April 18, 2011

How To Secure Auto Insurance Discounts For Courier Vehicles

Do not make the mistake of presuming that auto insurance discounts are not available for commercial vehicles. You may run a courier business and may own many courier vehicles plying on the road on a daily basis. In such a scenario, a very high automobile insurance bill for all your courier vehicles can lead to huge overheads. What auto insurance discounts are available for such vehicles?

The simplest way to get a discount on your courier vehicle is to pay the premium in full. Choosing the monthly premium option may lead to increase in cost by as much as 15% of your total premium. You will be saving this amount if you accumulate money on a monthly basis and pay the premium in lump sum. Politely refuse when your automobile insurance company offers a monthly installment facility. Instead, chose the annual payment method.

How many vehicles do you need to insure at once? This obviously impacts your auto insurance discounts. If you are insuring multiple vehicles and apply for multiple policies from the same company, you can easily negotiate better discounts and deals. Of course, insuring many high-risk vehicles and properties at once may not result in significant savings. However, combining multiple policies with a single insurer is always a sure way to increase your chances of securing a discount.

Third, pay special attention to the quality of drivers you appoint for your business. A courier vehicle is obviously going to run a large number of miles in a year. The higher the mileage, the higher chances of an accident. This will automatically push your insurance premium higher. If you appoint qualified drivers who have defensive driving course certificates and a good record, you can easily avoid surcharges and reduce your premium.

Fourth, the longer you stay in business, the lower your premiums. There are some companies that offer discounts for those organizations that have been in business for three years or more. Many individuals start commercial ventures in a bid to earn quick money, and they are considered a high risk and are charged high premiums by insurance companies. You can get discounts on your courier vehicles if you have been in business for a relatively longer period.

Finally, understand the various terms and conditions used in your policy. Do you need Goods in Transit coverage? If your customers never seek insurance protection for goods in transit, you can decline this coverage to bring down your premium accordingly. You can always offer the option, and charge your customer when you need extra protection for the goods in transit, as well as the couriers. With these concrete steps, you can significantly lower your overhead for insurance premiums.