While the recession has left many business looking to cut back on unnecessary expenditures, if you want to protect your business against the possibility of potentially crippling liabilities then you should definitely have proper Business Vehicle Insurance.
As a business owner, are you liable for any motoring accident caused by you or one of your employees? Yes! Whether you or your employees are driving a company owned vehicle, a vehicle that has been rented for the purpose of business use, or an employee’s personal car that they are using for business purposes you will be held responsible should you or your employees cause a motoring accident in one of these types of vehicles.
Will you have to pay the cost of any damages that arise from one of these accidents? Yes! As the business owner, you will be liable for any damage suffered by third parties or damage to their property. You will also have to pay the cost of replacing or repairing your own vehicles.
Can Business Vehicle Insurance protect your business against these eventualities? Yes! Business Vehicle Insurance can provide cover against third-party liability, whilst it can also provide the cost of repairing or replacing your own vehicles, those rented for the purpose of business, and your employees’ personal vehicles should they be needed to use them for the purpose of business. It can also cover you for accidents due to unforeseen circumstances such as collisions with animals and those that may happen in adverse weather conditions.
How can you keep premiums to a minimum?
While Business Vehicle Insurance Premiums can be reduced by most of the factors that reduce a Personal Motoring Policy, you may also want to consider increasing excesses, self-imposing mileage limits on your vehicles and providing secure parking.