What are some tips for choosing commercial van insurance?


Quick Answer

Choosing commercial van insurance requires shopping around and comparing rates to find the best deal. Maintain low commercial van insurance by reviewing the driving records of the organization’s employees to minimize the risks of accidents. Take advantage of discounts offered by commercial insurers for hiring drivers with commercial drivers’ licenses, according to DMV.org.

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What are some tips for choosing commercial van insurance?
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Full Answer

Get multiple quotes from insurers, and compare their prices based on the organization’s needs and budget. Reduce administrative or interest fees by making full premium payments and adopting different payment options, such as electronic funds transfers, recommends DMV.org.

Before committing a business to a commercial insurance policy, verify that the policy provides the requested coverage. Avoid signing a policy that states auto body repairs may use aftermarket parts since this is attempt by an insurer to cut costs, says Edmunds.com. The policy should cover the passengers or cargo that the van intends to be carrying since certain laws govern these, according to Entrepreneur.

Research the insurer’s track record for aspects such as financial stability and level of customer service on third-party sites that include your state’s Department of Insurance, Standard & Poors and Consumer Reports, notes Edmunds.com. Consider bundling the business’ policies to access discounted rates from the selected commercial insurer, says DMV.org.

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