When owning and driving vehicles is central to your business, commercial vehicle insurance rates are a major consideration. Finding average commercial vehicle insurance rates is not an easy task because there are so many variables affecting the cost of coverage. While you may find online insurance websites that provide quotes for your commercial car, bus, taxi or truck, the details of the coverage are often hidden from view.
Your premium costs are affected by many factors, including the type of vehicle your company owns and the risks involved. Low priced online quotes may not accurately reflect the coverage you need for the potentially large liability involved in commercial incidents. Find an agent in the Trusted Choice® network today to get commercial insurance quotes that are relevant to your business at a rate you can afford. These agents can shop for the best rates, find discounts, and combine multiple business policies in order to simplify your life and save you money.
Your commercial vehicle insurance rates will be affected by a number of factors, including the following:
Businesses use vehicles for many different purposes. For instance, a construction company may have a company car that travels from one job site to another, as well as several commercial trucks to haul lumber and building supplies. Your commercial vehicle costs will be affected by your liabilities with regard to each of these vehicles, the potential loss in the event of an accident and other factors.
It is a good idea to do an annual review of your insurance portfolio, commercial vehicle inventory, drivers and commercial vehicle insurance rates as many things can change. You may qualify for additional discounts, for example, if your company remains claim-free. If your use of your cars, trucks or other vehicles has changed, you want to make sure you are not paying too much for coverage; by the same token, you’ll want to make sure your coverage is fully updated to match your needs and there are no coverage gaps.
One of the most important coverage types to assess on a regular basis is your company liability. Because lawsuits involving commercial vehicle accidents can result in very large judgments, making sure your commercial vehicle liability is adequate is essential. Many business owners who have one or more commercial vehicles consider purchasing a commercial umbrella policy to cover excess liability costs above what is built into a standard policy. An umbrella liability policy will increase your commercial insurance costs, but it can be a surprisingly affordable policy for the amount of protection it provides.
A local independent agent in the Trusted Choice network who specializes in business insurance can help you find a commercial auto insurance policy at a cost that matches your budget. Member agents in this network partner with several different insurance companies, and can help you to compare options and prices and make an informed choice.
Your commercial insurance agent can answer any of your questions and work with you to protect your property and your employees. Contact a Trusted Choice member agent now, and get the support you need to find the right commercial vehicle insurance rates for your business.