Small Business Auto Insurance – Insuring Your Business Assets

Small business auto insurance even for those running a small business is sometimes deemed necessary and sometimes not. If running a small home business most of the insurance pundits suggest judging how much you’ll be using your car for business purposes and what liability issues may prevail and then deciding whether to go with personal or small business auto insurance.

When It’s The Right Insurance To Buy

OK so now you’re wondering when should you buy small business auto insurance. Well you should buy it if you are going to be making ample use of your vehicles. For instance, a plumber operating from his home would want to have small business insurance whereas someone who is a writer wouldn’t. The point of comparison here is that these are both home based businesses. The plumber uses his home as his office and point of return and departure, he stores his equipment and other necessities at his home. The writer works at home and may actually use her car less than someone going to the office or some other form of job outside the house since she stays home typing all day.

The plumber needs liability coverage for his vehicle and his company needs to be covered in case he damages any property belonging to a client, as well as covering any possible employees. So here we have examples of two home businesses and two very different insurance needs.

The Cost Of Auto Insurance

Cost is always uppermost on people’s minds. We want to get the most bang for the buck and naturally the same holds true when buying insurance. The ease of getting many a quote from which to compare policies makes it possible to efficiently shop around and sometimes even qualify for their discounts.

Generally speaking small business auto insurance is priced the same as personal auto insurance. Such factors as the number of miles driven per day, who is driving and driving records of those driving are standard no matter whether buying personal or business auto insurance. With business insurance though comes the added emphasis placed on liability. The higher the limits the higher the premium but depending on what the business entails that might just be a necessary evil to swallow as part of the business expenses. The old adage better to be safe that sorry is a good one to follow when purchasing this type of insurance.

Where to Find the Best Business Auto Insurance

Business owners who have vehicles used to transport equipment, products or people need special auto insurance to cover their fleet. This coverage should be comprehensive in nature, meaning it covers all eventualities. Some companies specialize in this type of insurance but almost all auto insurers have commercial vehicle coverage available. The trick is to find the best one at the most reasonable cost and this can be easily accomplished by going online.

Big name providers are big for a reason. They offer experience and usually have many offices scattered throughout the country so, in the event of having to make a claim, they’re convenient to reach. The only real negative is that their products are often more expensive to buy than those of the smaller companies with whom they’re competing for your business.

Businesses having a vehicle fleet are exposed to great risk and precautions need to be taken to protect the interests of the owners. People driving your equipment may be careful and safety conscious but who knows? You want insurance coverage to provide protection from any eventuality.

Acceptable business auto coverage should be all-inclusive and comprehensive. Some of the more common benefits include protection against collision damage, liability and medical costs resulting from an accident. It should also contain protection for one of your drivers being struck by an uninsured motorist. If you rent or borrow equipment, this should also be covered, as should any personal vehicle an employee uses for business purposes.

There are sites online that offer a ‘clearing house’ approach to selling vehicle insurance and these can save you time and headaches when comparing different policies. After entering some basic information they will supply you with a list of companies offering the type of coverage in which you’re interested and you can easily compare one policy to another. The Internet makes buying insurance fairly painless.

When considering which policy to buy cost, while a major factor, isn’t the only criterion. Every policy has its own set of terms and most will have exclusions that you should understand. Most will also have options regarding the amount of the deductible required when making a claim.

If you do have occasion to make a claim on your business auto insurance policy it’s nice to be dealing with an outfit that has 24/7 claims service and is well reputed to make fair and timely decisions in claims payments. Contracting with a company having a strong financial rating will also put your mind at ease as regards the company’s strength and solvency. The best policy in the world is useless if claims are not handled judiciously.

How To Cut Your Auto Insurance Costs

With this challenging economic times upon us, all of us are looking for the best bargains and finding great auto insurance at a good price is certainly one goal that everyone has. Fortunately, there are lots of ways that will help save money and it’s just a matter of knowing what they are. Let’s check out some of the most popular ways how folks are cutting their auto insurance expenses.

Obviously, the first thing we can do is shop around. Not only do shopping around allows to compare companies and benefits, it also makes us aware of what is a better value. The fact is there many companies out there that are willing to give you a good rate for your business but unfortunately there are some who will not. For these reasons, you should take your time and do a little homework before making your final decision.

Probably the most effective way of keeping your auto insurance costs low as to not be involved in auto accidents. If you are accident free, you get by far the best rates. If you have become involved in an auto accident in recent times, strive to go 3 to 5 years without having another accident and you will be able to take damage of much better rates.

If you are purchasing a new car, and make sure they have airbags. Airbags greatly reduce the cost of auto insurance. Also if you are looking for a new car, anti-lock brakes or another feature that will help reduce your insurance cost. One more thing to consider if you are looking for a new car is to try to purchase a new car as opposed to a used one. Many folks just aren’t aware that brand-new cars will actually save you money on car insurance.

You’ll be very surprised to find exactly how much you can say if you just do the simple things listed here. As you can see, most of them are pretty simple. It is just a matter of being aware of the factors that affect your auto insurance costs.