How many vehicles does your business use? What types are they? Many companies have a variety of commercial vehicles. Each one has a different task. Some of your drivers may need to use just one vehicle. Others may move between vehicles every day.
It seems difficult to buy commercial auto insurance for each one of your needs. That is why your business insurance agent may recommend customizing your plan.
How Does It Work?
It is possible to create a separate schedule for each vehicle. A schedule is simply a policy within a policy. Each of the vehicles can have their own schedule. This document lists identifying information about the vehicle. It includes its VIN code and registration. It also usually lists out the make, model and year. From there, the document will list the type of coverage each vehicle needs. This includes property insurance, liability insurance, and collision coverage.
It may be beneficial to do this. For example, a large delivery truck needs a higher level of coverage. It also likely needs more liability insurance than a standard passenger car. You may also have different types of drivers behind the wheel. Insuring commercially licensed drivers and passenger vehicle drivers separately is important. Overall, breaking these types of plans into pieces might help save your company money.
In most cases, businesses need customized plans for each of their vehicles. However, fleet coverage is also an option. For vehicles that are similar in style and function, fleet insurance minimizes costs. It helps provide a blanket level of protection for multiple vehicles. Discuss this option with your business insurance agent as well to determine how it can help you.
How to Get Started
Meet with your business insurance agent. Discuss the specific types of vehicles you have. And, speak about the ways you use your vehicles. It is important that your agent has a solid understanding of the risks present. Your agent will then create a separate schedule for each of your vehicles. Keep in mind that this should only include business vehicles. Avoid including those cars driven for personal reasons. This can create some concern about liability.
Discuss the benefits of this with your agent. Your agent can pull up various types of policy configurations. This is an excellent way for you to find a more affordable plan for your needs. It also helps you know your vehicles are all protected.
Need commercial auto coverage? Let Zachman Insurance Agency help. Call us at 763-497-2430 for a fast, free policy quote.