Small businesses that fail to look for savings on commercial auto insurance in Waterbury may be missing out. With a little planning and research, there are several strategies that could help to reduce costs and keep more money in your pocket.
Waterbury Business Owners May Benefit by Making Wise Decisions Affecting Commercial Auto Insurance Costs
Forecasting business growth is a smart way to determine the number of vehicles you will need in the future. For example, many new entrepreneurs may start out with just one or two vehicles, but according to your business plan, you may need as many as 20.
Knowing how many vehicles you need can help you make wiser buying or rental decisions. You might also save on insurance costs with multi-car discounts. Many car dealers also offer good deals when buying a number of fleet vehicles.
In addition, any business with three or more vehicles could save by purchasing fleet insurance, which usually costs less. When buying trucks, vans, or cars, consider those that are used or are less expensive and those that offer fuel efficiency.
Insurance companies may pass on savings to business customers that purchase:
- Vehicles that are less likely to be stolen.
- Those that cost less to repair.
- Vehicles equipped with safety features and good safety records.
Repair and Maintenance Costs
After determining how many vehicles are needed, you should give some consideration to repairs and maintenance. Parts for some vehicles cost more and certain makes and models are more expensive to repair.
Although hiring a fleet manager for maintenance may be another business expense, it frequently saves on costly repairs in the long run.
Drivers with a history of accidents or poor driving records are costly to insure. Therefore, it is a smart idea to check with the DMV before hiring drivers. You should also be aware that drivers from ages 17 to 20 typically make more claims and cost more to insure.
Make sure that employees working as drivers in Waterbury have successfully completed safety or defensive driving courses to make them better drivers. This could result in reduced commercial auto insurance premiums.
Safety and Security Discounts on Commercial Auto Insurance in Waterbury and Beyond
Purchasing vehicles with safety and security devices like these or installing new ones could result in better security protection, a safer vehicle to drive, and possibly insurance discounts. Safety and security devices could include:
- Anti-lock brakes help to maintain traction and prevent skids.
- Automatic seat belts.
- A system for detecting blind-spots.
- Daytime running lights that can attract attention and make your vehicle more noticeable to pedestrians and other drivers.
- Special warning systems, which can detect the distance and speed of other nearby vehicles when changing lanes.
- Passenger and driver-side airbags that activate automatically.
- Response systems that activate during emergencies to unlock doors, cut the fuel or notify emergency response centers when there has been an accident or airbags have been deployed.
- GPS tracking systems that can help to recover stolen vehicles.
- Anti-theft systems like steering wheel locks, The Club, alarm systems, or Smart Keys, which may prevent a vehicle from being stolen.
- Front and rear-facing cameras that can prevent accidents and provide documentation of an accident for insurance companies.
Choosing less costly vehicles to insure, installing security and safety devices, and making sure drivers complete driving safety courses are just a few methods that can save your company money and help to reduce Waterbury commercial auto insurance costs.
This material is for informational purposes only. All statements herein are subject to the provision, exclusions and conditions of the applicable policy. For an actual description of all coverages, terms and conditions, refer to the insurance policy.
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