Used cars are better than newer cars on an economical level. They’re more widely available, cheaper to buy, and often work just as well as a newer make. Additionally, many people are being unable to afford newer cars at all, so they’re a viable alternative.
Of course, what’s used can be prone to breakdowns and defects, so it’s important the they’re bought smartly and well protected. For example, companies such as AA provide quotes on the monthly costs of a second-hand car, allowing you to secure the best deal. This way, you’re ensuring everything is legally up to scratch and that your used vehicle is coming from a legitimate seller.
Still, it doesn’t end there. One of the other important legal requirements to consider is insurance, and it’s important it’s in place quickly so that your drivers are safe, and your company reputation is intact. Here are a few tips on how to effectively insure your business’ second-hand cars.
1. Weigh Your Options Carefully
It’s unlikely that the best deal will hit you straight away. By going with the first good deal you encounter, you maybe pass up the chance to discover an even better one. After all, no two insurers are the same, and they each have different pros and cons like any business.
Therefore, you should give yourself some time to accumulate and assess some viable options, and then pick out the best of the bunch.
Remember, your fleet of vehicles will expand alongside the growth of your company, and so will the insurance of each car. A fair deal for insuring a handful of cars may not look so appealing when the fleet expands, so it’s important you keep your circumstances in mind when acquiring or renewing your cover.
2. Cutting the Premium
Insurers have conditions that, if met, can lower the cost of their service. It’s enormously beneficial that your company complies with these standards, as the money you save can be attributed to other areas of your business. Done properly, cutting the premium is a win-win scenario for all concerned.
You may be asked to do limit the mileage your cars undertake, or even to install a system that assesses the quality of your driving. This is called a Black Box insurance policy, which fits a device into your vehicles that assesses how safely you and your employees drive.
Additionally, you may simply be asked to store your vehicle safely in a garage overnight, so it’s important that you don’t use them for other kinds of storage. Ultimately, proving you’re a responsible car owner will cut down the costs!
3. Open Honesty
Those who try to worm out of insurance are guaranteed to get slapped with fines and, in the event of any serious accidents, even prison sentences. Insurance is a huge deal, and it can’t be cheated, dodged or averted in anyway. Moreover, the process of gaining insurance goes a lot smoother if you know what you’re looking for right out of the gate.
Effectively insuring your car means adopting upfront honesty from the beginning. Only by laying your cards on the table will you gain any traction. You need to state to your insurer in clear terms exactly what you want and what you’ll be using the car for; such as if you’re using it to commute or attend meetings. This will affect the type of insurance you’re liable to claim.
