Like any responsible business owner, you want to protect your employees while on the road. Therefore, a comprehensive and customized Glen Rock Commercial Auto Insurance policy is a necessity. However, many business owners are not aware of the implications and limitations of this coverage and often expose themselves to risks unknowingly. With that said, it’s important to dispel the common misconceptions about commercial auto coverage to better inform business owners like yourself.
#1: All of my employees are covered while operating company vehicles.
Depending on your policy, named drivers might only be insured. Therefore, every employee who drives the company vehicles and is not a named driver is exposing your business to risk. Any accidents or property damage caused by uninsured drivers will not be covered by your commercial auto insurance policy. Bear in mind that clean driving histories for your named drivers can reduce your premium price!
#2: I can cancel my premium during the off-season to save money.
Depending on your business and industry, you may have off-seasons where you don’t operate. Especially in the cold New Jersey winters, you might shut the business down seasonally. While it may be tempting to cancel your policy to save money, you may be doing the opposite. If you reinstate your policy during the peak season, you may be charged peak prices, says Quote Pie. So, it’s best to keep your policy year-round.
#3: I have to pay my premium in full up front.
This is a common misconception. While you are encouraged to do so and might even be eligible for certain discounts for paying up front, it is common to pay in monthly installments.
At David G. Sayles Insurance Services, we design policies that are tailored to meet your business’ specific risk exposures. We pride ourselves on providing quality customer service to New Jersey residents and beyond for more than 35 years. For more information about our products, contact us today at (855) 977-1842.