For small businesses, buying a new car under a company name is expensive. That is why; most business owner will allow his employees to use his personal vehicle to transact businesses outside their offices. With this kind of setup, a business car insurance is needed. The driver might have his own personal coverage insurance, but it only covers the driver himself or any immediate family member that is listed in his own policy. When an employee meets an accident behind the boss’s car, the problems start to arise. A business car insurance should take care of this problem, answering the need to cover both the car and the employee with regards to medical expenses and damages avoiding lawsuits and claims.
Insurance companies vary their offering from the other when it comes to business car insurance packages. It is always a good practice to get as many as three quotes from different companies and compare them rigorously. What you need to do is to find who amongst them has the best offer with the least possible rate. You will soon realize that most the insurers are ready to work with and are willing to adjust their rates and increase their coverage during your discussions.
In order to secure that you are only getting the best quotes from each providers, there are things worth preparing and remembering. First, you need to have an existing business car insurance coverage, show it to the agent and he will help you out which ones are necessary and which ones are not. Or you can use your personal policy coverage if you do not own one yet.
You are also required to disclose what type of business you are in and how these cars are being utilized with regards to your daily business operation. The car’s details are also necessary including the make, model and mileage information. If there are claims in the past, your agent would be gladly to know that too. And lastly, provide the agent as to how you are going to add employees to this coverage.
One thing to remember is that, if you have not done any claims for losses for the past three years, you can expect a deduction in your business car insurance premiums. This hold true if you have been continuously covered for a longer period of time and if your drivers are not reckless, have professional licenses and no records of accidents whatsoever. Deductions are also extended for those vehicles with safety features installed to them.
