrial coverage includes products for engineering, manufacturing, distribution and construction as well as other heavy industries.
There are many of types of commercial insurance available in the market, some of them include :
- Retail business vehicle insurance (such as loading and moving vehicles for small stores and supermarkets).
- Service company vehicle insurance (such as vehicles used in cleaning and janitorial services, plumbing service).
- Apartment complex insurance (such as vehicles used at complexes and work vehicles).
- Consultant insurance (such as vehicles for medical professionals).
- Contracting insurance (such as vehicles for construction).
- Farm holding insurance (such as vehicles for farms).
Business Insurance Company
Business vehicle insurance is similar to commercial vehicle insurance. Business vehicle insurance accommodates only business organizations and commercial vehicle insurance covers general businesses vehicles and the ones used in heavy duty industrial sectors. Examples of businesses covered under business insurance include :
- home based businesses.
- trade businesses.
- limited companies.
Commercial Insurance Brokerage Firm
These firms work as intermediaries between commercial vehicle insurance companies and their clients. These firms review the company’s risk possibilities and suggest suitable liability coverage. They work with the commercial vehicle insurers and persuade them to undertake the risk and offer insurance policies without charging commission from the clients. Commercial insurance brokerage firms can deal with all types of commercial coverage or can be specialists in certain types of coverage. The leading UK commercial insurance brokerage firms are Stuart Alexander and Layton Blackham. They are both independent brokerage firms offering insurance and risk management services in the commercial insurance sector.
Specialist Commercial Insurance Company
Instead of getting a generic insurance policy for your commercial enterprise, you may want to look into obtaining specialist insurance for your commercial vehicles. Depending on the requirements, you can get specialist insurance from just about any firm in UK.