Whether you own a fleet of vehicles or only one or two for your business, and your business requires the protection a commercial auto insurance plan provides.
There are many types of business that need commercial vehicle insurance, including:
- Delivery services (restaurants, florists, laundry services, linen services, etc.)
- Construction businesses
- Building contractors (painters, plumbers, electricians, etc.)
- Food trucks
- Utility Companies
- Transport people
Essentially, any business that has employees operating owned, leased, or rented vehicles to conduct business for your organization requires commercial auto insurance. Even if your employee owns the vehicle, it is in the best interest of your business to invest in non-owned vehicle insurance.
People who contract to other companies, like Uber, Lyft, Grubhub, or Amazon Flex, may require a specific type of rideshare insurance coverage in addition to their standard personal insurance. However, some insurers require them to purchase commercial insurance.
Work with our agents to determine which kind of coverage works best for your needs.
What Kind of Commercial Auto Insurance Do You Need?
Like most types of insurance, there is no one-size-solution for all businesses when it comes to commercial auto insurance. Every business has different needs.
Working with an independent insurance agency can help ensure that all your commercial vehicle insurance needs are met with the policy you ultimately purchase.
These are a few of the types of commercial auto insurance protection you may need for your business.
- General auto liability insurance
- Medical payments coverage
- Comprehensive and collision protection
- Personal injury protection insurance (PIP)
- Uninsured / Underinsured motorist protection
- Umbrella insurance coverage
- Protection for prototypes
- Cargo insurance
- High-value cargo insurance
These are just a few samples of the types of commercial auto insurance your vehicles or fleet of vehicles may require.
How Can You Save on Commercial Auto Insurance?
Businesses concerned about the cost of insurance – and who isn’t – can save on their insurance costs in a number of ways. These are some of the top methods to consider:
- Bundle policies with the same company.
- Invest in GPS or telematics. When insurance companies can review driver records, with GPS tracking, they are more inclined to offer the benefit of the doubt to the organization in the form of reduced insurance rates.
- Actively seek to reduce risks throughout your fleet with policies and practices improving safety.
- Work with an independent insurance agency so that you have a wider range of options available for coverage and costs.
- Ask for and utilize discounts that may be available to you.
- Establish policies that protect your drivers and your cargo.
- Increase deductibles.
- Boost your credit score.
- Vet your drivers carefully to make sure you hire only safe drivers.
While there are many options to reduce your insurance costs, the most important is to make safety a priority throughout your entire organization.
Creating a company culture that has safety front and center is best for your fleet, your drivers, and your bottom line. It may take a year or two, but it will eventually reflect in the price you pay for your commercial auto insurance as well.
Generazio Associates, Inc. is an independent insurance agency believing in helping local businesses with exceptional insurance products and services each and every time.