Business Vehicle Insurance

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Business Vehicle Insurance Explained

If you have a standard car insurance policy, then it will only cover your vehicle if you use it for personal, social, or domestic purposes only. This includes driving to the shops, visiting your relatives or friends, as well as having a day out.

However, most insurance policies will cover your car if you use them for commuting to and from your workplace. But it is still advisable that you should ask your insurer about this, in order to be sure that your vehicle is always protected, and you are not under-insured.

What is business vehicle insurance?

You require a business vehicle insurance if you use your car for work-related purposes such as driving to different offices or visiting your clients. If you drive your vehicle for hundreds of miles each week, then you should get insurance for your business vehicle.

Business vehicle insurance is a bit different from commercial car insurance. The latter is used when you are driving a taxi or a delivery van.

If you are driving a company vehicle, then the company who owns or leases the vehicle will be responsible for acquiring insurance for it.

Why do I need business vehicle insurance?

Business vehicle insurance is mandatory in the UK. It can protect you in the event that you use your vehicle for your business. Most people think that their standard personal vehicle insurance policies can also be used for business purposes. But this is not the case, standard vehicle insurance policies do not provide the same protection as business vehicle insurance policies do.

Business vehicle insurance covers a wide range of protection compared to standard vehicle insurance. With this type of insurance, you are always protected if you travel to different locations for business or if you drive your employees for business-related purposes. You can be covered as long as you use your vehicle on behalf of your business.

Finding the Best Business Vehicle Insurance

What are the different classes of business vehicle insurance?

Your standard car insurance policy can cover your vehicle if you use them for domestic purposes as well as for commuting to and from your work. But if you use your vehicle for traveling to different places for business use, then you will be required to take out a business car insurance policy. However, getting this policy is not as straight forward as getting a standard policy.

When it comes to business vehicle insurance, there are several classes that you can choose from. Your choice will greatly depend on the level of cover that you require. These classes may also differ from one insurer to another. Hence, it is essential that you must examine carefully the terms and conditions of each business class. You must consider the work that you do as well as your purpose for using your vehicle before making a decision.

Class 1 business use is appropriate for you if you use your vehicle for driving to different offices or to your workplace. It includes everything that is covered in the standard policy. Most often, this type of policy includes a cover for your spouse, however, it will not cover your vehicle if it is used by any other driver. In order to ensure what is covered in this policy, you can check with your insurer.

Class 2 business use expands the coverage of a standard business use policy by covering the policyholder with the addition of a named driver who frequently travels to different sites and works on the same company.

Class 3 business use is what you need if you travel extensively using your business vehicle. This is ideal if you are dealing with door to door sales who travel many miles on a weekly basis.

If driving is a permanent part of your job, then you are required to take out a commercial traveling policy. For instance, if you are a driving instructor or a minicab driver or if you are selling some products and services.

Commercial vehicle insurance is designed for those who are using their vehicle for their jobs such as delivery drivers and taxi drivers.

Since these business vehicle types are a bit complicated and include several factors, then it is worthwhile to check the terms and conditions of the policy.  Be sure to verify with your insurer if the policy can fully cover your vehicle for business use.

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