Nobody likes paying out on insurance policies, but they’re necessary evils. It might seem like you’re already up to your eyeballs in insurance policies. But one that a lot of people forget is company car insurance. They often forget because they think their personal car insurance covers them, but it doesn’t, even if you’re using the same car.
You might need a little help to cut through all the confusion and competing offers to fully understand what you need from a company car insurance policy though. You’re in luck, here’s a simple guide to getting the right policy for you.
Why Do You Need Business Car Insurance?
As I mentioned above, your personal insurance policy won’t cover you if you’re using your car as a part of your business. This means if you do have an accident when using the car for business, your insurer won’t pay out. You’ll be left with big bills for the repair of the car and all because you didn’t get a simple company policy.
Anything you do in your car related to the business will need to be covered by a company policy. Your personal policy will only cover commuting to and from work, not the actual work itself. The premiums will be bigger but don’t be tempted to play the system because you won’t win.
Choosing the Right Type of Cover
There are lots of options open to you when it comes to company car insurance. You should be able to find something that’s right for you, no matter what your needs are. You can get a policy which covers you for both your personal usage and your business needs.
Or if need to insure a lot of cars you can find a specialist company like Insure Fleet, who offer fleet insurance. Getting your cars covered in bulk will usually save a lot of money compared to getting each car insured individually. These kinds of common sense ideas can be discussed with a broker or insurance dealer to find the right policy for you.
Getting the Best Deal
The more information you can give to your insurance, the better your policy will be. That means you’ll have the cover you need and potentially save some money too. Your insurer will want to know how much you use the car. So, if you don’t use it much in a business capacity, make sure they know because it’ll cut your costs dramatically.
As always with insurance, it’s vital to shop around. You won’t just stumble across the best deal out there, you’ll need to seek it out. An independent broker might be able to help you.
Consider the Type of Car
The type of cars your company uses will also impact on the cost of your insurance premiums. Some will make them more expensive, and some will make them cheaper. So, make sure you’re going for the cheapest option available to you.
Running hybrids or electric cars will cut your costs dramatically, you’ll also save money on fuel expenses. You could save money and do your bit for the planet! What’s not to like about that?