MONDAY, JUNE 14, 2021
When it comes to getting business insurance, don't forget about some of your most important assets: company vehicles. Commercial auto insurance is a necessary type of insurance for any type of business that operates a vehicle to perform work duties. But don't just purchase any policy that’s available. Rather, take a step back and compare options in coverage, exclusions and costs with your independent insurance agent. The lowest price for commercial auto insurance is rarely the best policy you can find. Don't make these mistakes when purchasing this type of business insurance. 
#1: Don't Focus First on Cost
When purchasing commercial auto insurance policies, look beyond the premium. A key component of this investment should be in the actual coverage limits in place. If the insurance plan has minimal or insufficient limits, it can impact your ability to recoup your losses after an accident. Ensure the policy can help cover all aspects of the loss thoroughly and provide replacement vehicle coverage as needed. Keep in mind that you may qualify for discounts on that premium, including discounts related to a lack of claims or multi-policy discounts.
#2: Consider Fleet Coverage
Many insurance providers offer coverage that extends to an entire fleet of vehicles. If you have two or more vehicles, you may qualify for this type of plan. Because it covers numerous vehicles at a time, it can be more affordable than covering vehicles individually. In fact, some businesses may even provide employees with vehicles as an incentive and then use fleet coverage to reduce costs. This can help save a business money, while ensuring that all company cars are protected.
#3: Ensure You Have Full Liability and Asset Protection
Discuss your risks with an agent. Learn what you are most likely to face in terms of financial loss. Liability insurance is often one of the biggest concerns. Though all vehicles need to have certain levels of liability insurance (determined by state) to operate on public streets, this is generally a fraction of what businesses truly need to minimize risks. If your delivery truck hits a pedestrian, you could possibly be sued well beyond the risks associated with a basic policy. These lawsuits can be expensive, and comprehensive protection is nearly always beneficial.
Look at commercial auto insurance as a valuable form of business insurance. Invest time into finding the right level of coverage for your specific needs. Doing so can help save you money down the road. A single lawsuit or accident is enough to prove the importance of these policies.
Get the coverage that best fits the needs of your business. Call Stewart Kriese Ins Agency, Inc.at for more information on Oakdale commercial auto insurance.
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