Getting insurance for business vehicles can sometimes be beneficial for the company. This is because in many cases if a car is damaged the person driving is liable to pay for it, rather than having to make a claim on your business car insurance.
However in some cases business car insurance is not a great idea, particularly if there will be multiple drivers using your vehicle. However, fleet car insurance can sometimes be a cheaper option as the number of vehicles being insured brings down the costs.
If you’re thinking of getting company car insurance then read on to find out the benefits and how to find the cheapest deal.
The benefits of business car insurance
If you have lots of vehicles that need to be insured it’s more cost effective to put them all on one insurance policy rather than setting up individual accounts for each car. The more vehicles you have on a policy the more your premiums will be reduced. In addition, you’ll only need to update or renew one policy when your insurance runs out.
Many business car insurers offer replacement vehicles if one of yours is damaged, stolen or breaks down, so you won’t need to worry about your business grinding to a halt if there’s a problem with one of your vehicles.
How to find the best business car insurance?
The best way to find a great deal on fleet, business or company car insurance is to shop around on price comparison websites. You’ll be able to find lots of different companies offering commercial car insurance so you’ll be able to get a better idea of the kind of price you can expect to pay.
When searching for the right insurance make sure you read all the fine print so you can pass on to drivers exactly what they can and can’t do whilst driving your business vehicle. For example find out how your no claims bonus will be affected if a claim has to be made and whether or not you will be charged more for younger drivers.
Many insurers offer discounts to customers who buy online so find out which companies offer this benefit. Some companies may also reward you for managing your account online rather than receiving paper bills as it makes their administration much quicker and easier.
When choosing business car insurance you can reduce your premiums further by taking the same steps as you would on your personal insurance. Adding security features such as alarms and immobilisers will help cut the costs of insuring because you’ll reduce the risk of a vehicle being stolen. Where possible your vehicles should be securely locked away at night to make stealing them even more difficult.
Regularly maintaining your vehicles will mean they run more smoothly and minor faults can be addressed before they turn into costly repair jobs. This can save you more money because you’ll be able to build up your premium as you’re less likely to need to make a claim for an expensive repair job.