How to Save Money on Your Business Auto Insurance Policy?

by Administrator 4. July 2011 12:30


A business auto insurance policy protects your business from financial responsibility in the event of a business related vehicle accident.

If you are using a vehicle for commercial use, you must-have business auto insurance. But just because you have to have the coverage, that doesn’t mean that you don’t want to find a way to spend less on it.

Here are five tips to help you save money on your business auto insurance policy without sacrificing your coverage:

Hire safe drivers: Your insurance premiums will go up considerably if you hire a driver with points against their license because they pose a greater risk of accident to your company. Instead, make sure you hire employees with clean driving records.

    Mandatory training: Making safe driving classes mandatory for your employees will show your insurer that you are serious about safety and will train them to act properly when on the road. This will help reduce the risk that they pose and will help reduce your rates.

    Lower your limits: Keep track of the value of your fleet and lower your limits accordingly so that you can keep your policy affordable. Your company cars lose value every year and, if they are driven often, may lose value at a faster rate than a normal vehicle. There is no point in having a high limit if your cars aren’t worth that much, unless you are looking for replacement value instead of actual value. When it comes to medical and bodily injury coverage, be sure not to lower your limits too aggressively since these costs tend to increase over the year rather than decrease.

    Review your coverage every year: When you just renew the same insurance policy every year without reviewing it, you could be missing important changes that have occurred in your business and that should be reflected in your policy. For example, it is possible that you are covered for events that you and your drivers have little risk in encountering or, maybe you have too much insurance on a car that have lost value over the years. It is important to review all these factors every year so you can stay on top of inefficiencies and streamline both your policy and your premium.

    Take safety features: Make sure your cars have safety features such as airbags, anti-lock brakes and automatic seatbelts. All of these automated safety devices will help reduce injuries when accidents occur which reduces the possible medical expenses and reduces your insurance company’s risk.

We at Shawn Camp Insurance know that making decisions about your coverage is one of the most important things you can do. We stand committed to providing the best combination of service, price and products to meet your individual needs. We specialize in Business & Commercial insurance in Copperas Cove, Killeen, Temple, Fort Hood, Gatesville and across Texas. Contact us at (800) 212-2641 for a free business car insurance quote or visit our office.


Pollution and the Company Car Policy

by Administrator 7. June 2011 12:24

Insurance companies have to regulate their liability in a practical manner. This is why there are suicide exclusions on life insurance policies, pre-existing condition exclusions in health insurance policies, and certain pollution exclusions in company car policies. But insurance companies can also offer unmatched coverage that protects you from certain hazards to your business—which is why there is also specific pollution coverages that you can add to your company car policy. Let’s explore the differences between the exclusions and the coverages.

The Pollution Exclusion
Your business car policy covers bodily injuries that your employees may sustain in a collision unless the injuries are a result of the release, seepage, dispersal or escape of pollutants from your company vehicle. In general, your employees should not be handling pollutants in any form unless you have the suitable coverage for this business activity. When you are handling and getting rid of pollutants in the proper manner, then obtaining coverage for these essential activities is easy and affordable. For most businesses, this is not an issue. Only select companies need to deal with waste and storage of pollutants. But it is crucial to understand what is considered a pollutant before you verify whether or not the exclusion will impact your business. Common items like paint, oil and industrial solvents may be considered pollutants so even something as simple as an office renovation could result in the transportation of pollutants.

Optional Pollution Coverage
There are periods when your company may need to be involved in the haulage and removal of pollutants. If you have pollutant coverage in your business auto policy and you are handling the pollutants in the proper way, when an incident takes place then your insurance company will usually not exclude the claim. When you are regularly involved in the disposal, storage or transportation of pollutants, this is coverage you should definitely have. Not only can it help you manage claims of injured parties and workers but it can also take care of any fines imposed by the government as a consequence of the accident and any ensuing spill of pollutants.

So before you decide whether or not to add pollution coverage to your company car policy or to accept the exclusion, try to evaluate the daily, weekly and monthly activities of your business to determine just how feasible that coverage would be for you—and just how risky it might be to go without.

Contact us at (800) 212-2641 for a free company car insurance quote or visit our office.

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