Car insurance rates and quotes for business owners and managers
If you are a business owner or manager who has a fleet of commercial vehicles or uses company cars for corporate travel, you need to insure these vehicles just as you would insure your own private car or truck. Car insurance policies for business vehicles must meet certain compulsory minimums, though you can (and, in many cases, you should) get more comprehensive coverage that offers superior protection.
Your needs will vary, depending on the size of your organization. However, you should never assume that your regular insurance will cover you if you're using your own car for business travel. Ensuring that you, your employees, your property and your interests are properly covered is a vital responsibility.
Commercial Insurance for Vehicle Fleets
Most commercial car insurance policies are tailored to the industry in which you work, the size of your vehicle fleet and the types of vehicles in your fleet. Industry-specific classifications allow insurers to develop policies that meet the unique needs of a range of commercial enterprises.
You should be aware that different insurers may have varying definitions of what does and does not constitute a "small business." Car insurance quotes for small businesses will only be valid if your company conforms to the insurer's definition.
If you want to lower your current car insurance premiums for a large number of vehicles, you should consider investing in professional fleet maintenance, as this may prompt insurance companies to view your operations as being less risky.
Business Car Insurance for Individual Entrepreneurs
Your regular insurance covers what is known in the industry as "social, domestic and pleasure" (SDP) use. If you need to make business trips, particularly across long distances, SDP terms will not cover your vehicle usage. You may need to pay additional premiums or higher car insurance rates to receive the coverage you need.
To get cheap car insurance for commercial vehicle use, there are a few proven strategies you can use. First, agreeing to (and remaining within) mileage limits can cut your costs. Second, ensuring your vehicle is parked and stored in secure facilities at all times can be attractive to insurers. Finally, be aware that car insurance rates will differ, depending on whether the vehicle is used purely for commercial purposes or if it's used primarily for personal purposes with regular or occasional business use. Make sure you specify how frequently you use the car for business purposes as it may dramatically affect your rate.