When any business uses vehicles for business purposes it needs to have commercial auto insurance.
Personal auto insurance will not cover vehicles that are in commercial use. A commercial auto insurance policy will protect the business and cover vehicle damage and health needs caused by accidents, third-party injuries, uninsured motorists; and more. Commercial auto insurance policies cover rented and non owned vehicles and have liability limits that are higher than personal auto insurance policies.
Factors that are considered are: the ownership of vehicles in use; the drivers of the vehicles use din the business as well as the purpose. Before buying a commercial auto policy you will need to gather and provide information on type and number of vehicles; make of vehicle; model; mileage; year of make; road record; and purpose of use.
When buying a commercial auto insurance policy you need to:
1. Comparison shop for a commercial auto insurance policy offline and online.
2. Understand the fine print of a policy clearly.
3. Take steps to reduce insurance costs by installing safety devices on all vehicles as well as anti-theft devices.
4. Take care that all those who drive vehicles have good driving records and also take defensive driving courses as recommended by insurance companies and state laws.
5. Take care to park vehicles covered by the commercial auto insurance in indoor or secure parking lots. Where a vehicle is parked has an impact on the premiums as also the make of the vehicles.
6. Try and reduce commercial auto insurance premiums by considering aspects like higher deductibles and higher liability limits. The higher the deductible the lower is the premium to be paid.
7. Ensure that all vehicles in use are listed in the policy. And ensure that the maintenance of all vehicles is taken care of.
8. Include in the commercial auto insurance coverage permanently attached items like winches, storage units, or generators.
Read all about commercial vehicle insurance. Buy a policy from leading companies who are established and reliable. Check with the Chamber of Commerce and other associations whether they are offering any special group discounts on commercial auto insurance. Read articles and guides on the World Wide Web and familiarize yourself on the kinds of policy sand coverage available. Always get multiple quotes for commercial auto insurance using online tools and compare products. Before purchasing a commercial auto insurance policy read through the document in great detail to ensure that there are no overlaps in coverage between this policy and other insurance policies and that you are getting great benefits.
Save on higher premiums by increasing deductibles, choosing to pay insurance in full, opting for EFT payment, asking the insurance company for a multi-policy discount, finding about experienced business discount and experienced commercial driver discount.
Be a smart business person!