Business Car insurance
Business cars are generally more expensive to insure than a standard car because the chances of being involved in an accident are much higher. Business cars normally cover more miles, in heavy traffic and are driven on unfamiliar roads.
A standard car insurance policy will cover for domestic use and for commuting to and from work. If the car is used for more than this then you need to take out a business policy. When taking out a policy for a business car will realise that is it not a straight forward process as taking out a policy for domestic and social policy use. There are various types and classes available depending on the type of work it is to be used for.
What do you need to know about business car insurance?
Types of usage:-
- Commercial travelling. Required if required to be driving permanent aspect of a work and selling services or goods
- Use for business. This type of policy covers everything included in a standard type of policy. Also, covers travelling to and from multiple premises or sites.
- Business use by you and a spouse. This type of policy extends standard business use to cover a spouse for business use
When to look for a business car insurance policy:-
- Driving a lot of miles
- Driving colleagues around
- Car used For business activities
- Commuting to various locations regularly
Factors used by insurance companies to calculate insurance premiums:-
- Who will be driving
- How many business miles will be done
- When and where the car will be used
- What the car will be used for
The price of a car insurance can vary significantly: they are fixed by the companies. If you want to take out auto insurance, it is best to compare at least two insurance quotes from the two main insurance distribution channels (mutual insurance companies, agents or brokers).
Once the agent or broker such as Arkwright Insurance Brokers has all the information, they will provide you with a quote of how much will be the total cost for each renewal period (either 6 months or 1 year) and the coverages that are included.
For you to get the most appropriate insurance, you may need to compare it with other similar companies and the same lines, that is, if a company offers you a £500 deductible, ask for a quote with another company with the same deductible.
The calculation of your premium will depend on the type of insurance taken out (third party or all risks), your driver’s bonus, your age, the type of vehicle and its use. But be careful, only compare quotes with comparable guarantees and deductibles.
Irrespective of whether you are searching for comprehensive insurance, third party fire as well as theft, or just third party exclusively, and then whether it is for just one car or several vehicles. All these Car Insurance services out there, Arkwright Insurance Brokers, for instance, will make it easy to discover the product you want.