If you're running a small business, then chances are that you'll need to purchase business car insurance vs personal coverage. You may have a few employees, but this doesn't mean that you can just put your trust in the company's employees to take care of you. While they may be professionals, they may still be people and not business owners. At times, it pays to be a little more protective of yourself and your company. Here's a closer look at business car insurance vs personal coverage.
For one thing, how often do you use your vehicle? If you're a heavy user of your vehicle, then you'll want to get insurance that covers you for any eventuality. For instance, if you were to get into an accident, then your insurance would help pay for any damages you inflicted on the other party. This is known as comprehensive coverage.
There are a few different options when it comes to this type of coverage, and most companies have both types. They have collision coverage for minor damages. You may have some deductibles associated with this, too. Comprehensive coverage has everything but collision for damages. It typically will also come with an insurance discount for driving less than a certain number of miles per year.
One way to get around the cost of business car insurance is to get a van. These vans are usually exempt from most insurance rates. This makes them much cheaper for insurance companies. However, even if your company doesn't offer a van, you can still find good deals. Just because your vehicle is not a van, doesn't mean that it's exempt from rates. You should shop around and compare rates online, and not just to compare prices.
Personal injury protection is another option. This includes bodily injury as well as pain and suffering. It's a good idea to have this, as it will help you in the event that you are involved in an accident where someone is injured. The premiums associated with these are going to be higher than business car insurance. But if you use this, it could end up saving you a lot of money in the long run.
If you own one vehicle, don't think you have to get comprehensive coverage on that vehicle. In fact, it's best to limit the coverage to the actual vehicle. If you have multiple vehicles, that's a great time to look into getting collision and comprehensive insurance. Just make sure you get enough coverage for all of your vehicles.
Another option to save money is to get around the cost of insurance by changing vehicles. You might think that this defeats the purpose, but you might be surprised at how often you can save by doing this. Think about your work commute. You get around better by riding a bike or taking public transportation. Those are two ways that you can save money on insurance without raising your rates.
So there you have it. As you can see, there are some great options out there when it comes to business car insurance. . . . . . . And remember, sometimes it's better to be safe than sorry! So take the time to do the research and find the best insurance for you.
The bottom line is that you'll want to be absolutely thorough in your research. Don't rely on what the agent tells you-know your facts, and you'll be fine. Know your options, and you'll be ready to sign up for business car insurance.
It's easy to understand why a person would purchase insurance for their car based on what types of benefits they receive. But you should also be smart about it. Remember, if you've got a newer car, you don't necessarily want to get collision insurance, since it could raise your premiums. But if you're buying a secondhand vehicle, it makes a lot of sense to go ahead and purchase a comprehensive plan.
There are many ways that you can lower your insurance costs. Personal driving courses can help you get a ticket dismissed or reduce the amount of points on your license. Insist on taking those classes. Ask your insurance company for discounts if you have multiple cars insured with them. Do whatever you can to get that insurance paid off as quickly as possible.