When you’re the owner of a small business, often there’s so much going on that important things can get overlooked. One of the most essential things to get right is to make sure you have the right insurance on all of your vehicles and to check your employees are insured correctly.
From business insurance policies to needing different driving licenses it can all get a little complicated. Not only in understanding policies, choosing the insurances that offer the best value for your business is a headache. But fear not, we’ve got your back; here’s our guide to make sure that all your vehicles are insured correctly:
Work-related insurance
If you have employees at your workplace who are going to be making journeys on behalf of the company, it’s important to make sure they take out work-related insurance on their own policy. It can be the smallest things like nipping to pick up the office coffees or heading the post office, if the employee has an accident carrying out a work related errand, such insurance is necessary. Insurances like health insurance, workers’ compensation insurance or any other work-related insurance can help protecting both your company and employees.
It’s relatively cheap to add business insurance to your policy and can really come in handy, so it’s a good idea to encourage colleagues like the office secretary or PA who might often have to run errands as part of their job to take it out.
Commercial Auto and Van Insurance
If you have a van which is used an part of your company its vital to take out business van insurance rather than standard van insurance which is for personal use vans only. Private van insurance covers you for social and domestic purposes but business insurance offers insurance for those commuting to work using a van too plus social and domestic driving purposes.
Not only van, other type of for-business vehicles also have related insurances, such as truck insurance, auto insurance, and so on. Be sure choose the insurance that’s the most economical and appropriate for your business.
Goods in Transit Insurance
If your van or car is going to be used to transport goods on behalf of work then a special goods in transit insurance policy needs to be added. This protects the value of your goods whether they are being carried on behalf of a client or for your own company.
Goods in transit insurance also covers you for delays in delivery times so it’s a good asset to have, as quite a complex area of insurance its definitely one to research if you feel it necessary for your business needs.
Takeaway
Making sure that you’ve got the right insurance for all vehicles is really important as the penalties imposed if you don’t can be very strict. If you’re unsure about what policy is best for you or what your business needs are then it’s advised that you speak to an advisor an a company like a-plan who can point you in the right direction.
