Everyone knows the many benefits of personal car insurance, but a rising number of people do not understand the importance of sourcing company car insurance for their business vehicles and how exactly it works.
Company cars are becoming increasingly more common, with many different companies offering them as a bonus and benefit of working for them. There are many different types of business car coverage so it can be hard to understand just what’s best for you and your company vehicle. Follow these tips to ensure you have the cheapest and best coverage.
1. Figure out what type of insurance you need
Business car insurance typically falls into 3 different varieties, these are:
Business use for one person – This is the best type of insurance for small companies where the only driver will be the company owner. It’s typically used by sale’s people and small business owners.
Business for multiple employees – This is similar to the previous entry but with the added bonus that multiple employees can use the vehicle.
Business travelling insurance – This type of insurance works best for those who frequently travel as a part of their job.
2. Shop around
There are many different insurance providers who all offer similar types of insurance for your company car. To ensure you have the best possible insurance it’s best to shop around and see what several different providers offer. It might also help to have a look on some insurance comparison sites. These sites compare various providers so you don’t have to.
3. Consider the car you’ll be using
The price of company car insurance, just like normal personal car insurance, is highly influenced by the particular type of vehicle being insured. Typically, modern cars are cheaper to insure as they are safer and also easier to repair in case of an accident. There are also further ways to reduce the cost of insurance, including installing: steering wheel locks, tracking devices and immobilisers.
4. Where you park is important
The price can also be influenced by where the vehicle is parked. This is especially important for company cars. If a car can be stored in a covered and locked garage then the average cost of insurance will see a significant decrease.
To ensure you have the cheapest insurance for your company car use Compare Insurance. Check out the site for more information on how to get the best deal for your company car insurance.