Taking out VTC insurance is essential to protect your business, but it is just as important to understand the terms of your contract . Here are some key things to know to avoid unpleasant surprises:
1. Professional Civil Liability
This is one of the most important guarantees. It covers damages that you could cause to third parties (customers, pedestrians, other vehicles) during your professional activity.
Why is it mandatory?
It protects you against claims in the event of an at-fault accident. Without this coverage, you would be personally liable for property damage and bodily injury.
2. Franchise
The deductible is the amount you must pay out of pocket in the event of a claim before your insurance takes over. It is essential to carefully check the amount of the deductible in your contract.
High Deductible vs. Low Deductible
- High deductible : Reduces the premium amount but increases your costs in the event of a claim.
- Low deductible : Increases the premium but reduces your costs in the event of a claim.
3. Troubleshooting Assistance
Breakdown assistance is crucial for a VTC driver, as it guarantees rapid support in the event of a breakdown. Check whether your contract includes 24/7 assistance, and whether a replacement vehicle is offered.
4. Comprehensive Guarantee
This coverage includes the repair or replacement of your vehicle even if you are responsible for an accident. It is more comprehensive than third-party insurance, which only covers damage caused to other vehicles.
When to choose comprehensive insurance?
If you own a recent or high-value vehicle, comprehensive insurance is recommended to avoid heavy costs in the event of a claim.
5. Warranty Exclusions
It is important to understand what your insurance does not cover. Certain situations such as driving under the influence of alcohol or damage caused by passengers may not be covered.
How to check exclusions?
Read the exclusions section of your contract carefully to avoid any unpleasant surprises in the event of a claim.
6. Legal Protection
This guarantee covers lawyer fees and legal costs in the event of a dispute with a customer or third party. It can be particularly useful for VTC drivers, who are often faced with claims or litigation situations.
Understanding the terms of your VTC insurance contract is crucial to being well protected and avoiding unpleasant surprises.
At KT VTC & TAXI , we support you to help you select the best guarantees adapted to your activity. Contact us today to find out more and get a personalized quote .