Do Business Deals on the Go: Compare the Best Deals on Business Car Insurance
Insuring your business cars doesn’t have to be expensive or time consuming, but it does involve doing some research in order to find the policy that fits your needs best. Even if you aren’t sure what kind of coverage you need yet, taking the time to shop around and look at various quotes will make shopping for insurance easier when you do know what you want. Plus, knowing how much other businesses are paying for coverage will help you start a conversation with your agent about what kind of discount you may qualify for as an existing customer.
The basics of business car insurance
The cost of insuring a company car can vary quite a lot depending on the make and model, so it's well worth doing some research before you set off in search of quotes. Many fleet insurance providers will have policies for both new and used vehicles, but some may only offer one or the other. There are also different levels of cover available - third party only, third party fire and theft, fully comprehensive and personal accident cover. So you'll need to decide which level of cover suits your needs best. For many small businesses, third party cover is often the best option because it covers any damage caused by an accident that isn't related to theft or fire. That way if you're involved in a minor collision with another driver, they'll be responsible for covering the costs. If there's no-one else involved then it should be straightforward, as long as there's enough liability cover provided under the policy. But if you've got ten cars on your books and one of them is written off, you could be looking at expensive bills for years afterwards - just think about how much depreciation there'll be after three years! It might not seem too important now, but don't forget about the future when choosing between those two types of cover. Third party cover is cheaper than fully comprehensive, so it's perfect for smaller companies who haven't yet established their reputation. If you're more established and want more peace of mind, then go for the higher level of cover. And remember to check whether parking sensors are included in the premium - they help reduce the likelihood of having an accident on your premises. Remember to take into account how far away your business premises is from public transport links, too; driving back and forth every day can increase the risk of accidents. Some employers provide staff with fuel vouchers instead of providing a company car; that might be something worth considering if you're currently looking into buying cars for staff members but aren't sure where to start.
The benefits of having business car insurance
Running a company is hard work, but it also comes with some great benefits. One of those benefits is having access to company cars. However, if you provide your staff with company cars there's a good chance you'll need to insure them. Here are the benefits of having business car insurance and how you can get started on your journey!
-Company cars give employees the freedom and flexibility they need to do their jobs well. -Your employees will appreciate the gesture and feel more valued by their employer when they have access to the type of vehicle that makes them feel most comfortable in their roles. -For example, if you operate a construction company and all of your team members use vehicles for carrying tools or equipment then it may make sense for you to offer an SUV.
-On the other hand, if one of your major responsibilities as an employer is catering events then chances are that many of your staff will be using sedans instead.
-In this situation, making sure that everyone has a similar make and model would be beneficial because then everyone could use the same parts in case something goes wrong with one person's car. -This way, even if one car breaks down during a job then someone else who's still mobile can take over the task.
-The best part? No matter which model you go with, most plans come at a reasonable price. The cheaper options start at around $250/year for small companies and climb up to about $1000/year for large ones. For example, Geico offers four different levels of coverage starting at $249 per year up to $999 per year depending on what kind of fleet size you have.
The different types of business car insurance
The key to getting the best deal on company car insurance is shopping around and finding the right insurer for you. There are lots of different factors that will affect your personal insurance needs, so it pays off to compare quotes from a number of different providers. A few questions you might want to ask when comparing quotes include:
- What's the total cost of cover? Is there an excess or deductible? - What type of cover do I need? Comprehensive, third party fire and theft, third party only, fully comprehensive or third party fire and theft with no optional extras? - How much excess am I willing to pay in the event of a claim? Do I have any existing claims which might affect my quote? - Do I own my car outright or am I leasing?
- Where is my business based?
- Am I looking for commercial vehicles as well as private cars or just one of the two types? - Who should be insured under the policy (i.e., me, directors, staff)?
These are just some of the many things to consider before making a decision about which company to insure your cars through; if you're not sure what's best for you then consult an experienced broker who can give impartial advice and find out all your options. - Whether you run a small business or a much larger enterprise, if you provide your staff with company cars there's a good chance insuring all of those vehicles. If this sounds like something you're considering, then read on to find out everything you need to know!
How to get the best deals on business car insurance
Insurance is one of the most important things you need when you own a company car. It's an expense that will no doubt add up over time, but it can't be avoided. Here are some tips for getting the best deals on your business car insurance:
- Shop around with different providers and compare rates. The more quotes you get, the more likely you are to find a better deal elsewhere.
- If you're in the market for a new policy, make sure that your agent doesn't automatically sign you up for higher liability coverage than what is necessary for your needs. In many cases, people buy too much coverage because they don't know how much they'll end up paying for premiums at the end of each year. A good rule of thumb is to try to stick with a policy that offers 100/300/100 or 150/300/150 limits--the lower number refers to physical damage per person (if someone hits your car) or total physical damage (a collision). Any property damage should be paid out by the other driver's insurer so this is not included in your limit.
- Spend time educating yourself about risk factors and exposures within your industry so you have a better understanding of what types of policies might be right for you. - Make sure you understand which type of coverage you need before agreeing to any kind of policy--liability only or full coverage. With Liability Only, there would be no payment for damages without proof of negligence; Liability with Comprehensive Coverage would cover damages from any source.
- Check out your local dealerships as well--sometimes these places offer discounts on car insurance if you purchase a vehicle from them.
- Be careful to avoid making any statements during the application process that could increase the price of your premium; make sure that every question is answered truthfully and honestly so there are no surprises later down the line.
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