Ways To Lower Your Commercial Auto Insurance Costs

​Commercial vehicle insurance covers any liabilities and physical damage not included in your personal auto insurance policy. This policy covers various commercial vehicles such as trucks, cars, and vans. As ensuring your business is protected comes at a cost, there are ways to lower your insurance costs:

Prevent Accidents By Hiring Good Drivers
Prevention is always better. Before anything happens, it's always a good move to hire a good and responsible driver. Hiring a responsible driver not only shows customers your image as a company but ensures the vehicle's safety. 

Increase Your Deductibles
Deductibles are what you pay before the insurance company pays for any expenses. By increasing your deductibles, it automatically lessens your insurance costs. Although it might sound pricey, increasing your deductible amount of at least $2,500 can save you a lot of money. You can use those savings to buy umbrella coverage or even more liability. 

Understanding Your Loss Experience
Understanding your loss experience means being ready for possible damages and expenses that might happen. Loss experience is one of the factors which affect premiums. One way of resolving your loss experience is by consulting those with your broker. Ask your broker to deal with the claims as quickly as possible. 

Do A Cost-Benefit Analysis
One way of choosing an acceptable policy that's right for you is to do a cost-benefit analysis. Check your costs and benefits to know if you are required to have collision coverage. However, if you can afford to replace the commercial vehicle, you may want to rethink collision coverage. 

Make Your Drivers Do A Defensive Driving Course
Many insurance companies provide discounts if you let drivers go under a defensive driving course. Some drivers can also decrease the number of points in their licenses by taking precautionary courses.
 
Conclusion
As driving accidents are still occurring, auto insurance will undoubtedly continue to increase. Insurance companies only handle half of the burden. Being a precautionary person is what the world needs the most. They not only save money but also most importantly lives. 

At Howe Insurance Brokerage, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (435) 674-8771 or Click Here to request a free quote.