8 Tips to Help You Save Money on Your Business Auto Insurance Policy?

Hire safe drivers: Insurance premiums go up considerably if you hire an employee with points against their license, because they pose a greater risk of accident to your company. Instead, hire employees with clean driving records or, reserve the driving duty for those who do.

 Invest in training: Make safe driving classes mandatory for your employees. This shows your insurer you’re serious about safety and having your employees act properly when on the road.  

Raise your deductibles: It’s no secret that higher deductibles lower premiums. Review your budget annually and choose deductibles that you can afford to pay. 

Review your coverage annually: Review all your insurance annually so you can stay on top of inefficiencies and streamline both your policies and premiums. 

Lower your limits: Keep track of the value of your fleet and lower your limits accordingly so that you can keep your policy affordable. When it comes to medical and bodily injury coverage, don’t lower your limits too aggressively since these costs tend to increase over the year rather than decrease. 

Invest in anti-theft devices: Make sure you have tracking systems, steering wheel locking devices and alarms to help reduce the risk of theft and reduce your insurance premium. Also, make sure your cars are stored in well-lit areas to reduce the risk of vandalism or theft. 

Safety features: Make sure all your cars have airbags, automatic seatbelts and anti-lock brakes. These automated safety devices help reduce injuries when accidents occur, reducing possible medical expenses and your insurance company’s risk. 

Reduce endorsements: You can add endorsements like driver-other car and non-owned vehicle, but these endorsements will increase your premium. Evaluate their cost in relation to having a separate policy for your family or not allowing employees to drive their vehicles for company business.