Running a business means more than just investing your money and seeing it grow. It also follows that you take responsibility in all aspects especially the security of all stakeholders. Take your employees for example. Some of them go about their working days using company-owned vehicles on official trips. While it is possible these employees have their personal car insurance, a business car insurance coverage will protect them as much as it will protect you from future major losses.
Business car insurance does not just cover cars but also all vehicles under the company’s name. For instance, the company requires heavy machinery, trucks and other vehicles to be driven around, as in the case of moving or construction companies. This kind of insurance coverage may also be purchased. However, since the risk is higher in bigger vehicles, not all insurance providers sell this kind of car insurance. You must find a company that will take you on and have you and your company covered. Shop around, ask for quotes or have your company referred by friends in the industry. Finding a reputable insurer can be tricky, so you need to be extra careful in transacting business with just about anybody.
When the risk is higher, the premiums are obviously more expensive. This is why companies need to pay more for business car insurance. However, there are ways by which you can save money. Discuss with your chosen insurer how you can get discounts. Some offer price cuts if there are a lot of vehicles to insure. Others give discounts when you also buy group health insurance or even group car insurance for your employees. Paying premiums on a monthly basis may also merit discounts as opposed to annual payments.
There is also a way to lower your rates: carefully choose who will drive the company vehicles to be insured. The risk level of the drivers will greatly affect your business car insurance premium. Insurers will most definitely look into the driving history and records of those who will be operating your vehicles. Higher risk drivers – those who have consistently collected traffic violation tickets – will make you pay for more premium, so choose wisely.
When you care and are wise enough about your company’s future and employees’ safety that you choose to protect everyone with insurance coverage, you will be able to sleep soundly at night. You need not worry about future losses brought about by damages to property and physical injuries or deaths when you know that your company cars are properly covered.
