What if….my company buys a car?

Whilst there has been a trend of reducing company cars in recent years, some businesses do still need to supply cars to their staff.     So what happens about insurance?

Some important things to remember:

  • The insurance needs to be in the company name, not an employee’s.
  • It needs to cover the business use of the company.
  • “Any driver” policies are still available but expensive – most insurers prefer to have named drivers and will give a good discount for this.
  • If the car is kept in a lower risk area at night, tell the insurer – it may reduce the premium.
  • Get into the habit of checking employee driving licences at least once a year, to make sure they are entitled to drive. Then advise your insurer of any convictions.

Business Car insurance is available but Motor Fleet insurance might also be suitable……….A client of mine recently acquired a second car for the business. He already had the first car insured with someone else but was being quoted a very high premium to add a second car. He hadn’t made any claims so by setting up a “mini-fleet” policy (yes, they are available for just 2 cars) I was able to save him several hundred pounds.

To find out how we can help your business, click HERE and select your particular sector.

If you need help with your motor fleet or other company insurance, give me a call on 01527 306 041 or email me at aphillips@apinsurance.co.uk.