If your employees travel for work or use company vehicles for any reason, you likely have a commercial auto insurance policy. This insurance covers vehicles owned or used by a business for work purposes, ranging from minimum liability to full coverage with comprehensive, collision and medical payments coverage.

While insuring an entire fleet of cars can be expensive, there are easy and simple ways that you can save money on commercial auto insurance.

Bundle, Bundle, Bundle

People often bundle their home and auto insurance policies to enjoy a discount, but you can also use this tactic on your business insurance. Many insurers offer bundling and comprehensive policy packages that allow you to bundle important coverages—including your commercial auto insurance. A business owners policy (BOP), for example, generally combined general liability insurance and commercial property insurance into a flexible policy. Commercial auto insurance is one of the many coverage types you can add to a BOP.

Vet Your Drivers Carefully

While you may not have every employee named on your commercial auto insurance policy, an insurer will still want to know who is operating the vehicles they insure. More drivers mean higher premiums on average, but you can’t sacrifice reliable employees. Instead, make sure you choose your drivers carefully. An employee’s driving record and credit score can have a hefty affect on the cost of your commercial auto insurance. Choosing the right drivers can prevent a high jump in your rates.

Keep Your Vehicles Safe

As with most insurance policies, the cost of commercial auto insurance is primarily based on your risk of filing a claim. The more likely you are to file for compensation, the more you may find yourself paying for commercial auto insurance. This is why it pays to keep your vehicles safe. Installing updated security alarms, choosing vehicles with high safety ratings and keeping all commercial vehicles under a covered structure when not in use can protect the vehicle and thus lower your commercial car insurance rates.

Choose the Right Vehicles

Certain vehicles cost more to insure due to their weight or safety rating. Heavier vehicles may cost more to insure due to the capacity to cause damage to other people in case of an accident. If possible, choose lightweight vehicles and go for practicality rather than style. Choosing practical (and possibly cheaper) vehicles can help you save on your auto insurance premiums.

Get A Quote