If your business maintains a fleet of vehicles, you need to carry commercial auto insurance. This insurance will protect you financially if you or an employee gets into an accident. Commercial auto insurance policies typically cover damage to the vehicle, damage to others’ property, and medical bills incurred by anyone injured in a crash. When the worst happens, it is such a relief to know your business is not liable for these expenses.
As important as commercial auto insurance is, the cost sometimes comes as a shock to business owners. Thankfully, there are plenty of ways to save on commercial auto insurance. One of the best ways to keep your premiums affordable is to work with a local insurance agent. Here are a few of the key ways in which local agents can keep your premiums affordable.
There are many different insurance companies out there, some of them small and local, and others large and national. Seeking quotes from all of these various companies is time-consuming. Plus, you may always wonder if one of the companies you never got around to contacting would have had a better rate.
When you work with an independent, local insurance agent, that agent can shop around for you. They’ve worked with numerous businesses in the past, and they know which insurers tend to offer the best rates on commercial auto insurance. As such, they won’t waste time dealing with companies that were never going to give you a great rate in the first place.
Your agent can get quotes from several companies that they know offer good, affordable coverage. They can then walk you through those quotes and help you compare them, ensuring that you choose a policy that’s not only affordable but also a good value in the long term.
Assessing Your Needs
What coverage do you really need for your commercial fleet? There’s some coverage that is always recommended, such as collision coverage and bodily injury liability coverage. However, more specific needs vary between businesses. For instance, you may need extra bodily injury liability coverage because your employees drive heavy dump trucks. Another business that drives compact cars to private homes may not need this coverage.
A local insurance agent will take the time to get to know your business, how it operates, the kinds of vehicles you drive, and other key details. This allows them to fully assess your needs and recommend the right coverage for you. As such, you won’t be paying higher premiums for coverage you didn’t need in the first place. And if you do have to file a claim, you won’t discover you’ve spent years paying premiums on insurance that won’t even cover your needs.
In other words, a local agent will ensure you only pay for coverage that you need — and that the coverage you do pay for meets your needs.
Most commercial auto insurance companies offer discounts for policyholders who belong to certain organizations, work in certain industries, or hold certain professional titles. These discounts vary between insurance companies, and the insurer won’t always tell you about them unless you ask. Local insurance agents know which insurers offer these discounts, and to whom.
When you begin working with a local insurance agent, they’ll typically ask about your professional affiliations and memberships. They’ll take this into account when shopping around for the best rates. If you join a new organization in the future, you can let your insurance agent know. They’ll ensure that if you are eligible for any additional discounts, they are properly applied to your premiums.
Sometimes, insurers offer discounts on commercial auto insurance to companies that have their employees take road safety classes or driving classes. Your insurance agent can let you know about these discounts so you can sign your employees up for the relevant classes.
Chances are, commercial auto insurance is not the only insurance your business needs. You probably also need general liability insurance. If you have employees, you’ll need to carry workers’ compensation insurance and payroll administration coverage.
When you bundle your commercial auto insurance with your other commercial policies, you will often pay lower premiums. A local agent can make sure your insurance policies are bundled together in the way that provides you with the best discounts.
If your business owns vehicles, then you absolutely need commercial auto insurance. Working with a local agent is the best way to keep that insurance affordable. Contact Flagler County Insurance Agency if you’re looking for commercial auto insurance coverage in Florida. We take pride in getting to know our customers and providing for their unique needs.