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What is commercial auto insurance?
Primarily, this is an insurance policy that is designed to diminish the risks involved with using vehicles for business purposes. Commercial vehicles are usually on the road during the busiest times of the day, while many are oversized vehicles like trucks that may need special licensing and require great skill to drive safely and securely. A good business insurance package should take all factors into consideration when offering an efficient commercial package policy that covers your business against losses and lawsuits stemming from accidents.
How much does commercial vehicle insurance cost?
Part of the cost of commercial vehicle insurance comes from the driving records and history of the drivers for your business. In order to keep your premiums at a minimal cost you need to ask your drivers for their driving records, which is usually available from the local Department of Motor Vehicles. If you want to hire a new driver and notice a history of accidents, moving violations or other issues on his or her record it is probably more cost effective to skip them and hire a driver that has a better record. Besides having lower premiums on your commercial insurance, you will also be saving money by protecting your vehicles and property from a reckless driver.
Another aspect of price in premiums is the value of your cars and trucks, the same process as personal auto insurance, the higher the value of the vehicle the higher the premiums. This is important to keep in mind when purchasing or replacing vehicles for your business. Before purchasing a new or used truck call your commercial vehicle insurance agent and ask them what the insurance rates are like for that particular vehicle. Based on that estimate you will be able to consider the value that vehicle will bring to your business versus the insurance cost. Sometimes buying used vehicles rather than new ones can help save quite a bit on commercial auto insurance premiums.
In order to get the best rates it is always advisable to combine all your vehicles under the same commercial auto policy. It is generally a bad idea to have multiple policies for your vehicles as most insurance companies will offer bulk discounts for multiple vehicles.
The experts at P&G Insurance will ensure that your commercial package policy includes all your company vehicles into the same package. Having your “Commercial General Liability” (CGL) and “Commercial Auto Insurance” in the same policy will help you save money with lower total premiums.
Having an experienced broker that knows the ins and outs of commercial insurance can really have an impact on your businesses bottom line, by eliminating excess insurance costs. Of greater concern is that a large percentage of businesses have inadequate insurance coverage. Unfortunately by the time they find out they were not insured properly it may be too late.
Many companies fail to take advantage of the many discounts available to their commercial policies, for the lack of knowledge their insurance broker has. The staff at P&G works on your behalf, not the insurance companies. For over 20 years, we have successfully provided insurance coverage for large and small businesses all over the United States.
To get a professional quote on your commercial vehicle or any other insurance your company might need just enter your name, e-mail address, and phone number and one of our staff members will contact you.
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