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Business car insurance
Business Car Insurance:
What Kind of Coverage Do You Need?

Many business owners find it hard to source cheap car insurance for business use when they are looking to insure their company vehicles. Your insurance needs with company car insurance may be different than those for private vehicles, and with so many different policy types to choose from to suit all kinds of different needs, finding business car insurance can seem to be more trouble than it’s worth. But, if you take some time to think about what you actually need from company car insurance before you start shopping around, then you’ll find it a lot easier to find cheap car insurance for business use.

Common insurance features with business car policies

It’s important to remember that you must have some business car insurance coverage in place for your business cars. It is a legal requirement to have third party coverage on any car; this kind of coverage will protect other people (and their property) if one of your cars is involved in an accident.

However, third party coverage won’t give you protection for any damage to your car or to the person driving it, so you may want to extend your company car insurance coverage to factor this in. So, you could, for example add:

  • Fire and theft/comprehensive coverage:  You can protect your business car and your employees by adding to basic third party coverage. Fire and theft coverage, for example, will insure you against the theft of vehicles or if they are set on fire. Comprehensive company car insurance coverage will insure you against other issues such as accidents, accidental damage, windscreen/window replacement, personal accident, and theft of car contents such as GPS systems and equipment.

  • Breakdown services:  This kind of business car insurance coverage will help you out if a company car breaks down.

  • Rental/courtesy car services:  Some business car insurance policies will give you an automatic rental/courtesy car to use as part of your company car insurance if one of your company’s vehicles needs repairs.

  • Personal use coverage:  Many cheap car insurance for business use policies will also cover you for personal use of the car - i.e. so you can use a company car all the time and it isn’t restricted to just business use. Cheap car insurance for business use coverage may also be arranged for certain designated drivers who are not employees such as spouses, for example.

Important considerations for business car insurance coverage

Keep in mind that not all company car policies are the same and they may come with different restrictions and levels of coverage. For example:

  • If you lease company cars, then the insurer may liaise direct with the leasing company if a claim needs to be made.

  • Some company car policies will only insure a certain number of cars (i.e. four vehicles).

Insurers are keen to get new customers for business car insurance and it is therefore not a problem to find a cheap car insurance for business use. In fact, you can often get company car insurance at discounted costs. For example you may get a percentage off your business car insurance if you:

  • Apply online

  • Have a significant no claims bonus

  • Restrict the number of named drivers that can use a specified car

  • Add security devices

And, remember, the easiest way to get cheap car insurance for business use is to shop around for company car insurance quotes. So, decide what coverage suits you and then see how low insurers can go! 

Compare business insurance providers

 
 
 
 
 
 
 
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