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Things You Should Consider When Choosing Business Auto Insurance

Business auto insurance ensures that in the event of a loss occasioned by an accident, theft or damage to your vehicle, you are compensated so that your operations are not negatively affected.

Author: Michael Lawrence
Date: Aug 19, 2013 - 2:15:10 AM

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Business auto insurance ensures that in the event of a loss occasioned by an accident, theft or damage to your vehicle, you are compensated so that your operations are not negatively affected. It helps to maintain your company in normal operations so that you do not lose goodwill from customers. It is, therefore, very important that in addition to getting your business premises insured, you also get commercial auto insurance.

One of the things you need to consider is the limits of the insurance policy.There are some minimum limits that are set by law but this does not mean that you should take the lowest policy possible. General liability may rise above the minimum limit and this means that your business assets are at risk of being disposed to meet the claim. For instance, you can hit a pedestrian resulting in death with your business vehicle. The liability that may arise from the ensuing court case may be larger than the limit you have taken. This is why it is advisable to take out business auto insurance that is above the limit so that your exposure is limited.

You also need to ensure that the vehicle you take commercial auto insurance for is registered under the business. This is because for small businesses, it is sometimes possible to use the vehicle for both business and personal use. If it is not registered under the business, you might have issues claiming insurance protection for it.

When you are taking out insurance, it is important to consider the vehicle classification.This will include such things as the usage of the car. Improper or incorrect classification can cause the policy to be invalidated.The classification will also determine how much you pay as premiums. For instance, premiums for a truck used as a dumpster are different from those of a truck used by a plumber.

Commercial auto insurance does not have to be expensive. You can get discounts by taking some measures such as ensuring your vehicles are fitted with GPS devices to enable their tracking as well as ensuring you hire qualified drivers. Other features such as safety belts and car alarms also go a long way in ensuring you get discounts on your premiums.

Another important thing you should consider is getting one company to do all your insurance.This eliminates the need of having to monitor different insurance accounts for every aspect of your business or personal life. For instance, a firm like Clark insurance group can provide cover for your vehicles as well as contractors insurance if you offer contract services.They can also provide farm insurance if you are a farmer in addition to being a businessman.This is good because the chances of needing compensation for all of the aspects you have insured yourself for at the same time are slim.

You should always choose an insurance company that offers the best services at the lowest cost. This does not mean that you should only go for those companies that offer the lowest prices but those that offer you the best value for your money. Getting business auto insurance will ensure your firm is protected at all times from any unforeseen events relating to your commercial vehicles.

Michael Lawrence is the author of this article on Clark Insurance Group.
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