Guide

Insurance: business property and assets

Commercial vehicle insurance

By law any vehicle used on the road or other public place must be covered by a motor insurance policy. See motor insurance explained.

Vehicle insurance for business

If you, your employees or anyone else working for your business uses a vehicle for work then you should check that:

  • all vehicles owned by your business, such as cars, vans or lorries, are covered by appropriate insurance
  • any employees' vehicles used for or in connection with business have their insurance extended to cover use for their employer's business
  • any personal vehicle insurance that you may have also covers business use

You should also make sure that the insurance cover provided by the policy is appropriate as there are different classes of business use. For example, travelling sales people or commercial representatives are considered differently from those making only occasional business trips, or who carry your products or other business assets.

See commercial motor insurance.

Business fleet insurance cover

If you own several vehicles you may be able to get business fleet cover that might offer better terms. Your insurance broker will be able to advise you on this. Find an insurance broker.

You need to check the licences of all your drivers and advise your insurers of any motoring convictions. Otherwise, you will not be properly insured. You will also need to tell insurers of any motoring convictions that happen after any insurance policy is in place. See fleet management.

If you choose to deal directly with an insurer, it's worthwhile checking that they are a member of the Association of British Insurers (ABI).