Owning and managing a business is one of the most difficult things you can do in life. And owning a fleet of vehicles certainly doesn?t help. Vehicles constantly need maintenance and repairs and the welfare of your drivers may also be of concern. All of these can take a toll on your finances and may even put your business at risk. That is why it is always a good idea to insure your commercial vehicles properly.
While commercial auto insurance may be a bit costly, there are ways through which you can reduce your rates. It may not make fleet management any less stressful for you, but it can surely reduce your expenses.
Your insurer may offer you various discounts especially when you?re insuring two or more cars. Don?t hesitate to ask your agent about the many ways you can reduce your premium.
Here are some unique discounts you should ask about:
- Discounts for buying insurance policies with the same insurer.
- Discounts for successfully operating your fleet for 3 or more years. Having experience on?this line of management may categorize you as a low-risk customer.
- Discounts for having licensed commercial drivers.
- Discounts for paying in full.
In the insurance world, a deductible is the amount of money you?re willing to pay out-of-pocket when your commercial vehicle gets damaged due to an accident. This means that the higher your deductible is, the lower your insurance premium will be. Keep in mind that you should only choose higher deductibles only if you are capable of paying it anytime. Remember that accidents are unpredictable.
Drivers with Good Driving Record
It is important to hire drivers that have good driving records. A driving record is one of the major determinants for your commercial auto insurance premiums. Employees with excellent driving records can help reduce the risk of accidents and thus will give you lower rates.
Using electronic fund transfer as mode of payment may offer you savings on administrative fees. Your insurance premiums will be deducted automatically from your business bank account. This will also help reduce the risk of late payments.
Bear in mind that the cheapest commercial auto insurance policy out there may not be the best policy for you. Choosing the best value for your money is important. Here at Velox Insurance, we want to ensure that you?re properly covered with the right commercial auto insurance. To get an estimate of how much your premiums will be, you can get a free quote here. Or you can contact us by calling 1-855-Go-Velox (468-3569) or visit us at our office nearest you.