How Much Does Business Car Insurance Cost Uk?

Business car insurance is an important factor to consider when running a business in the UK. It’s essential to protect your vehicles from any damage or theft, and to ensure that you’re compliant with the law. But with all the different types of cover available, it can be difficult to understand what policy is best for your business. In this article, we’ll explain the different types of cover, and how much business car insurance typically costs in the UK.

What Types of Cover are Available?

The main types of business car insurance available in the UK are comprehensive, third party, and third party, fire and theft. Comprehensive is the most comprehensive cover that you can get, and it protects you from any damage to your vehicle, as well as any liability for injury or damage caused to other people or property. Third party cover is the minimum legal requirement for driving in the UK, and only covers damage caused to other people and property, not your vehicle.

Third party, fire and theft cover is the same as third party, but also covers any damage caused to your vehicle by fire or theft. This is usually the most affordable type of cover, and is recommended for businesses with lower-value vehicles.

What Affects the Cost of Business Car Insurance?

The cost of business car insurance depends on a number of factors, including the type of cover, the make and model of the vehicle, and the driver’s age and driving record. The type of cover you choose will affect the cost, as comprehensive cover is typically more expensive than third party, fire and theft. The make and model of the vehicle will also affect the cost, as some models are more likely to be stolen or damaged than others.

The age and driving record of the driver will also affect the cost, as younger drivers and those with a poor driving record are more likely to be involved in accidents. The age of the vehicle is also important, as older vehicles are more likely to be damaged or stolen than newer ones.

How Much Does Business Car Insurance Cost?

The exact cost of business car insurance will depend on the factors mentioned above, but it is typically more expensive than regular car insurance. Comprehensive cover for a mid-sized car can cost around £1,000 per year, while third party, fire and theft cover can cost around £750 per year. It’s important to shop around and compare quotes to get the best deal.

How to Reduce the Cost of Business Car Insurance

There are a few ways to reduce the cost of business car insurance, including increasing the excess, adding additional drivers to the policy, and fitting security devices to the vehicle. Increasing the excess is a good way to reduce the cost, as this means that you’ll be responsible for a larger portion of any claims. Adding additional drivers to the policy can also help to reduce the cost, as it spreads the risk among more people.

Finally, fitting security devices to the vehicle can help to reduce the cost, as this reduces the risk of theft or damage. This can include an alarm, immobiliser, or tracking device, and can help to reduce the cost of your business car insurance.

Conclusion

Business car insurance is an important factor to consider when running a business in the UK. It’s essential to protect your vehicles from any damage or theft, and to ensure that you’re compliant with the law. The cost of business car insurance depends on a number of factors, including the type of cover, the make and model of the vehicle, and the driver’s age and driving record. It’s important to shop around and compare quotes to get the best deal, and there are also a few ways to reduce the cost, such as increasing the excess and adding additional drivers to the policy.