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Commercial vehicles are the lifeblood of many businesses, but a liability suit arising from an accident can threaten everything you’ve built. A commercial auto insurance policy provides valuable protection if the unexpected occurs, but most business owners would prefer to avoid these unfortunate incidents in the first place. Below are a few tips for minimizing risks, lowering insurance premiums, and ensuring you have all the protection you need.

How to Lower Commercial Vehicle Insurance Premiums

1. Vet Drivers Carefully

Commercial auto insurance policies are written under your business name, covering all employees authorized to drive your company vehicles. Employees with poor driving records will drive up your premiums, as insurance companies assume they’re more likely to cause an accident in the future. Therefore, ask potential hires for their driving history and confirm their statement with the DMV.

2. Invest in Continuous Training

Every driver, even those with years of experience, can benefit from safety courses designed to prevent accidents and improve their skills. Because safe driver programs are so effective, many commercial auto insurance agencies offer substantial discounts to companies that provide employees with additional training.

3. Speak to an Insurance Professional

commercial auto insurance Minimizing your company’s exposure begins with having a policy tailored to your needs. After reviewing your finances, the type of vehicles being insured, and your employees' histories, among other factors, an independent insurance broker will compare policies from several different carriers to ensure you get one with adequate coverage, but without features that you don’t need.


 

As a broker with the state’s oldest insurance firm, Jesse Wicks of ISU Insurance Services of Colorado has the expertise to get you the coverage you need. As an independent broker, he offers commercial auto insurance policies from many of the nation’s leading insurers, giving business owners peace-of-mind that an accident won't harm their financial future. Visit the website for more on their commercial vehicle insurance options, follow him on Facebook for more tips and advice, or call (303) 916-5231 to request a free quote today.

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