Make It Your Business to Be Properly Insured

With all that a small business owner has to oversee on a daily basis, worrying about their commercial auto insurance for company vehicles should not be one of those items.

Yet, many small business owners depend on both their employees and company vehicles to deliver goods and make contact with customers on a regular basis. Without the proper commercial auto insurance in place, the business owner can be put in a predicament that can lead to problems for their company.

There are many different ways to go about finding cheap car insurance, a number of which are simply common sense tactics that all small business owners should employ.

They include:

* Shopping around - Business owners are best served when they shop around for quotes. If you’re going online to look for commercial auto insurance for your business, don’t settle with the first company you come across. Get anywhere from three to half a dozen quotes for starters. Compare the coverage terms, prices, customer service, financial stability of the insurer and whether or not the insurer has a history of complaints lodged against them. Compare and contrast in order to find the best fit for your business;

* Put coverages with one insurer - Assuming you have renter’s insurance for your office space and/or a homeowners policy, consider bundling your coverage all with one insurer when you add auto insurance for your small business. Many insurance companies will offer discounts for individuals who have all their coverage with the same insurer. Doing this also makes it easier for the customer to have to deal with just one agent/company instead of a couple. Should you not have business vehicles, but employees drive their own vehicles on company business, you should have non-owned auto liability to protect the business in the event the employee does not have insurance or has inadequate coverage.  In many instances, the non-owned can be added to a business owners policy (BOP);

* Look at increasing your deductibles - Assuming you have employees that are safe drivers, you could consider going with a larger deductible so you can save some money on premiums. The catch here is that you want to make sure you have the funds available to meet such deductibles in the event an employee is involved in an accident with a company vehicle. It is important in today’s day and age of numerous lawsuits that business owners be prepared for a potential lawsuit involving even the smallest of accidents;

* Keep company vehicles up to speed - Another key facet to saving money on car insurance is making sure your company vehicles are suited with air bags, anti-lock brakes and any other current safety features. Many insurance companies will consider discounts for customers whose vehicles are fitted with the latest safety features;

* Review safety importance with employees - Whether your small business is delivering pizzas or meeting with important clients out in the field, reviewing safe driving techniques with your employees is a must. Even the most seasoned of drivers can be rushed, distracted, and an accident waiting to happen. When they get in an accident, you ultimately end up paying the bill with higher auto insurance rates for your business. Review safe driving techniques a couple of times a year with employees so that they are not putting themselves and your business at risk each time they hit the road representing you.

About the author

Dave Thomas writes for a variety of websites on topics such as human resources and running a small business.

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