Ways to Decrease Your Commercial Auto Premium
You may have noticed for the second or third year in a row, commercial auto pricing seems to keep going up. Everyone seems to be impacted, from contractors to retail stores to offices. So, what are some ways to limit your increased premium?
Assurance Brokers put together a list that can help limit your increased premium.
- Run MVR’s for all drivers and create a driver screening process. Do you know the driving records of your employees? Insurance carriers will increase premiums for all higher risk drivers.
- Put a fleet management program into place, one with GPS tracking and speed monitoring. Several insurance carriers are now offering their own versions of this, some at no or little cost.
- Limit personal use of company vehicles.
- Review your loss runs to look for accident trends and to review days and times of accidents.
- Increase deductibles, could you raise deductibles from $500 to $1,000 or $2,500?
Talk to your team today if you have questions or want help implementing some of these options.
