Many companies require commercial vehicle to carry out business. Commercial vehicles are a source of income and it is essential to have those vehicles insured. Even if you run a small business and own only few vehicles, you are better off protected. A personal insurance doesn’t cover business expenses and isn’t sufficient.
Insurances aren’t easy to comprehend in the first glance and with commercial auto insurance many aren’t sure how to select the right coverage policy. If you are looking for commercial auto insurance in Texas, contact American Insurance Brokers Inc and discuss about your coverage needs. They will lay out the options available and help with choosing the ideal coverage policy.
Tips on choosing a commercial auto insurance plan:
- Does the policy cover hire and non-hired vehicles? There may be situations when you hire a vehicle for your business needs. Opt for a policy that covers hired vehicles.
- Will the insurance carrier add an ‘additional insured’? The term refers to a person or entity covered under another party’s insurance policy. If your business involves contracts, you may be required to add them as an additional insured.
- ‘Drive other car’ coverage: If you are a business owner and all your vehicles are owned by the company, it is likely you won’t have a personal auto insurance policy. If your commercial auto insurance policy covers ‘Drive other car’, you are covered even if you drive a friend’s vehicle for personal use.
- ‘Rental reimbursement’ coverage: If your commercial vehicle has to go in for repairs after an accident, having this coverage will cover the costs of the replacement vehicle rented.
How to save more when purchasing a commercial auto insurance policy?
- Hire employee after checking their driving records: The driving records of an employee impacts your premium. Those with poor driving records affect your premium and put your business at risk.
- Purchase higher limits: People want to cut down on their premium which is understandable but what if the coverage plan is insufficient when you are sued? You could also think about getting an umbrella liability policy.
- Pay with EFT: There are many insurance companies that waves instalment fee when you pay using EFT. This saves you money, your time and you won’t miss a payment which would result in a cancellation.
Keep the worst-case scenario in mind before signing a commercial auto insurance plan. The insurance plan you choose must be affordable yet cover you.