The renewal date for your commercial vehicle insurance policy is coming up. Before you sign the dotted line, K. L. Owens and Associates LLC has three things that you should consider that could save you big bucks and save you from potential liabilities.
1. Is Everyone Covered?
You policy should list everyone who regularly drives your company vehicles, but sometimes your other employees may drive them too. Before you sign on for another year of coverage, make sure that temporary drivers are covered on your policy. Ask if temporary drivers are covered as long as they have permission to use the vehicle. If not, make sure you add the names of all of your potential drivers to your policy.
2. What Coverage Should You Have in the Off-Season?
Does your business slow down according to the seasons? If there is a season of the year that your vehicles stay parked more than they are out on the road, consider dropping your coverage to Comprehensive-only. But, before you make this decision, check with the insurance laws in your state.
3. Are Employee Personal Vehicles Covered if They Have an Accident While On a Business Errand?
If your employees are regularly using their personal vehicles to conduct business errands, check your policy to see if they will be covered in the event of an accident. Often, standard Commercial Auto Policies do not provide this kind of coverage, but your insurance agent can walk you through your options.
Renewal time on your Commercial Automotive insurance policies means more than just signing the same paperwork. Renewal time gives you a chance to renew all of your policies with your insurance agent to be sure that you are getting the best coverage for the best rates. Call us at K. L. Owens and Associates LLC to be sure that all of your exposures are covered!
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