For small business owners who require employees to drive for them, be it deliveries via company vehicles, visiting clients to discuss business, or attend trade shows and conferences where some driving is necessary, having the right auto insurance should be a top priority.
That being said, some business owners are sometimes found asleep at the wheel when it comes to making sure that any and all employees are properly insured the minute they leave their office.
As 2013 gets set to debut, now would be a good time for small business owners to sit down and review the coverage they have. In the event they do not have the proper protection in place, fix that problem immediately before an accident involving one of your employees could put your finances in reverse.
When looking for a commercial auto insurance plan for your business, consider the following tips:
# 1. Your real coverage needs
It is not uncommon for small businesses to have employees making deliveries, pick up supplies, meet with clients and more. Employers may assume that their business owners policy and/or personal auto coverage covers business vehicles, however it does not. With a commercial auto insurance plan, business owners will have protection for autos, trucks and vans that are used by them and/or their workers towards business functions.
Many providers will offer normal auto liability, the option for comprehensive and collision coverage, along with uninsured motorist protection. Finally, check to see if rental coverage is available in the event say a delivery vehicle is temporarily put out of service;
# 2. Vary your quotes
Just like you would obtain a number of quotes for any sizeable purchases for your small business, make sure you do the same for commercial auto coverage. Along with using any referrals, review each insurance website you contact and compile information from them in any notable online insurance forums, along with running them past the Better Business Bureau (BBB). Look for how long they have been in business (including the experience of the specific agent that you deal with), the company’s relationship with customers, any financial stability issues, and pricing options (see more below), including looking for any “hidden” fees;
# 3. What will I pay?
One of the most important factors will obviously be the price involved for coverage. Among the things you want to look at include whether or not you will pay monthly, every quarter, every six months or once a year. Also define if the company offers flexible payment options, online billing and payments, along with automatic deductions from your company’s bank.
# 4. Customer service
Just as you try and provide your customers with top-rate service, you expect and need the same from a commercial auto insurer. In the event you or one of your employees is an accident with a company vehicle, you need immediate claims service, not one that will take many days or even weeks. Again, this is where getting referrals, along with some homework on your part will be important. You need a provider that makes you its first priority, not the other way around.
With the right commercial auto insurance policy for your small business, you can drive forward knowing both you and your company are protected each time you hit the roads.
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Images: ”Seriously damaged business auto isolated with clipping path / Shutterstock.com“
