One area that business owners should steer away from taking risks is with New Jersey commercial auto insurance. This coverage is required when autos and trucks are used for business purposes and not having this policy for commercial vehicles is a bad idea. By having good coverage, as an owner, you can protect your company from possible financial ruin.
You’ll need coverage anytime that you, or one of your employees winds up in an accident, especially one involving injuries or fatalities. Getting the right coverage at an affordable price should be supplemented with making certain you are placing the right people behind the wheel.
Monitor your employees’ driving records
Any employee having accidents and/or moving violations on their driving record is a bad candidate for driving business vehicles. This can end up having a negative influence on your insurance rates, so make a habit of reviewing the motor vehicle records of all employees and potential hires.
Never allow your coverage to lapse
If an accident occurs and your coverage isn’t up-to-date this can be a serious problem. By allowing this to occur, you’ll not only end up paying more for your coverage, you’ll also pay any damages that do occur out-of-pocket.
Search for available discounts
Discounts on New Jersey commercial auto insurance are provided by most insurers so do some research. Your company could be eligible for any number of reasons, including paying the premium up front, or in full, or when you have multiple vehicles that you’re insuring. Other discounts may also be available, so inquire about them when you apply.
Keeping a high credit score adds additional value
Many insurance companies use information about your credit history to help them determine your rate. You can ask your agent what specific information each company looks for and how it will influence the cost of your premium. As a way of saving money look for companies with flexible pay plans, including low down payments and those offering coverage with no finance charges. Speak to your agent about your commercial auto needs and drive with renewed confidence.