Key Points to Consider When Shopping for Business and Commercial Auto Insurance

Business owners realize the importance of making sure that their business is well protected from all risks that can affect their businesses. A vehicle that is owned by the business may put the business in jeopardy of a lawsuit in the event of an accident if the accident is caused by that vehicle or its operators. The following are key points that business owners need to remember when shopping for commercial auto insurance.

Personal or Business Insurance: Take commercial auto coverage anytime the vehicle is titled in the name of the business, regardless of the size of car and regardless if the car is for doing business or pleasure. The titleholder of the vehicle (in this case it is the business) may be sued as a result of at fault accidents, bringing the entire business in a legal preceding. If the insurance coverage is not under the name of the business, then the business may have some issues related to the validity of the insurance coverage.

Liability Limits: Insurance companies offer different liability limits, from the basic limits mandated by law (in Illinois it is 20,000/40,000/15,000) to as high as one million dollar for every accident. A business that insures its commercial vehicles at the basic liability limits of ($20,000 bodily injury per person, $40,000 bodily injury per accident, and $15,000 property damage per accident) is certainly running in a big risk of losing its business assets in case of at fault accident involving their business autos with death or serious injury to others. High insurance limits are required to avoid losing business assets in case of auto accidents.

Vehicle Classification: Improper classification of the commercial auto may result in voiding insurance coverage, therefore, rendering policy useless and putting business in significant risk of losing business assets in the event of at fault automobile accident. A truck that is used by an electrician has different classification than a similar truck used as a dump truck. The two trucks have different classes and their premiums are not similar in amount.

Autos that are titled in the name of a business, or ones that is used to run a business must have commercial auto insurance coverage. The following are examples of automobiles that need commercial insurance coverages:

All trucks (local or long hauls), Artisans and all contractors, Messenger and delivery services, Ice cream vendors, Landscaping, Limousine services insurance, Para-Transit transportation insurance, Religious and non-profit, Food services and restaurant insurance, Pickup truck insurance, Truck insurance, Tow truck insurance, Dump truck insurance, Landscaping insurance, Snow plowing, Commercial Vans. etc.

Business Auto Mandatory Coverage Includes:

(1) Liability. In the State of Illinois a minimum of $20,000 bodily injury per person, $40,000 bodily injury per accident, and $15,000 property damage per accident is required from all registered vehicles, personal or commercial. Some commercial autos that need federal filing or state filing may need higher limits. For example, a limo operating in Chicago need to have a minimum of $350,000 in auto liability. A truck that transports hazardous materials is required to have at least one million dollars in auto liability coverage.

(2) Uninsured Motorist/ UM Coverage. In Illinois a minimum of $20,000 bodily injury per person, $40,000 bodily injury per accident is required for Uninsured Motorist/ UM coverage. These are the limits that your insurance company will pay people in your business vehicle in the event of them being injured by some uninsured motorist. This coverage may not apply if the accident is work related, and if the business workers compensation policy comes in the picture.

(3) Other coverages may be required, based on the nature of the business. For example, certain long haul trucking businesses are required to meet FHA Insurance Requirements, and their filing may be require to have Cargo Coverage in place.

Some Optional Coverages for Business Vehicle Includes:

(1) Physical Damage Coverage- Comprehensive coverage will pay for physical damage to the insured vehicles caused by a variety of risks, including fire, lightning, theft, vandalism, hail and flood. Collision will pay when the auto is physically damaged in an accident involving another vehicle or a stationary object, such as a wall, telephone pole, or guardrail.

(2) Underinsured Motorist/ UIM Coverage. In Illinois a minimum of $20,000 bodily injury per person, $40,000 bodily injury per accident is required for UIM (Underinsured Motorist, bodily injury.) These are the maximum limits that your company will pay people in the insured commercial vehicle in the event of them being injured by an insured motorist. Remember that this coverage will not apply if the accident was work related.

(3) Medical Payments: The coverage will pay medical care expenses for the insured(if you are not covered by workers’ compensation) as well as passengers in your auto.

(4) Hired and Non-owned Auto: Pay for damages the business is legally obligated to pay due to bodily injury or property damages that happens during the use, loading or unloading of hired or non-owned autos used for your business.

Three Ways to Reduce Your Auto Insurance Premium

This script focuses on cheap car insurance and strategies to cut down these expenses. It examines the options of deleting old autos, raising the policy deductibles, and accessing insurance carrier discounts. Readers must be able to discover pragmatic techniques to shrink their auto insurance expenses.

Most people around the country are seeking for suitable methods to lower costs in a number of areas. With the recession in the current economy, it is critical for many consumers to reduce their spending. Certain expenses, like automobile insurance are important to daily life. Although they are essential to function in society as drivers, there are certain practical ways to lower these costs.

Choosing the right insurance carrier is one of the ways that you can easily reduce your car insurance expenditure. Various online sites may assist those looking for auto insurance. You will uncover a vast group of insurers to choose from. This is a great advantage as it relates to choice and saving money. Applying specific techniques can help you to save even more.

Low cost auto insurance doesn’t provide preferred coverage. What it does provide shoppers is insurance policy that is budget friendly. There are certain things that individual customers can do to make their insurance affordable on a monthly basis. Often these are straightforward and convenient methods to consider. Let’s take a look at ways to find more affordable auto insurance by cutting down expenses.

1 – Terminate old vehicles covered

Several people have older autos that are actually collectors’ items. These are cars that are not driven or are mechanically nonfunctional. Keeping regular auto insurance on these vehicles is not a budget conscious idea. Removing regular insurance on these autos can provide you with the lower cost vehicles insurance that you need. Do not forget that insurance is the law in almost all states, so you ought to always maintain liability insurance on any owned auto, even if inoperable. (collectibles and show autos have significantly lower liability premiums than regularly used cars.)

2 – Increase amounts of deductibles

Deductibles are always issues for customers to fight over. A lot of people think that low deductibles will pay off over time if an accident takes place. Most insurance carriers, however, say that this is a guaranteed way to decrease monthly costs. The policy monthly payments will decrease if deductible amounts are raised.

3 – Ask for carrier credits

Before settling on an insurance policy, it is important to check for the possibility of discounts with your insurance agent. In many cases, there are discounts and credits related to the details of your specific situation. Possible credits may include: Alarm systems, anti-lock brakes, good student discounts, prior insurance discounts, multi account discount when you have more than one account (ie life, home, condo) with same insurer, not necessarily the agent; home discount or a credit for just being an owner of a single family home or a condo; and other details may provide you with credits for cheap car insurance.

Living in a large metro area such as Los Angeles or Chicago can be used in your favor or against you. In Chicago, for instance, the premium of car insurance is much higher than the neighboring suburbs, perhaps 30% – 60% higher, on the average. However the awesome thing about Chicago is that there are many Chicago auto insurance companies that are competing to earn your insurance business. Intelligent buyers will always have a better bargain in Chicago.

Finding Affordable Auto Insurance

Affordable auto insurance is not so hard to avail of if you know what you want. There’s no need to transfer from company to company just to get the insurance that fits your budget. One way to lessen your insurance charge is to discharge coverage that you don’t actually need, install anti-theft devices to your cars, and a plethora of other ways. If you want to know the things that could lessen the money you spend on auto insurance, continue reading.

One of the latest updates in the auto insurance industry that helps lessen insurance is to raise deductibles. A lot of automobile owners have already taken this step and suffice it to say they experienced a big amount of savings in their insurance. Plus, the good thing about this step is you can really afford it. For example, an original deductible of $500 should be doubled so that you can save some bucks. It is important to discuss your auto insurance policy with your insurance agent to come up with a more bearable insurance premium.

An insurance agent is the right person to consult when you want to know the specifics of how to get discounts on your auto insurance. The use of safety and anti-theft devices and gadgets in your automobile slashes back some dollars on your insurance. When you consult your insurance agent you should ask him about the applicable discounts that you are qualified to avail. An annual savings on your insurance premium can range from 5% to 35% so long as you have shown the insurance company that you are a good driver and there are more ways than one to show that you prioritize safety when driving by training for defensive driving, getting good grades if you’re a student and a lot more. Another solution for a budget-friendly car insurance is to merge all of your existing insurance policies. A myriad of policies in just a single company can get you a sizable amount of insurance. Some of the insurances that you can merge together are insurances for renters, home owners, auto, and life.

No matter the policy type of your insurance, if you join this together you’ll be able to avail of discounts. A budget-friendly auto insurance is really the best option that an automobile owner can get. For the reason that there are many insurance companies, they give car owners a lot of choices when it comes to insurance rates and policies. There is no need to rush in picking your auto insurance, try to look around for the best budget-friendly company first. If you do this, you’ll be very satisfied with a budget-friendly insurance policy. Following one or all of the advice provided above will not only give you the best deal in auto insurance, but you’re satisfied with the deal you got.

Direct Car Insurance – New Trend In Auto Insurance

Until recently, the method of purchasing auto insurance involved finding a reputable agent who offered the insurance a customer needed. The next step in the process was determining which level of car insurance a customer needs. This step, for most consumers, is a compromise between price and a level of coverage they can live with. After business is concluded the consumer usually won’t speak to the agent until their policy is up for renewal or a claim must be filed. There is generally a markup on the price of the insurance policy due to the compensation due the agent for providing the service.

There is a new trend which has emerged in the auto insurance world that is saving the consumer money. This trend is a product called direct car insurance. Simply explained, this means the agent variable in the auto insurance equation has been removed. Direct car insurance has the almost immediate impact of eliminating part of the cost of an auto insurance policy by removing the agent’s commission. The method of purchasing this insurance is mainly done online. The result is cheap auto insurance rates passed on to the consumer. With the agent removed from the equation direct auto insurance offerings allow you to quickly and easily modify levels of coverage on the fly to see how it impacts the insurance policy’s rate. The consumer does not have to deal with an agent trying to sell them on coverage in which the consumer may do without.

Purchasing direct car insurance online is certainly cheap but this does not refer to the quality of coverage. In order to offer car insurance to consumers, a company is required by law to pay for claims and offer the same coverage to all customers. What this ultimately means, is that by purchasing cheap (price) online direct car insurance you will have the same coverage as if you purchased a policy from an independent agent. The personal level of service a customer receives from an agent provided auto policy is the same as a policy offered from a company offering direct car insurance.

The worry many consumers may have about purchasing cheap online direct car insurance is related to what happens if the policyholder is involved in an accident and must file a claim. One thing to keep in mind is that when the consumer needs accident repair on the vehicle the agent was not doing the repairs personally. In fact, most of the time the agent was not involved in the claims process unless the policyholder specifically requested it. The claim was handled by a customer service center specializing in handling policyholder claims. This level of specialization has existed for quite a long time. This claims process is the same at companies offering online “cheap” direct car insurance.

In short, if you are looking to save some money and are used to dealing with an agent down the street, you should look in to many of the available cheap online direct car insurance companies. You will see the level of coverage and service you are used to from an agent is available at a much discounted rate. Visit Elephant Auto Insurance online to get a cheap quote on car insurance.

Discount Auto Insurance for All Drivers

You may believe that discount auto insurance is not for everyone and maybe not possible for you. That is a myth you must put aside, as there are numerous ways in which you can cut your car insurance costs and save money. While those posing the highest risk will have trouble finding discounts for car insurance, you don’t have to be perfect to save money.

Here are some tips to overcome you shortcomings and save money without compromising coverage.

Discount Auto Insurance for Homeowners

If you own your home, or have a renters insurance policy, you should consider getting insurance for your car through the same provider. This can save you money on both policies as most insurers offer discounts if you combine home and car insurance. This may mean that you need to shop for homeowners insurance while you shop for insurance for your vehicle in order to get the best coverage on both and maximize savings.

Discount Auto Insurance for Multiple Policy Holders

A multiple policy holder is someone who has more than one policy with the same insurance provider. This can included auto and homeowners, as mentioned above, but it can also include multiple vehicles, the addition of a boat or any recreational vehicle, life insurance and sometimes even having a retirement fund with an insurance provider can save you money on your auto insurance. A car insurance company that offers an array of products is very likely to offer you discounts on their products the more you take advantage of their services.

Take Advantage of Discounts for Discount Auto Insurance

It’s an obvious statement, but discounts lead to discount auto insurance. The reason it bears mentioning, is that most people do not realize just how many discounts are available for customers. For instance, GEICO offers 16 auto insurance discounts, while other companies offer more. Some discounts that you may not realize are available and that go beyond the good driver discount include:

Defensive driving certificate discounts
Good student discounts
Reduced driving discounts
Renewal discounts
Safety feature discounts
Seat belt usage discounts

Review Your Policy Yearly for Discount Auto Insurance

Circumstances regarding your status and changes within your auto insurance carrier mean that a yearly review of your policy can help you to save money. You may qualify for car insurance discounts that you did not qualify for the year before. Also, the company through which you have your coverage may offer additional discounts or have changed their risk rating structure.

You can review your policy by getting rate quotes from other competing companies to compare rates and coverage options. You should also get in touch with your local agent to see if your safe driving over the past year has put you into a lower risk pool or if there have been any additional discounts that you may now qualify for. As you can see, it will take some work, but it really isn’t that difficult to find discount auto insurance.

Finding Affordable Auto Insurance

Affordable auto insurance is not so hard to avail of if you know what you want. There’s no need to transfer from company to company just to get the insurance that fits your budget. One way to lessen your insurance charge is to discharge coverage that you don’t actually need, install anti-theft devices to your cars, and a plethora of other ways. If you want to know the things that could lessen the money you spend on auto insurance, continue reading.

One of the latest updates in the auto insurance industry that helps lessen insurance is to raise deductibles. A lot of automobile owners have already taken this step and suffice it to say they experienced a big amount of savings in their insurance. Plus, the good thing about this step is you can really afford it. For example, an original deductible of $500 should be doubled so that you can save some bucks. It is important to discuss your auto insurance policy with your insurance agent to come up with a more bearable insurance premium.

An insurance agent is the right person to consult when you want to know the specifics of how to get discounts on your auto insurance. The use of safety and anti-theft devices and gadgets in your automobile slashes back some dollars on your insurance. When you consult your insurance agent you should ask him about the applicable discounts that you are qualified to avail. An annual savings on your insurance premium can range from 5% to 35% so long as you have shown the insurance company that you are a good driver and there are more ways than one to show that you prioritize safety when driving by training for defensive driving, getting good grades if you’re a student and a lot more. Another solution for a budget-friendly car insurance is to merge all of your existing insurance policies. A myriad of policies in just a single company can get you a sizable amount of insurance. Some of the insurances that you can merge together are insurances for renters, home owners, auto, and life.

No matter the policy type of your insurance, if you join this together you’ll be able to avail of discounts. A budget-friendly auto insurance is really the best option that an automobile owner can get. For the reason that there are many insurance companies, they give car owners a lot of choices when it comes to insurance rates and policies. There is no need to rush in picking your auto insurance, try to look around for the best budget-friendly company first. If you do this, you’ll be very satisfied with a budget-friendly insurance policy. Following one or all of the advice provided above will not only give you the best deal in auto insurance, but you’re satisfied with the deal you got.

Three Ways to Reduce Your Auto Insurance Premium

This script focuses on cheap car insurance and strategies to cut down these expenses. It examines the options of deleting old autos, raising the policy deductibles, and accessing insurance carrier discounts. Readers must be able to discover pragmatic techniques to shrink their auto insurance expenses.

Most people around the country are seeking for suitable methods to lower costs in a number of areas. With the recession in the current economy, it is critical for many consumers to reduce their spending. Certain expenses, like automobile insurance are important to daily life. Although they are essential to function in society as drivers, there are certain practical ways to lower these costs.

Choosing the right insurance carrier is one of the ways that you can easily reduce your car insurance expenditure. Various online sites may assist those looking for auto insurance. You will uncover a vast group of insurers to choose from. This is a great advantage as it relates to choice and saving money. Applying specific techniques can help you to save even more.

Low cost auto insurance doesn’t provide preferred coverage. What it does provide shoppers is insurance policy that is budget friendly. There are certain things that individual customers can do to make their insurance affordable on a monthly basis. Often these are straightforward and convenient methods to consider. Let’s take a look at ways to find more affordable auto insurance by cutting down expenses.

1 – Terminate old vehicles covered

Several people have older autos that are actually collectors’ items. These are cars that are not driven or are mechanically nonfunctional. Keeping regular auto insurance on these vehicles is not a budget conscious idea. Removing regular insurance on these autos can provide you with the lower cost vehicles insurance that you need. Do not forget that insurance is the law in almost all states, so you ought to always maintain liability insurance on any owned auto, even if inoperable. (collectibles and show autos have significantly lower liability premiums than regularly used cars.)

2 – Increase amounts of deductibles

Deductibles are always issues for customers to fight over. A lot of people think that low deductibles will pay off over time if an accident takes place. Most insurance carriers, however, say that this is a guaranteed way to decrease monthly costs. The policy monthly payments will decrease if deductible amounts are raised.

3 – Ask for carrier credits

Before settling on an insurance policy, it is important to check for the possibility of discounts with your insurance agent. In many cases, there are discounts and credits related to the details of your specific situation. Possible credits may include: Alarm systems, anti-lock brakes, good student discounts, prior insurance discounts, multi account discount when you have more than one account (ie life, home, condo) with same insurer, not necessarily the agent; home discount or a credit for just being an owner of a single family home or a condo; and other details may provide you with credits for cheap car insurance.

Living in a large metro area such as Los Angeles or Chicago can be used in your favor or against you. In Chicago, for instance, the premium of car insurance is much higher than the neighboring suburbs, perhaps 30% – 60% higher, on the average. However the awesome thing about Chicago is that there are many Chicago auto insurance companies that are competing to earn your insurance business. Intelligent buyers will always have a better bargain in Chicago.

How to Obtain Auto Insurance

Car insurance can be ridiculously expensive, but by avoiding excessive coverage and perhaps paying a higher deductible, you can get affordable insurance that actually protects you. Before you shop, however, make sure there are no errors on your driving record or your credit record. A surprise on either can jack up your rates.

Contact the DMV to find out about any outstanding violations you might have on your driving record and straighten them out. Order a free credit report from a company like Experian.com to make sure it’s clean.

Find out how much coverage you’re required to carry according to your state’s department of insurance and determine which types of coverage you’ll need. This requires balancing how much you can afford to pay with how much you can afford to lose. You should carry enough liability to cover your assets if you cause a very expensive accident; otherwise the claimant might go after your house and possessions.

Shop around for quotes based on what you’ve determined you need, instead of asking agencies what they think you need. Independent insurance agents and Web sites like esurance.com, Insweb.com and AllQuotesInsurance.com will compare rates for you. Are you willing to pay more for a well-known company?

See what you can get discounts for. Here are some of the things you may already have that can save you money: air bags, antilock brakes, automatic seat belts, antitheft devices, safe driving record, safe car, age, marital status and multiple insured vehicles.

Ask the carrier if filing a claim raises premiums, and under which circumstances it cancels insurance.

Research prospective insurers. To learn how the company’s service is regarded, talk to other customers and repair shops who have worked with the insurer. Check out the company’s rating with your state’s department of insurance, the Better Business Bureau (bbb.org) and national consumer surveys. The company should be in good standing so you can collect when there’s a claim.

Read your policy before signing. Make sure it includes the coverage you’re requesting and no surprise clauses. Avoid arbitration clauses that keep you from suing your insurer if it doesn’t pay a claim by asking the insurer to delete it from the contract or going to another insurer.

Keep the policy in a safe place, and keep proof of insurance in the car with your registration.

How to Change Auto Insurance Companies

The two primary reasons for changing auto insurance companies are increasing rates and poor service. If your premium starts to skyrocket, consider changing companies. Occasionally you must change insurance companies because you’ve been dropped by the company or they’re no longer doing business in your location.

Save the communication from your present company if they dropped you. This is particularly important because they no longer write insurance in your area. The letter is proof that your driving record isn’t bad and their refusal to renew is for the entire area. It will list claims and accidents. Make a copy and include it with any insurance application.

Pull all your records from the past 5 years — claims, accidents and tickets. Include your driving history, distance to work, approximate annual mileage and present coverage.

Compare the rates with the same coverage. If you want to modify your coverage, do it later. Check with your state insurance department to find out if any complaints have been filed against them.

Find all discounts. If you have a different homeowner insurance company, ask if they give policy discounts for having two types of policies. Some companies offer discounts to teens for good grades and a completed driver’s education course. Inquire if there’s a good-driver discount or a multi-car discount.

Give your insurance company a chance to match any rates if you lower your coverage. Some changes make all policies more inexpensive, like increasing the deductible or lowering the liability coverage. See if you’re missing any discounts that might have started after you took out the policy.

Fill out the application at least a month in advance of your policy premium due date and ask for the policy to begin on that date. You’ll want the policy in hand before you cancel the old one. Sometimes quotes aren’t the price the company ends up charging. People often forget a ticket or accident or think it was longer than 5 years, if it occurred just short of that time. Sometimes representatives accidentally factored the quote improperly. If you pay your insurance premium and then cancel it, you’ll be short-rated. This means that you pay a much higher price for the days you had coverage.

Notify your insurance company that you wish to cancel your policy on the anniversary. All companies give a short period of time to avoid lapse. If you don’t cancel, they’ll charge you for the coverage.

How to Get the Cheapest Car Insurance

Getting discounts on your car premium quotes is easy if you know how to shop for it. Auto insurance companies offer several discounts if you prove that you are a low-risk driver. Here are some ways to get the cheapest car insurance.

Ask your insurance company representative if you qualify for premium discounts. You may get a cheap quote depending on your profession. For example, writers who work from home usually pay a low premium. They drive less and are not prone to hectic life schedules, since they work from home.

Learn the art of lowering the quotes. If you choose a residence closer to your workplace, you will pay a lower premium. Moreover, if your home is located in a safe neighborhood (low crime rate), you qualify for a cheaper quote.

Consider buying a multi-person policy. You can get coverage for more people under one policy. Put the names of family members under the name of the person who has the best driving record.

Renew policies from the same insurance company. Often companies provide discounts on renewals. The moment you establish a driving record with a company, it knows you are likely to get a cheaper quote from other providers. This qualifies you for a lower quote. Moreover, if you had no claims during your previous terms, you qualify for such discounts.

Take a defensive driver’s course. You will receive a certificate of defensive driving that you will have to submit to your company at the time of application. Taking this course lowers your premium substantially.

Submit your report card if you are a young driver studying at an educational institution. If your report card is excellent, you are likely to receive a cheaper quote.
Take advantage of being a senior citizen. You may qualify for senior discounts and get cheap insurance