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Insuring Company Vehicles

It is a legal requirement that any vehicle used on the road or other public place must have motor insurance.

Getting the right cover

You need to ensure that you have the correct cover for vehicles owned by the business, personal vehicles and any employees’ vehicles that are used in connection with the business as there are different classes of insurance. Personal vehicles must cover business use and employees’ vehicles that are used in connection with the business must have their cover extended for business use.

It may also be worthwhile considering ‘fleet’ cover if you own several vehicles as you may be able to insure them at a better rate.

An insurance broker will be able to help you get the most appropriate cover for your business needs. It is vital to keep insurers updated with any changing circumstances or you could find your policy does not cover you. You can find an insurance broker on the Institute of Insurance Brokers website.

How much is Motor Insurance?

The cost of motor insurance will depend on many different factors, such as:

Make of vehicle(s)

Model of vehicle(s)

Age of vehicle(s)

Occupation

Value of vehicle(s)

Business address

Claims experience

Security protections

Driver’s details

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