Company Car

How to Insure your Company Car

How to Insure your Company Car?

If your business relies on regular transportation using company vehicles, having comprehensive car insurance cover is absolutely essential.

Company car insurance is a type of group insurance policy that can cover multiple company vehicles, as well as their contents, and the medical bills of injured drivers in the event of an accident.

Company Car Insurance and Liability

Having this type of auto insurance is particularly important as a business owner, because you could be held liable for expensive court costs if one of your employees damages another vehicle or property in an uninsured company car.

It is vital to know how to save time and money while properly insuring your company vehicles.

How to Insure your Company Car

Determining Whether Company Car Insurance Is Necessary

Do you have employees that regularly drive company vehicles to and from job locations?

Do any of your employees drive their own vehicles while working on jobs assigned by your company?

Does your company rely on transportation for more than one hour out of each workday?

If you answered yes to any of the these questions, you are in need of a company car insurance policy.

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Finding Better Deals When Arranging Company Car Insurance

The best way to find cheap company car insurance is to compare rate quotes online, or utilise the services of a professional insurance broker. If you already have insurance for your business, consulting with your current insurance agent might be the most appropriate first step. In many cases, you can get discounts of 20% or more simply by purchasing several types of insurance cover from the same company, or through the same agent.

Great Company Car Insurance Deals Online

However, before deciding to purchase a policy with your current insurance company, it would be best to shop around using rate quote comparison sites online. These sites will give you access to quotes from multiple insurance companies in a centralized user interface, saving you time and helping you find the best deal in the process.

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Drivers’ Records Can Offer Savings

There are several factors that contribute to the overall cost of company car insurance. Some vehicle models naturally cost less to insure and having employees that have clean driving records will also decrease monthly premiums. Thus, it's best to only hire employees after examining their driving records. Employers have the right to conduct a screening of prospective workers driving records, so asking for a drivers license number on your hiring application would be a good idea. You can check driving records on the website for your state's motor vehicle department.

Compare Insurance Rate on Vehicles for Additional Savings

To get an idea of how much it will cost to insure your company car, request free rate quotes for a conventional insurance policy using your vehicle model/year to complete a quote request form. If you haven't purchased your company vehicles yet, you may want to inquire with your insurance company about which types of vehicles are the cheapest to ensure. If your workers will be travelling with cargo in the vehicles, it is a good idea to purchase a policy with additional cover for van insurance and fleets carrying expensive cargo.

When applying for an auto cover policy it is important to be honest about how much your company vehicles will be used each day, as the insurance company may deny cover if your company vehicle is involved in an accident and was being used more than was originally projected on the insurance application. Insurance companies may also refuse to honour a claim if your employees are under the influence, so it is important to conduct regular drug tests.

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