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Finding Better Insurance Plans

After I switched jobs, I knew I would probably be faced with choosing a new insurance policy. I was nervous about the transition, but I knew it had to be better than the plan I had been using at my old job. I started going through the options with the human resources person, and it took me a long time to understand the different options. After a thorough evaluation, I opted for a health savings account, which let me keep a large percentage of what I would normally be paying in premiums every single month. Check out this blog for more information about health insurance plans.

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4 Mistakes To Avoid With Commercial Auto Insurance

If you own a business, then making sure you're properly covered is key. Otherwise, all it takes is one accident or incident to potentially put your company out of business. At your physical business location, you likely already have building insurance and liability coverage in place. However, if you own or rent any company vehicles, you may need a commercial auto insurance policy on top of that.

Unfortunately, there are a lot of common mistakes business owners make when it comes to commercial auto coverage. By being aware of these (and how to avoid them), you can run your business with confidence and peace of mind.

Not Knowing When You Need It

The biggest mistake you can make is forgoing commercial auto coverage altogether. All too often, business owners will assume that their personal auto insurance policies (or those of their workers) are enough to cover them in the event of an accident in a company vehicle. In reality, a typical auto insurance policy will not extend coverage to accidents or incidents that occur in commercial vehicles. This applies not only to liability protection but to property damage as well.

Focusing on Cost Over Coverage

Smart business owners are always looking for ways to save money, but a commercial auto insurance policy is not a place to cut corners. Rather than focusing on the total price for your quoted premium, it's better to focus on the value and coverage you're getting for your money. You wouldn't skimp on other aspects of protecting your business, after all.

Overlooking Fleet Coverage

The good news is that if you are looking to save money on your commercial auto insurance without sacrificing coverage in the process, most insurance companies offer fleet policies. These policies offer commercial auto insurance for companies that own a large fleet of vehicles and need them all protected at once.

Neglecting to Insure Mobile Equipment

If you have any mobile equipment that your business uses on a regular basis (such as a forklift or other machinery), make sure these are covered as well. Most insurance companies that offer commercial auto insurance offer rider policies for these types of mobile equipment so you can enjoy the convenience of covering everything under one policy. 

Insuring your company's fleet vehicles and mobile equipment is a must for your peace of mind and your employees' safety. Just be sure to avoid these common mistakes when it comes to commercial auto insurance coverage.