What Influences Commercial Car Insurance The Most
For the businesses that depend on delivery or off-site services with company vehicles, commercial auto insurance is a must. This type of insurance is designed not only to protect other commuters, but also to protect your commercial vehicles and employees from expensive costs in case of an accident. Avoiding commercial auto insurance could be a direct hit to your business. If you understood the importance of this policy, you should also find out more about the factors that influence commercial auto insurance premiums. Also, you should visit our website and get free auto insurance quotes online.
- The value of the vehicles. Your insurance company will estimate the worth of your vehicles and the amount it would cost to repair them after an accident. The higher the cost, the more that you can expect to pay for the premium. Also, you should keep in mind that vehicles depreciate in value in time.
- Driving records of the employees. Depending on the personal driving record of employees who will be operating commercial vehicles, premiums will be higher or lower. If you want lower commercial auto insurance rates, hire only drivers with excellent driving records. Check with your local DMV to validate the driving records of people who apply to your company.
- Garage location. Where you keep your commercial vehicle(s) when it’s not in use affects your premiums. Parking them in a safe and monitored garage, preferable of the company, will lower the insurance costs.
- Business location. The location of your business matters because it determines how far your employees have to drive the vehicles. The more that time that the vehicles spend on the road, the more you’re going to pay in insurance premiums. If your vehicles are driven 20 miles a day as opposed to 10 miles a day, then it’s more likely that they will be involved in an accident.
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