Whether you only have a few vans or a large fleet, getting commercial vehicle insurance for your company cars is vital. Logistics managers are always looking for the best vehicle insurance for their fleet, which is a valuable asset.
Commercial vehicles pose a greater risk than personal vehicles because of the valuable cargo they often carry, their size, and special licensing requirements. However, you can still find great deals when looking for commercial vehicle insurance with the following tips:
Table of Contents
Consider Many Options
First, you must know your options when shopping for commercial vehicle insurance. Insurance providers will often have different rates and policies suitable for other companies.
It would be best to scrutinize as many policies as possible to find the right one for your commercial vehicle fleet. Affordability will be critical when comparing premiums and fees from different underwriters. You can check affordable car insurance quotes on CheapInsurance.com.
Questions you need to ask yourself to make the right decision include how much coverage do you need? Are you interested in specific policies? What is your fleet’s driving record? Can the coverage handle additional vehicles to your fleet? Answering these questions gives you a great chance of finding the right deal for commercial vehicle insurance.
Company History of Settling Claims
Insurance companies are infamous for doing everything they can to avoid settling claims. It is expected as the fewer claims they pay, the more money they make. Therefore, you should make a point of checking the history of settling claims.
However, a company should compensate clients in case of accidents in which the latter were not at fault. Also, ensure they make settlements promptly without giving clients the runaround.
When insuring a commercial fleet, you want to deal with a commercial vehicle insurance provider that has integrity and is dependable. Otherwise, you will be paying much in premiums and getting nothing in return.
Ask For Discounts
Like any other business, insurance companies do offer discounts to clients. You should check which discounts insurers provide when looking for a commercial vehicle insurance provider.
Some will offer discounts to new clients, while others may offer discounts depending on your vehicle. It does not hurt to ask for a discount as it can substantially reduce the cost of an insurance policy. You need insurance for your business and vehicles, so the best deal should be the most attractive one, which will probably involve a discount.
Long Term Provider
When looking for an insurance company for your commercial vehicles, it is best to think long-term. A company is more likely to offer you a great deal if they know you will be a long-time partner where both of you benefit.
Therefore, ask insurance providers how long they can provide your fleet coverage and if there are benefits to being insured for five or more years. An advantage you can gain from getting insurance coverage for the long haul is that premiums are likely to be less if you pay annually instead of monthly.
Risk Management
The more risk an insurance provider deems your fleet to possess; the more expensive the coverage and the more stringent conditions the policy will include. To get the best deal for your commercial vehicle insurance, you must showcase your company’s risk management practices.
Such practices may include driver testing, vehicle maintenance, and regulation compliance. Ensure they understand how minimal the risk is when they insure your company, and they will likely come out on top when providing you with coverage.
Getting the best deal for your commercial vehicle insurance takes some doing. You should consider as many options as possible, ask for discounts, review the company’s history of settling claims, look for a long-term provider and educate them on your risk management practices. If you do, you increase the chance of finding the best deal.
About Carson Derrow
