Are you properly insured to drive for work?

Not having the right insurance could cost you.

Everyone knows that driving without insurance isn’t just bad practice, it’s also illegal. At minimum, you’re required to have third-party coverage. This means that, in the event of a crash and causing damage to a person, property, or animal, you’re covered. However, while this coverage is helpful, it certainly doesn’t cover it all. Third party coverage doesn’t cover any of the costs to fix your own vehicle or property.

In addition to this, did you know that if you drive for work, even if it is your own vehicle, you are required to have business cover? Otherwise, in the event of a claim, your insurance may not pay out.

Driving for work means any driving you do that is not to and from your fixed place of work. This could be to a client, a training course, an off-site meeting, or even deliveries. However, that doesn’t mean you’ll be shelling out. Depending on the distance and mileage you drive for work, it might increase your costs by just a few pounds per year.

Types of coverage

In addition to third party, you can opt for third party, fire, and theft or go for comprehensive coverage:

  • Third party, fire, and theft provides all the same as third party as well as coverage for the cost to repair or replace if stolen or it catches fire.
  • Comprehensive coverage helps with the costs for your own vehicle, in addition to all of the above. Depending on the policy, you may also be covered for other vehicles.

Of course, the price you pay depends on a number of factors including your age, driving experience, location, driving record, and even the type of car you drive. Being a good driver does pay off. If you go crash-free over a period of time, you could be eligible for a no-claims discount. But, if you are involved in a collision, your monthly premium will probably go up.

How insurance works

Here are some key details to keep in mind when shopping for your next policy:

  • If you have the option of a voluntary excess, this can lower your monthly premium. However, you will have to pay up in the event of a collision.
  • EU driving is automatically covered, typically with third-party coverage. If you have comprehensive coverage, you may benefit from your plan in the EU as well. However, this often comes with a short-term free period and might be as short as 30 days before additional fees.
  • It’s a myth that black cars and red cars are more expensive to cover. Studies show no correlation between vehicle colour and premium.

Cutting costs

As far as price, your best option is to shop around. This includes gathering quotes directly from insurance companies as well as using comparison sites.

One way to possibly get cheaper insurance is through black box car insurance. With this, you install a device on your vehicle that monitors your driving. It can gauge your speed, braking, and even how well you take corners. As a result, good driving is rewarded. But, as you can imagine, bad driving can cost you.

Easier ways to save

Completing an advanced driving course could also lower your insurance premiums. Being an Ambit user can actually get you money off one of these courses with IAM RoadSmart. Contact to find out more.