All smart and savvy business owners understand the value in making sure that they are expenses are as low as humanly possible without hindering their business at the same time.
At the same time, there are a lot of otherwise smart and savvy business owners that just do not pay as close attention to the cost of commercial auto insurance NJ plans – and then they end up wasting a lot more money than they should be on coverage that may not be able to protect them quite as well as they had hoped.
That’s why we have created this quick guide.
By the time you’re done with the inside information that we have to offer you below you are going to know exactly what you’re getting into when you purchase commercial auto insurance NJ plans to protect your business vehicles.
You’ll be able to unlock significant savings on your coverage – regardless of whether or not you have one car or an entire fleet that need to be covered – and you’ll be able to sort through all of the different options to give yourself the best deal you can get in the state of New Jersey.
Let’s get right into it.
Only hire employee drivers with crystal-clear driving records
It shouldn’t come as a surprise to anyone that the driving record of your company drivers will be looked at as closely as humanly possible, and that these driving records will have a tremendous impact on the amount of money that you have to pay.
Driving records are one of the biggest influencing criteria that you have to pay attention to when you are purchasing any type of coverage, but when you’re talking about commercial coverage you have to make sure that everyone that you employ – those that will be behind the you’ll come anyway – has a fantastic driving record so that doesn’t drag down everyone else.
This is something that you’ll want to look into during the hiring process, and you’ll want to try and find employees with crystal-clear driving records that allow you to get the best and least expensive commercial auto insurance NJ companies have to offer.
Make sure that you ALWAYS have continuous coverage
It’s also of the utmost importance that you do everything in your power to continue coverage on a regular basis with absolutely no breaks in between.
Most business owners are surprised to learn that lapses in coverage can “reset” they are relationship with commercial auto insurance NJ companies, and that those companies are going to charge them higher fees than they were in the past just because of these lapses.
You’ll almost always find companies and jack up the prices when there has been a break in coverage – not necessarily only with their company but also with their competitors – which is why you’ll want to be sure that you keep continuous coverage on all of your vehicles even if they aren’t being used as frequently as they were in the past.
In some circumstances it can be cheaper to keep continuous coverage on vehicles that never leave the lot the man to cut coverage and then try to restart it later down the line.
Ask your commercial auto insurance NJ representative for deals and discounts
As a business owner you are going to have a lot of leverage under your belt when it comes time to ask for deals and discounts from your representatives.
You want today can as much advantage of this leverage as possible, really squeezing the companies that you work with as much as you can to get better deals, better discounts, and better prices on your protection.
A little bit of hardball negotiating can go a long way towards making sure that you get better coverage terms and better payment plans, but you should also be able to dramatically reduce your out-of-pocket costs on policies with this kind of approach as well.
It never hurts to ask!
Keep a close eye on your company’s credit history and credit rating
Your credit rating and your credit history are going to have a major impact on the amount of money that you have to spend on your commercial auto insurance, and you need to be 100% certain that both of those credit factors are in as solid a position as they can be.
Obviously there are lots of benefits to keeping your commercial credit in picture perfect condition, but you may not have completely understood how valuable it can be when it comes time to get a commercial car policy.
Always shop around for better deals
At the end of the day, it’s always a good idea to do a little bit of shopping to make sure that you are getting the best deal and the best discount on commercial auto insurance available.
Put your policy “up for review” every year and you’ll be sure to get the best deal on the best coverage around, the kind of coverage NJ companies usually charge a lot more for!