Reduce Cost of Commercial Vehicle Insurance

by

Aaliyah Arthur

When running a business, it\’s crucial to have adequate commercial vehicle insurance to cover the company cars, trucks, and vans. Whether you run a daycare center with a van that transports children, a catering company that hauls food and employees to events, or own a fleet of moving trucks, reducing your liability and protecting your assets is imperative. This expense isn\’t just helpful; it is mandated in most states. Insuring your company cars will protect your property, your drivers, and others on the road. There are ways you can reduce costs.

Multiple Cars/Trucks/Vans

If your business has more than one car, truck, or van, you may be eligible for multiple-automobile discounts. You can also receive a percentage off your premiums if you use the same agent for all of your policies such as rental, property, and fire coverage. These discounts can really add up and improve your bottom line.

Comparison Shop

It\’s wise to compare the rates of several companies. You will find a wide range in premiums for the same policy at different companies. Be sure you\’re comparing apples with apples, however. Know what you want in deductibles, limits, and all details in the fine print when looking at the options. You can even use brokers who will shop different rates for you. Of course you will have to pay a fee, but you might end up with the lowest premiums available in commercial vehicle insurance.

Deductibles

Consider raising your deductibles to reduce your premiums. The deductible is the amount paid by the owner if a claim is filed before the insurer steps in to cover the balance. Options for deductibles vary and can be as low as $250 and as high as $2,500. You could save substantially on your premium by having a higher deductible.

Safety Courses

Another way to save money on your commercial vehicle insurance is by having your employees take safety courses. Most insurers offer lower premiums to business owners when their employees have completed safety courses. Some online classes are available that make this option extremely convenient.

Annual Premiums

You can pay for your commercial vehicle insurance monthly, semi-annually, or annually. While it might seem convenient to pay this bill every month, it will cost you more in the long run. Monthly bills usually have service charges to cover the cost of mailing the statement to you every four weeks. If you pay annually, your premium will be lower.

As a business owner, you have plenty of responsibilities and expenses to ensure that everything runs successfully. While commercial vehicle insurance is a mandatory expense, it doesn\’t have to take such a huge wedge out of the financial pie. By looking into multi-car discounts, comparison shopping, raising your deductible, having your employees take safety courses, and paying your premiums annually, you can substantially reduce your costs.

When you need commercial vehicle insurance, Louisiana has a solution in American Insurance Brokers, Inc. To find out more, please visit 

americantruckinsurance.com

.

Article Source:

ArticleRich.com