markalina725's blog

Running a successful business comes with costs, which can drastically affect your overall profit. Minimizing some of these costs is vital to becoming a more successful business. And one of the most important areas worth concentrating on for this to happen is commercial auto insurance, as it is very expensive for business owners.

 

Compared to other business insurance policies, commercial auto insurance is compulsory if you use vehicles for business. It tends to be a lot more expensive than personal auto insurance- especially if you have multiple drivers to insure. Luckily, there are numerous ways to reduce this cost. Here are a few methods to help make this possible.

 

Ensure Employees Have Good Driving Records

Among the biggest factors with the potential to affect your insurance premiums is you and your employees’ driving records. Employees with a bad driving record will cause your insurance rates to sky rocket. Meanwhile, good driving records across the board for all your employees will surely lower your insurance rates.

 

Make it the norm to check employees’ driving records before hiring them. This action could help you avoid taking on applicants with poor driving records who may end up costing you more in the long run.

 

Ask About No Claim Bonuses

When comparing insurance quotesfrom different insurers, it is vital that you inquire about no claim bonuses. After all, they can cause annual discounts every time you fail to make a claim. If you have never had to make a claim before on behalf of you or your employees, you may feel that this is a worthy benefit.

 

You might realize that most insurance companies offer no claims bonuses, but some give better bonuses than others. This is something worth asking about upfront to be in a better position to maximize your future savings.

 

There are numerous things you can do to save money on your commercial auto insurance policy. Ask about no claims bonuses, pay with EFT, or even raise your deductible. It is also essential that you consider comparing insurance quotes from more than three insurers.