If you own a business, you know that to run it you need equipment to operate. Some business equipment you could need are cars. If your business uses a car in its operation, you may need to purchase the protection of a commercial vehicle insurance policy
. These are some factors to help you determine if your business is required to carry a policy like this:
If your vehicle is owned by your business or corporation
If your employees regularly operate your business vehicle
If you are in the delivery or transportation business
If you lease your business vehicles to others
If your vehicle has a gross weight or load capacity over a specific number
If your vehicle has specific features that qualify it as a commercial vehicle
If your vehicle needs extra liability protection because of your line of work
When you are ready to equip your business vehicles with proper commercial auto insurance, make sure that you use these tips:
Manage Your Credit Score: Some insurance carriers will use your credit score to help in determining your rate when you purchase an insurance policy. Keep an eye on your credit score, you can sometimes save yourself money.
Never Let Your Coverage Lapse: Insurance policies lapse for three reasons; failing to pay a policy’s premium when it is due, insurance cancellation, and not renewing your commercial vehicle insurance policy. It is your job to ensure that your business is always covered. If you allow your policy to lapse, you will almost certainly need to pay more for your next policy, since insurance providers will ask to see proof of prior insurance coverage.
Choose Your Employees Wisely: Making sure you are diligent in your choice of employees when you are in need of an employee that will drive your company cars. Get a copy of the employee’s driver’s license and inform them that you will review their Motor Vehicle Report (Frimark/Keller & Associates can help you with this process in some cases. Give us a call).
It may not be necessary for your drivers to have a commercial driver’s license, you may want to look for an employee that has their CDL.
Choose a Plan That is Right for Your Business: We know every business is different and every business has different needs. For these reasons, your business deserves a commercial vehicle insurance policy that is unique and not just a cookie-cutter policy. Working with an independent insurance agency, like Frimark/Keller & Associates, we will get to know you and your business to get you the best protection.
Frimark/Keller & Associates has been insuring local commercial auto policies since 1910. We will work with you to get the best possible rate without giving up any protection for your business. Give us a call today at 847-907-4520.