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Commercial Auto Insurance Information
General Liability
Commercial Auto Insurance premium is based on your level of risk. Insurance carriers want to know the likelihood that you will have an accident, injury, lawsuit, etc., and make an insurance claim. Your level of risk is based on – your drivers, your vehicles, where and how far you drive. The lower the risk, the lower the premium.
You can take many obvious steps to reduce your insurance costs, such as increasing your deductible and bundling policies. However, there are a few other ways that can help you reduce cost that may surprise you.
5 Surprising Tips to Lower Commercial Auto Insurance
1. Leverage Technology:
Technology can offer a range of ways to help reduce commercial auto insurance premiums. Telematics is used to monitor and measures driver behavior and vehicle use. Trackers, Alarms and Immobilizers help prevent theft. Cameras can detect who is at fault in a crash. All of these tools reduce risk and help lower insurance costs.
2. Maintain Good Credit:
When you apply for business insurance, the rates can be influenced by your insurance credit score. The insurance credit score was developed specifically for insurance purposes, and it is not the same score that a mortgage company or a car dealership would be looking at. It is mainly your ability to pay bills and debts on time as opposed to your credit history. A poor insurance credit score can often result in much higher rates, while a good insurance credit score can get you access to discounts.
3. Vehicle Maintenance:
Having a fleet of younger vehicles can help you save on your insurance premiums. Newer vehicles have up-to-date security, making them harder to steal while also having better safety features. Keep your vehicles in good condition. If your vehicles are well maintained you reduce the risk for breakdowns, incidents and crashes. Also make sure that your vehicles are securely stored overnight.
4. Hire Safe Drivers:
When hiring new drivers make sure you review their MVR, consider their prior driving experience, and require a road test. Unsafe drivers can increase operating expense, including insurance by almost 13%. Make sure that you monitor and train your younger drivers because they are more prone to dangerous driving which results in insurance carriers increasing rates. Consider isolating drivers that do have a poor driving record by placing them on a separate policy.
5. Choose the Right Commercial Insurance Agent:
An experienced insurance agent specializing in Commercial Insurance can help ensure that you get the right insurance, that you aren’t paying for insurance you don’t need, and that there are no gaps in your coverage. An independent insurance agent will check with several insurance companies to ensure you pay the lowest premium.
One Source Insurance: Broad Commercial Auto Insurance for Fleet Vehicles in Michigan
Understanding Commercial Auto Insurance for Fleets
Why Choose One Source Insurance for Your Fleet Insurance Needs?
1. Experience in Commercial Auto Insurance
2. Tailored Coverage Options
3. Broad Protection
- Liability Coverage: Protection against legal claims and lawsuits resulting from accidents involving your fleet vehicles.
- Physical Damage Coverage: Coverage for damage to your vehicles caused by collisions, theft, vandalism, and other incidents
- Medical Payments Coverage: Coverage for medical expenses incurred by drivers and passengers in your vehicles due to an accident.
- Uninsured/Underinsured Motorist Coverage: Protection against damages caused by drivers who do not have adequate insurance.
- Hired and Non-Owned Auto Coverage: Coverage for vehicles that you rent or do not own but use for business purposes.
- Fleet Management Support: Assistance with tracking and managing your fleet to ensure optimal performance and safety.
4. Superior Customer Service
5. Competitive Rates
How One Source Insurance Supports Michigan Businesses with Fleet Insurance
Case Study 1: Ensuring a Delivery Service’s Continuity
John operates a successful delivery service in Michigan, with a fleet of 20 vehicles. He approached One Source Insurance to secure broad coverage for his fleet. Our team conducted a thorough assessment of his business operations and designed a tailored commercial auto insurance policy.
When one of John’s delivery vans was involved in a multi-vehicle collision, the insurance policy covered the repair costs and provided liability protection, ensuring that John did not face financial hardship. Additionally, our team assisted him in implementing fleet management practices to reduce future risks.
Case Study 2: Protecting a Construction Company’s Assets
Sarah manages a construction company with a fleet of trucks and heavy-duty vehicles. Understanding the critical role these vehicles play in her business, she sought out One Source Insurance for a robust insurance solution. Our team provided a customized policy that included physical damage coverage, liability protection, and uninsured motorist coverage.
When one of Sarah’s trucks was stolen from a job site, the insurance policy covered the replacement costs, allowing her to continue her projects without significant delays. Our approach to fleet insurance helped ensure that Sarah’s business assets were protected against various risks.
Steps to Obtain Commercial Auto Insurance for Your Fleet with One Source Insurance
1. Initial Consultation
2. Customized Policy Design
3. Policy Selection
4. Ongoing Support
Contact One Source Insurance Today
Conclusion
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