|Pronto Insurance Agency||425-746-2346|
You want to save money on your vehicle insurance, but cutting back on coverage isn’t the answer. That definitely holds true for your vehicle insurance. If one of your tow trucks is in an accident, not having the right coverage could cost you twice: not only will you have to pay to get the truck repaired, you’ll also lose out on jobs while it’s in the shop.
Instead of scrimping on coverage, think about these other ways to save:
Consider raising your deductibles. If you would rather save a little money today but pay more out-of-pocket in the event your vehicles are damaged or stolen, a higher deductible may be right for you.
Keep in mind that driving history influences rates. Run Motor Vehicle Reports (MVRs) on potential hires. Your agent can help with this, just make sure to notify your employee(s) first. Also, tow businesses that require larger vehicles and whose drivers hold Commercial Drivers’ Licenses (CDLs) may qualify for pricing discounts.
Think about how you’re going to pay. Some insurers have significant finance charges associated with their bill plans, or don’t have flexibility in payment schedules. Look for companies that offer flexible pay plans, including low initial payments and no finance charges.
Shop around for insurance. One of the easiest ways to save money is to make sure you have a vehicle insurance plan that fits your business’ needs. While commercial auto insurance can seem complicated, understanding the carriers, coverages and services available to you is the key to making an informed decision for your business. Coverages like On-Hook Legal Liability and Garagekeepers Legal Liability are designed specifically for tow businesses:
On-Hook Legal Liability covers towed property, and was recently expanded to cover more than just the vehicle you have in tow. Cargo like equipment or raw materials and select personal items in towed vehicles are now covered if they’re damaged at any time between pick up and delivery. Plus, coverage for transmission and transaxle damage is now included. Limits for this truck insurance coverage are now available up to $100,000.
Garagekeepers Legal Liability Liability covers vehicles being serviced, repaired or stored at up to three business locations. This coverage is also now available in limits up to $100,000.
Also, check with your insurance carrier to see what discounts they offer. Some carriers offer discounts to companies who pay in full, have been in business for more than three years, and more.
Regularly reviewing insurance costs can both save you money and keep your business moving forward. We’ll be glad to help. We can quote competitive tow rates and important tow coverages on the spot. Call us today.
|Commercial Auto||Contractors||Personal Lines||Business Owners||Surety Bonds|