Small Business Tips: 9 Ways To Save On Your Commercial Auto Insurance

The process of finding commercial auto insurance brokers can be a bit daunting and tricky. Fortunately, you have this post to guide you through it all. Read on as we list down some of the best ways to save up on your commercial car insurance.

Increase your commercial car insurance deductibles

Do note that if you opt for a higher commercial car insurance deductible, you’ll be able to pay less for your car insurance. Also, choose one that you can easily pay off from your own pocket money. Should you get into an accident, this will be an easy feat.

Always make sure to pay your insurance in full

Commercial auto insurance brokers would advise you that paying up the entire price upfront will help you save up to about 15% as a paid-in-full discount.

Check employee driving records before you hire a driver

This is a no-brainer. If you are going to hire a company driver, make sure that they have a good record. Not only will this lower the chances of them getting into an accident, but it also affects your premium. Having employees that have a good driving record can keep your premium low.

Be sure that your insurance carrier will add an “additional insured”

If your business heavily deals with contracts, having an “additional insured” feature as part of your commercial auto insurance is a great move. This will allow you to add another party to your policy.

Buy “rental reimbursement” coverage

This will help you save up on some cost because, if your commercial car got into an accident, this coverage will basically handle all of the expenses included in finding a replacement vehicle.

Buy “driver other cars” coverage

This coverage is particularly handy because it will allow you and your spouse to be able to drive another car for personal use. This is particularly similar to a personal auto policy.

Buy higher limits to ensure better protection

Any commercial auto insurance brokers would know that when it comes to insurance, it’s important that you choose one that will protect you from almost all types of scenarios. Understandably, you’ll want to keep your premiums low. However, you’ll need something that will protect you if you are sued.

Pay with EFT

Electronic fund transfer or EFT comes with the benefit of having a lower cost. A number of insurance companies would actually waive your installment fees if you pay via EFT.

Compare commercial auto insurance rates

Lastly, this is another no-brainer, especially if you are on the lookout for a great deal in the market. A great way to find the best commercial car insurance for your business is to compare what different insurance companies are offering. With this, you’ll be able to assess if one can satisfy your business needs over the other.

A company car is a great way to save up on some costs, especially if your business deals with delivering your goods and services. Moreover, do keep in mind that having commercial auto insurance is a great investment.

Insurance Brokers Of Maryland is on top of the list when it comes to the most trusted commercial auto insurance brokers today. If you want the best deal for your money, contact us today!