Mar 9, 2015

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What to Consider When Purchasing a Commercial Vehicle Insurance Policy

What to Consider When Purchasing a Commercial Vehicle Insurance Policy

There are a number of things you must consider when Purchasing a Commercial Vehicle Insurance policy. While there are some similarities to buying personal insurance, there are also some differences that you need to be aware of in order to get the adequate coverage. The first thing you have to realize is that you are not purchasing insurance for yourself, but instead your vehicle fleet and the employees you have behind the wheel.

Facts Surrounding Commercial Auto Insurance

A number of the same liabilities covered by personal auto insurance are covered by commercial insurance. The primary exception to this is the eligibility requirements. If you transport people or goods, the fee you will have to pay will be based on purchasing commercial coverage.

Evaluate Your Drivers

There is another important consideration when you are purchasing a Commercial Vehicle Insurance policy. This is to determine the type of drivers that you have employed. The cost of insurance coverage will be based on the number of people driving and their accident and violation records. If you are considering hiring a new driver, it is a good idea to check out their records, which can be acquired from the DMV. It will provide you with a necessary information about tickets, accidents, and other issues that may increase your coverage rate.

The License Held by the Driver

Another significant consideration in terms of the drivers you hire is if they are commercially licensed. There are a number of insurance companies that will offer a number of discounts to drivers that have earned their CDL, or Commercial Driver’s License. When you begin to interview potential employees, you should ask if they have this license since it can save you money in the long run.

Taking the time to ensure your fleet of vehicles is properly insured is essential. With the information here, you will know what to consider to ensure you get the coverage you need for your fleet of business vehicles. After all, your company is your investment, which means you need to ensure all parts are protected, including the vehicles used by your workers every day.

Visit Coastautoinsurance.com for further details.

 

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