Business Insurance and Common Sense : Why do you provide your employees with company-owned vehicles?
If you work in the transportation sector, it’s self-explanatory. Otherwise, company cars are seen as a luxury and it is believed only the most important employees in a company get such a vehicle.
However, the truth is more and more business owners choose to provide their employees with a company owned car as a way to reward them, or as a way to help them do their jobs (especially for those who are working on the field) in Freeport, Hempstead, Longbeach, Long Island, Nassau County, Oceanside, Suffolk County, Westbury.
But then a new problem arises for the business owner: how do you take care of these cars?
If you are thinking that your business insurance Long Beach will cover for them, you might be wrong. Business insurance Hempstead might not be enough as it might not cover your car fleet needs… And since you are compelled by law to have at least some sort of car insurance, your business insurance Long Island will not suffice.
What is the solution?
You could contact your business insurance Freeport company or your broker and talk to them about this issue. Maybe they have an ace down their sleeve and they can modify your business insurance Freeport to cover for cars as well (although the chances for this to happen are small).
Then, another solution could be to have your employees pay the insurance. If it is too much for them, the company could split the insurance with the employees. This way you only pay half of the insurance price and your employees contribute to it as well. However, make sure that this practice is legal – talk to your business insurance company or better yet to a lawyer before you add this practice into your systems.
Last but not least, ask the insurance company for car insurance. It doesn’t have to be expensive, but at least you will not break the law…