Auto Insurance Policy
Commercial auto insurance policy can play a prominent role in giving you coverage for your fleet of vehicles and drivers (for you and qualified employees) against injury, loss or damage to vehicles or cargo, in addition to damage to other property. In general, it gives convenient, unified billing, and a whole lot of optional coverage to meet your firm s expectations and vehicle characteristics.
You may ask who Needs Commercial Auto Insurance:
Commercial auto insurance can turn out to be extremely advantageous in case if you are the owner of a small-or-medium sized business firm as it gives you coverage on your firms vehicles, not just on one but an entire fleet. Apart from that, it protects your business against potentially devastating liability costs arising from an accident involving your vehicles.
How Does It Work :
Commercial Auto Insurance is normally given with respect to the premium coverages like general liability or commercial packages. Number of times policies consist of multiple-vehicle and claim-free premium discounts, in addition to direct billing and other payment options. That is where on the basis of your business, available coverage's normally include bodily injury, property damage and medical payments.
Commercial Auto Insurance Policy Components:
Commercial auto insurance policy can sometimes be treated as six-in-one policy as it gives an impression of offering six separate policies at a time. While, some kinds of coverage are mandatory because of the state law, depending on where you live. Other kinds of coverage are optional in nature. But one thing is for sure; its your job to analyze each one of them and comes to a decision how much you need. Always keep note of the fact that each type of coverage has its own premium. Therefore just add them up and you are bound to get the price of your auto insurance policy. In addition subtract the ones you are not interested and you will minimize the cost.
The question now arises: How do I read my auto insurance policy:
The policy is a legal contract so it can be little tricky at a first glance. But, in case if you are smart enough and know what you are looking for and where you are bound to get that information, then its easier to understand. Every insurance policy has three main parts : Declaration page, insuring agreement and terms and conditions of the policy.
As a businessman, you need the same type of insurance coverage for the car you use in your business as you do for a car you use personally. Whether you need to buy a commercial auto insurance policy depends solely on the kind of driving you do. But it is quite pivotal that you know the difference between commercial auto insurance policy and personal auto policy.
Furthermore a mere thought of a safely net to count on each time you get involved in a car accident would give you peace of mind. Thats for sure; you don't want to think of any emergency expenses all the time. But in case if that safety net costs you so much, then you may be getting a good protection yet certainly hurting your pockets. Moreover it is worthwhile pointing that the essence of a safety net is spoiled and the idea of a good protection is wasted. Because of this simple reason as a first time car insurance buyer, you have to realize that is it not enough to buy any car insurance policy that is suggested by a friend or similar to your parents.
Assuming that you are at the right age, already have in your hand a driver's license, have purchased a vehicle, have learned the terms and the different car insurance policies, then you are ready to buy your car insurance; the best place to do it is online.
Though, shopping for car insurance online can still be very confusing if you are just armed with the above assumptions. Below you will find step by step procedures which will help you in your pursuit for car insurance online:
1. Shop around:
First and foremost search for different car insurance companies. Apart from that also look for sites that offer free quotes. This in an ideal scenario will enable you to know the exact amount you will have to pay for your car insurance policy. It is also quite essential that you search for car insurance company websites that offer online support. For that to happen read financial strength ratings of different car insurance company. In addition you may want to visit Standard & Poor's ratings and the A.M. Best regarding this information
2. Secondly be ready with the information you need when you ask for quote These can be termed as: home address, previous car insurance details, driver's license number, details about your car to be insured (model, year, and VIN), driving history, car's use (business, leisure, etc), mileage per year, and so on. Have them with you once you begin researching
2. Learn the tricks on savings:
There are number of factors that influence the amount of your car insurance policy ; factors like your location, age, gender, status, credit rating, car's security (anti-theft) system, number of years as a driver, driving history, etc. Few of them you cannot change while some can. That is where learn to lower down your premium using these things.
For instance, a person with a clean driving record can get a cheaper premium compared to those who have received few tickets purchasing for the same coverage. Another pivotal example would be: buying a policy with the highest deductible you can afford can lower your premium. Also, a car with security as well as anti-theft devices such as airbags, car alarms, automatic seat belts, and tracking systems has a lower premium than cars without. There are number of these, know them all and you will surely get the most out of your coverage.
3. Get Multiple Quotes
Most importantly get car insurance quotes from at least 3 sites. Different car insurance companies give different prices for the same coverage. Because of this simple reason make sure you get at least 3 car insurance quotes to know which company offers the best price for the same protection.
