Businesses rely on commercial vehicles and fleets to get workers to the job or deliver goods and services to customers. The right insurance can help companies save dollars and avoid risks.
Here are some factors to consider to get the best commercial vehicle or fleet insurance policy for your business:
If you have three or more vehicles, a commercial fleet policy is recommended instead of insuring each vehicle with a separate policy. You’ll typically save hundreds of dollars by consolidating your business insurance under policy and save time with less bookkeeping, fewer payments and less record-keeping than you’d face with many individual vehicle policies.
You may qualify for discounts based on the number of vehicles covered, installed safety and anti-theft equipment and the safe driving records of your drivers.
You’ll usually pay higher premium for more expensive vehicles. Buying used vehicles may help you save on insurance.
How you conduct business with your vehicles can also impact insurance costs. Trucks used by trade professionals, such as a plumbing truck or an Heating Ventilation and Air Conditioning (HVAC) contractor’s van, are usually the least costly to insure. Vehicles that deliver goods to other businesses are usually the most expensive to insure.
Larger trucks typically come with larger insurance costs. Lighter trucks cost less to insure on commercial fleet policies than heavy-duty trucks. Trucks that weigh up to 10,000 pounds are considered light trucks and typically include vans, pickups and flatbed trucks). Medium trucks weigh between 10,001 and 20,000 pounds and include Mid-size refrigerated trucks and box trucks. Heavy duty trucks weigh more than 20,001 pounds and include beverage trucks and, farm trucks.
There are also unique insurance products for many specialized vehicles, such as tow trucks or taxi cabs. There’s also Seasonal Business Vehicle Insurance for companies that only use vehicles for part of the year.
Golden Global Insurance professionals can help you build a Commercial Vehicle/Fleet Insurance Policy that matches your business needs to help you save money and time. To learn more about Commercial Vehicle Insurance options for your business, contact Golden Global Insurance at 305-899-5125 today.