A comprehensive guide to Business car insurance


If you own a business which deploys a number of vehicles you cannot afford to do without business car insurance. A business is all about profitability, and expenses on repairing a damaged car, paying for the employs medical bills, hiring someone else to handle his or her work while they are out of work, and any other legal fees can mean a colossal setback for your business. That’s where business car insurance comes in, it provides you protection for your entire fleet, without breaking the bank.

Request quotes from various insurance companies, bear in mind, not all companies offer business car insurance, so scout around for companies that do. The internet is one of the most powerful resources available to you, and best of all, it’s free. Make the internet work for you, go online and request for a few quotes, you should ask for five at the minimum.

Gather quotes and compare prices to get the best deal. Also make sure to check for coverage, if you have a cheap policy that doesn’t offer you adequate cover, your vehicles are underinsured and still susceptible. What you need to do is strike a balance between cover, and the associated cost. Also look for reputed companies, there are many smaller companies who offer insurance at a much lower rate, but there is no security that the company won’t turn belly up on you, and take your premiums and cover with it on the way down.

Insurance brokers make your work much lighter, but you can’t hang on their every word. Remember they are just sales representatives working for a higher commission. The higher your premium, the more money the auto sales representative makes, so always question his suggestions to see if what he suggest is ideally what you would require. Understand your needs, and don’t get convinced to buy cover you don’t need, also ensure to read the fine print, if you have a legal advisor, get it checked by him or her.

Deductibles are a very good way to save money on your insurance premiums, if you have a team of efficient drivers; ask your insurance company what’s the minimum and the maximum allowed, and chose what you are comfortable with.

Discounts are another boon for an entrepreneur like yourself. You can avail of a host of discounts offered by insurance companies to people who install safety features such as anti theft devices, tracking devices or ABS, speak to your insurer to find out what they features they offer discounts against, now compare that with the startup cost of installing the safety devices, if the return on your investment is justified, it’s a safe bet to go ahead with this. Always keep your vehicles in a good drivable condition, your auto insurer may provide you with a towing service, however you need to bear in mind that if you do use their services, it will affect your premium.

Many people settle for the state minimum in terms of coverage for their vehicles, although this isn’t really a smart decision; it’s the bare minimum that the stage obligates you to be covered by; in the event of an accident, you will need to spend out of your companies account to repair part of the damage. The safest bet is a combination of comprehensive and collision insurance, comprehensive insurance will take care of maintenance bills, and non collision related damages, and collision insurance will cover against collision related damage.