When owning a company there are many areas in which your business is vulnerable to high costs, one of those is Auto Insurance. Every business should have Auto Insurance even if they do not own any autos because they have an exposure. For example, if an employee who drives his or her own car to make a delivery and rear-ends another car. Your company may also be found liable and wind up with an auto claim. The employee’s auto insurance will only cover their liability and will not protect the company. These claims often wind up costing well over $100k and many go over $1 million.
A properly written commercial auto insurance policy will cover the company from any property damage and medical costs from this type of accident. If you do not have the proper insurance in place your business will be responsible for covering the loss and auto claims can be very expensive.
Working with an insurance broker to help select the best type of Auto Insurance for your company is a crucial to protecting your company. You may want a second opinion on the coverage you have and to understand your options. By working with a broker you trust, such as Geoff Johansing, you can learn ways to lower Auto Insurance premiums.
Safe driving practices that decrease premium costs include:
- Defensive driving course
- Non-distracted driving training
- No texting while driving policies
Following these practices will provide premium and claim reductions. Geoff understands that every business is unique and has its own set of challenges. He also understands the aspects of fleet safety that can help your business decrease accidents that lead to higher premiums. Accidents are inevitable, but we guide employers to implement safety protocols that decrease the chances of serious accidents from occurring.
Accidents are a leading reason why Auto Insurance premiums increase. Repairing cars these days is very expensive because cars have so many gadgets incorporated into them. These cameras and sensors make the cost of repairs skyrocket and so do the medical costs, if someone is injured. Implementing these programs and having a documented safety plan will help reduce accidents from happening. You need to enforce your safety plan consistently. By reviewing your plan annually and evaluating the results, you will have a better understanding of weak links in your program.
Use the link below or give us a call to set up at time to go over your program and answer any questions you may have.