Commercial Auto Insurance Rates
If you have any number of company vehicles, you know the importance of a commercial auto insurance policy. A commercial auto insurance policy will provide the coverage that you need to protect your company cars, as well as your employees while they are on the road.
There is not flat rate that comes with a commercial auto insurance policy. There are many factors that will determine your premiums, including:
- Driver’s driving records – just like your own personal auto insurance policy rates will depend on your driving record, your commercial auto insurance rates will rely on the records of your driver’s. Before you hire any drivers, make sure to check their driving record. Hiring people with great driving records will help to ensure that you get the best rates.
- Value of your vehicles – how much your company vehicles are worth will help to determine your rates. The more your cars are worth, the higher your rates will be. Keep in mind that the values of your cars will decrease overtime, so make sure to check your policy every few years to see if you can lower your premiums.
- Location – the location of your business and how far your employees have to drive to get a job done will have a large impact of your premiums. The more your company cars are on the road, the higher the risk that one of your driver’s will be involved in an accident, leading to higher premiums.
- How you buy your insurance – if you have many different vehicles, you have the option to insure them all separately. However, it may be a better choice to insure them under one policy, since you will most likely save a lot of money.