How to Get the Best Price on Commercial Auto Insurance

If you are running a small business or organization where some employees drive company cars, you need to invest in the right commercial auto insurance package. Many of today's leading car insurance providers offer customized programs and affordable rates for business owners who need to insure multiple cars, pickup trucks, vans and other vehicles used for business operations. These insurance plans are typically more comprehensive than your average insurance policy.

Types of Commercial Auto Insurance

Most commercial auto insurance policies fall under the following categories:

- General business auto insurance - for company cars, SUVs and vans

- Pickup truck insurance - designed to protect trucks and trailers

- Van insurance - designed specifically for commercial vans

- Truck insurance - designed to protect semi-trucks and larger trucks

- Tow truck insurance - for on-hook towing vehicles and tow trucks

- Dump truck insurance - designed for companies that own and operate dump trucks, a special type of vehicle

Getting the Best Price on Commercial Auto Insurance

You will need to talk with an insurance agent about your business's specific needs, and provide the agent with as much detail as possible about the types of vehicles your company uses on a daily basis, and approximately how many miles each vehicle will be driven over the course of a month. Your insurance agent will take several factors into account when determining your insurance rates. In addition to your business credit rating, the insurance company will need to review the makes and models of the vehicles you will be putting in use, the number of drivers you are expecting to use each vehicle and whether you will only need seasonal coverage or if you will need coverage year-round.

Your insurance quote will typically account for the following: auto liability insurance for each vehicle, medical payments, collision and comprehensive coverage, uninsured and underinsured motorists coverage, and several other factors.

Some of the best ways to get the best price on commercial auto insurance include:

1. Shop around. Even if you've been doing business with a certain insurance provider for several years, don't be afraid to shop around to get the best quote. Auto insurance providers are very competitive, and some may be prepared to offer a lower rate when they learn you are looking for the best possible price.

2. Settle for a higher deductible. Higher deductibles mean you will be responsible for paying more out-of-pocket expenses in the event of an accident. If you can realistically afford to cover a good portion of damages before your insurance plan kicks in, you can get a better price by increasing your deductible.

3. Install anti-theft devices. Make your commercial vehicles safer and reduce the risk of theft by installing air bags, seat belts, GPS navigation systems and advanced anti-theft devices. Insurance companies may be able to offer you a better rate when they know your vehicles are less likely to be broken into or vandalized.