Making sure you have the coverage you need at the right price.
When you own a business, no matter its size, you understand the importance of obtaining the right coverage, so when it comes to commercial auto insurance, you need to make sure that you choose the right policy to protect your company while paying the best possible price.
To make sure you find the right coverage, there are a few questions that you should ask yourself.
It is important to take this additional step, because coverage for business vehicles is typically more expensive than an individual policy, so you will want to make sure that it will still save you money in the long run.
Use the following questions to guide you along the way:
• What type of vehicles need coverage? Depending on the type of company you have, it may or may not actually own the vehicles that the employees are driving. It is still important that they have coverage in case of a collision. Additional protection for the vehicles that employees drive can include anything from those that they own, lease, or even rent.
• Is a personal or commercial auto insurance policy required? Since coverage for businesses is costlier, it is important to know if it is actually necessary. There are some circumstances where you can cover the vehicle with a less expensive personal policy. If you name is on your vehicle’s title, then you can cover it with an personal policy. However, if it is owned by the company, you need a business policy. Remember that the personal coverage must have the level of protection that you need, as you will want it to protect the contents of the vehicle as well as the medical costs in case the driver is ever injured while working.
• Have you comparison shopped for commercial auto insurance? Remember that every insurer has its own way to calculate premiums, so the amount that you will need to pay can vary widely from one carrier to another. Make sure to receive a handful of quotes before making your final decision.