Commercial auto insurance is something businesses purchase to cover their vehicles and the people who drive them. Commercial auto insurance policies in Davie will typically provide physical damage and liability coverages for the insured. These policies cover cars, trucks and any type of commercial vehicle that is necessary for you to run your business. Whether it be a small business or a company with a large fleet, commercial auto insurance policies cover a wide range of business types to ensure that your needs are covered no matter what.

There are a variety of businesses that would benefit from having a commercial auto insurance policy in Davie, but it starts with businesses that have vehicles that require a commercial auto insurance policy. Food trucks, box trucks, utility vehicles and commercial vans are a few examples of vehicles that require a commercial auto insurance policy due to their inability to be covered under a personal auto policy.

When it comes to what commercial auto insurance policies cover, it’s a lot of the same coverage as personal insurance policies however there are usually differences in eligibility, definitions, coverages, exclusions and limits. Examples of different types of coverage are as follows:

Bodily Injury Liability coverage – Coverage for any bodily injury or death to another person resulting from an accident in which you are at fault.

Property Damage Liability coverage – This is the protection you have to protect yourself if your vehicle accidentally damages another person’s property of any kind. This coverage will also provide you with legal defense in most cases.

Combined Single Limit (CSL) – Since most liability policies usually offer separate limits for bodily injury and property damage, this is sometimes an option where both of those are covered under one single limit. The same dollar amount for coverage would be offered whether the claim is for bodily injury or property damage and whether it is dealing with one person or several.

Medical Payments – This typically would cover the medical expenses of the driver and passengers of the vehicle for bills incurred as a result of a covered accident, regardless of fault.

Uninsured Motorist Coverage – pays for your injuries and, in some circumstances, certain property damage caused by an uninsured or a hit-and-run driver. In some cases, underinsured motorist coverage is also included. This is for cases in which the at-fault driver has insufficient insurance.

Comprehensive Physical Damage Coverage – pays for damage to your vehicle from theft, vandalism, flood, fire, and other covered perils.

Collision Coverage – pays for damage to your vehicle when it hits or is hit by another object.

As it pertains to vehicles that can be covered under a commercial auto policy in Davie, the list is understandably longer than that of a personal auto policy. As previously mentioned, specialty vehicles needed in the day to day operation of a business like food trucks, box trucks and specialized utility vehicles can and actually need to be insured by a commercial policy because they are not leisure vehicles. With that being said, it’s understood that regular passenger vehicles can also be utilized by businesses so those vehicles can be insured here as well. The broad spectrum of what can be covered under a commercial auto insurance policy in Davie are what make these policies so beneficial for businesses.

Not all companies offer commercial policies but here at Advantage Plus Insurance, we have partnered with Progressive, Kemper Auto, Mercury, and Bristol West to provide you with a quality product and even better customer service so you know your business is in good hands at all times. They all offer competitive rates and in-depth coverage options so you can be at ease knowing that whatever potential event may occur in the future, they’ve got your back.

So what are you waiting for? Give us a call and become one of the family of businesses that we have assisted with commercial auto insurance in Davie.

How can I lower the cost of my commercial auto insurance policy?

Managing cost on an insurance policy is something that all customers, whether it be commercial or personal, are always looking to do. You need to make sure that you are protecting your assets while simultaneously making sure your premium doesn’t become too costly. This type of balance isn’t always easy to do but with a little patience and a knowledgeable agent that you trust, you can be sure you are getting what you need without breaking the bank.

  1. Shop around – Here at Advantage Plus Insurance we like to take this step out of your hands and handle it for you. As your agent, we proactively shop among the companies in our network at renewal times to make sure you are getting the absolute best rate but this isn’t always the case elsewhere. Be sure you know what you have and are paying for and don’t be afraid to look around to make sure you have a competitive rate.
  2. Look for package deals – Not every company offers package deals but depending on what you are looking for it can sometimes be done. Businesses usually need to have general liability policies in conjunction with commercial property or commercial auto policies and certain providers incentivize the purchase of multiple policies for discounts, so don’t be afraid to ask the question.
  3. Raise your deductibles – This is a fairly common way to reduce premiums. If you are okay with potentially paying more for a deductible in the event of a loss, raising your deductibles will ultimately lower how much you pay in premium. Be realistic with yourself though, make sure the amount you select for your deductible is manageable for you in the event something should happen.
  4. Eliminate Overlapping/Unnecessary Coverages – In most cases, commercial policies don’t duplicate other types of insurance but it can happen. An example of this would be that both a general liability and a commercial auto policy can offer coverage for hired and non-owned autos. Any duplication of coverage across multiple policies means you are paying more than you need to. This kind of checking should be done when you or your agent shop around for you anyway which emphasizes cultivating a relationship with an agent you trust so you don’t have to worry about details like this.
  5. Pay in Advance – This is simple and applies to most insurance, not just commercial. Most companies will offer a discount, whether it be off the premium itself or by eliminating fees if you pay your premium up front for your term. If you have the money to lay out, this can end up saving you hundreds of dollars in the long run.
  6. Eliminate Risk – The insurance industry as a whole is really a simple mathematical calculation. The company assesses you and your particular situation, they consider the protection you desire, then they assign a risk level to it and give you a price. Knowing that, if you lower your risk then you will lower your premium. Some ways to lower your risk are to take proactive steps to prevent potential losses. Things like properly training employees, not only in the area of your business but as it relates to human resources and workplace safety are helpful as well. You can also include theft prevention programs and technology for your business. Steps like these will look favorably in the eyes of the insurer and can ultimately help your wallet.
  7. Ask for discounts – This is more of an obvious one but I will say again, never be afraid to ask the question. As I mentioned in the previous step, you may be eligible for safety discounts or organizational discounts depending on your business. In addition to those there are loyalty discounts, autopay discounts, paperless discounts and potentially more. Have dialogue with your agent and ask what applies to you.