Individuals and businesses alike usually acquire a variety of assets, such as a personal or company car. These assets are investments that should be protected as they are valuable and their loss would have a negative impact. When it comes to determining the best way to protect your company cars, legal specialists such as Motor Accident Legal Service can provide you with the safest and most thorough course of action. Below you will find just some of the reasons why you should act now.
Although being without a personal vehicle can be a hassle and an inconvenience, having a company vehicle out of commission all of a sudden can damage your business. If your company relies on vehicles to deliver a product or service, it becomes much more than an inconvenience. Missing a delivery deadline can hurt your bottom line and leave you with a reputation for inconsistency and a lack of professionalism.
The process of getting a company vehicle back on the road always takes time and in business, time is money. If the vehicle is not protected, there will be a lengthy legal process that will keep the car off of the road even longer.
Having a company car thoroughly protected is especially important since company cars typically see more time on the road than a personal vehicle. More time spent on the road results in increased chances of the vehicle being in an accident. The vehicle will likely travel more distance and having a roadside assistance plan can also be a good idea.
It’s not that Difficult to do
Ensuring that your company car has proper legal protection does not have to be expensive. Often, it is possible, and suggested, that the vehicle is covered under the same policy as other assets owned by the company. Discounts are usually offered if the vehicle is added to a policy covering the building the company operates out of along with other equipment that can be claimed in case of theft or damage.
Unlike a personal vehicle that is mostly driven by one person, company cars are often driven by different employees or company representatives. When not driving their own vehicles, there is a lack of sense of ownership which may lead them to drive more carelessly.
To prevent any legal obstructions in case of an accident with a company vehicle, it must be maintained in a roadworthy condition. This means that the vehicle must have the correct size and type of tyre as well as the recommended pressure in the tyre.
There is enough to think about while managing a company and worrying about the company cars should not one of them. Be sure to have the proper protection on all of your company cars for peace of mind and to avoid legal hassle in case of an accident. A little bit of time invested in ensuring proper coverage will pay off in the long run.
Is your company car protected? What measures do you have in place? Comment below to share your answers, suggestions and personal experiences.