It’s vital that your business has the right insurance policies on all its vehicles. From van insurance to business insurance and even goods in transit insurance, it’s easy to get confused and think you have the taken out the right policies when you might not have.
Here’s a quick guide to the main different types of insurance a business needs to be fully operational on the roads legally:
Business insurance
Often employees travel to work in their own car which they have taken out private insurance on unless they have a company car which is insured for business purposes. If an employee however has to nip out during working hours for a work errand, say to pick up the coffees or drop off a parcel at the Post Office, they need to be covered by business insurance. This is something an employee can add to their existing policy at very little cost and is recommended that employees take out so there are no complications if an employee does have to complete an errand at short notice.
Van insurance
If the company has a van or an employee travels to work in a van it’s a good idea to check the insurance policies. Private van insurance policies only cover drivers for social and domestic use so it’s important to make sure they have a business insurance policy which covers them for commuting to work. A lot of companies offer great value van insurance with different cover options available depending on your needs. If you work in an industry where you’re going to be transporting around expensive tools it’s a good idea to add tool insurance cover to your policy.
Goods in Transit Insurance
If your company needs to transport goods, making sure you have the appropriate goods in transit insurance is important. Not only does goods in transit insurance cover you for the cost of the goods your vehicle is carrying it also covers you for delays.
So, what can/can’t be insured? Generally speaking, all kinds of goods can actually be insured by this type of insurance. For example, goods in transit insurance by constructaquote covers a wide range of goods including livestock. There are several different types of goods in transit insurance available, so researching the type you need is advised.
Takeaway
Reviewing the insurance policies yearly on your vehicles is advised as often people’s responsibilities within the workplace change so it’s always a good idea to check. Remember to always encourage employees to take out business insurance on their own cars too, as it generally comes in handy and is at very little extra cost.
