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Commercial Auto Insurance Companies

Choosing a commercial auto insurance company or agent should be based on items such as stability, service, and price. Often agents or providers will offer different programs and policies from several insurers.

The price of the policy can vary from one insurer to the next and yet the coverage is the same. Check with several insurers before choosing the best policy. Once you’ve compared the pricing, check to make sure the insurance company is stable. You can do this by checking insurance rating at services like A.M. Best. You want a company with a rating of B+ or better.

Check reviews and the better business bureau to insure the insurance company holding your policy has an excellent customer service rating. You will also need to ensure that the company you choose has a brick and mortar location and is registered to sell insurance in your state. You can check this out by searching your state’s insurance department online. They should have a website that provides this information.

Understand Policy Options

Once you’ve chosen a couple of insurance companies, make sure you have the agent or brokers explain policy options that may benefit your business. For instance:

  • There are sometimes ways to combine vehicle deductibles on your commercial insurance if your business insures multiple vehicles. A single deductible endorsement allows you to pay only one deductible if a catastrophe occurs, taking out several of your commercial vehicles. Having this endorsement allows you to only pay one deductible, instead of one for each vehicle.
  • Or you may want to pursue unlisted vehicle coverage as an option if you need to expand your commercial insurance policy protection to vehicles you rent, or even to employee vehicles, if they use them for work. This may be advantageous for food delivery companies.
  • If your business is a sole proprietorship, you may benefit from an individual named insured endorsement. This endorsement works when you, your spouse, or related members of your household use rented, leased, or borrowed vehicles for business or commercial use.

Commercial Auto Insurance Providers

You may want to consider choosing a company that has been in business for at least ten years, they may not provide the cheapest premium, but they typically offer additional services that make up for the difference in cost. Some of the established insurance companies that offer commercial auto insurance include:

  • Progressive – Which offers not only commercial auto insurance through agencies and brokers, but they also provide commercial auto loans. This company was founded over sixty years ago.
  • GEICO – Not many realize that GEICO started as the Government Employees Insurance Company. It is now open to insure anyone in all fifty of the United States. GEICO has been in business for seventy-five years.
  • Liberty Mutual – Is another company with almost ninety years of experience. They also provide personal auto, life, and home insurance.
  • AIG or American International Group – Has operations in the US and over one hundred other countries. This world leader offers insurance as well as retirement plans, asset management, and other financial services.
  • Safeco Insurance – is available through a network of agents and brokers that stretches across the United States. They have been in business since 1923.
  • Mercury Insurance Group – has been offering affordable commercial insurance products for over forty-five years.
  • Nationwide – Began in 1925, but changed the name to Nationwide in 1955. This company is one of the largest commercial insurance providers in the world.
  • AAA Insurance – Is actually a non-profit lobby group offering car insurance. This American Automobile Association was founded over a hundred years ago and they can help you find an agent for commercial auto insurance.

These aren’t the only good insurance companies available that provide commercial auto insurance. There are others available that can provide the service and coverage that you need for your business.

Summary

Finding the best commercial auto insurance company can take a little research. You want a company that is registered and has a physical presence in your state, who has a good rating, and who has been in business for at least ten years. The big players in the industry include companies like Progressive, GEICO, and Nationwide. You can start your search by going online and getting several competitive commercial insurance quotes at one time. This can be done here.

It is important that your agent or broker understand your business and what you use the vehicles for in order to give you the best quote and talk to you about commercial insurance options that will benefit your business. The more they know about you and your business, the more they can make suggestions on ways to keep the costs down and increase coverage on your commercial vehicles. Sometimes combining a commercial policy with other insurance policies can also bring your company savings.

Not All Car Insurance Companies Are the Same

Anyone who owns a car knows that they must have some type of car insurance if they are going to drive on public highways. This is true in almost every state. This insurance is designed to protect not only the owner of the car but also other drivers on the roads that might be hurt due to an accident involving the insured’s car. It is also important to note that not all car insurance companies are the same and researching insurance options is a vital part of getting the best and most economical car insurance.

Comparing Car Insurance Companies

Purchasing an auto insurance policy is more than simply comparing prices and choosing the one with the best quote. It is important to get an understanding of the company that is offering the insurance. If the company is solid then the policy will most likely be a good one; however, if the auto insurance policy is bought from a company that is not solid, there is always the chance that the policy will be useless when and if a claim is ever made.

There are many different types of car insurance companies and the first step to obtaining a quality policy is to find one that meets the current needs. Some of these insurance companies include:

  • High risk auto insurance companies: These companies specialize in offering insurance to high risk drivers, such as those who have prior DUIs or have been charged with reckless driving and have to pay higher premiums.
  • Family auto insurance companies: These are typical auto insurance companies that offer car insurance and may also offer homeowners and life insurance.
  • Business and commercial auto insurance companies: These companies specialize in fleet and business auto insurance.
  • Elderly driving insurance: These insurance companies deal only with elderly drivers and offer them the insurance they need to stay protected during their golden years.

Once the type of insurance company has been determined, the next step is to compare the companies in order to come up with a short list and ultimately make a decision on one company. The following tips will help make the best decision on which insurance company to choose for car insurance.

  • Financial Strength: It is important that financial strengths are compared. The bottom line is that insurance is ultimately purchased in order to protect a person financially. The insurance company that is ultimately selected needs to be financially secure so that when a claim is made they will be able to meet their financial obligations.

Researching the financial strength of a company is not difficult. The Internet offers access to companies like A. M. Best and J.W. Powers. These companies rate insurance companies based on their financial strength. Companies that have an “excellent” or “superior” rating are safe bets. Any rating less than superior should be avoided as the company could have a hard time meeting financial obligations, such as paying out claims.

  • Customer Service: An insurance policy is no good if the insured can’t get help when it is needed. Check the company’s website to find out what their customer service hours are and if they offer alternate means of communicating with their agents. Some insurance companies have agents that are on duty 24-hours a day.
  • Payment Options: Compare the payment options that each company offers. Do they penalize for mail-in payments? Do they offer discounts for electronic payments? Do they accept credit card payments? What is the grace period?
  • Coverage: Compare the types of coverage that the plans offer. Every insurance company offers the basics; however, some companies offer extra services such as roadside assistance and rental reimbursement. If these are important, the company selected will need to be able to provide them.
  • Ask for advice: Friends and family members that have auto insurance are an excellent way of getting good advice on car insurance companies. Ask specific questions, such as how long it took to have a claim paid or what types of discounts the company offers.
  • Read Reviews: In addition to asking friends and family about their insurance, go on the web and read the reviews that are posted on insurance forums. People go on these sites to share their experience with insurance companies so that other people can use their advice. In addition, many insurance companies post their customer reviews on their website to help potential clients make a decision.

Using these tips to uncover the best car insurance companies will make it easier to come to an ultimate decision and choose the company that meets all the insurance needs. Not all car insurance companies are the same and using tools to compare the various ones will help bring the best ones to the forefront and make a decision easy.

Finding the Best Auto Insurance Companies

Auto insurance is an important expense that anyone with a car should have and in most states must have. Shopping for car insurance should not be done lightly as this insurance is a form of protection in the event of an accident or damage to the car. Finding the best auto insurance companies takes some time and research but in the end will be worth it if the policy is ever needed.

Finding the best auto insurance company is not going to be neither the fastest task nor the easiest task. Auto insurance companies can vary greatly from one company to another and finding these minor differences and weighing them is part of the process. One company might offer perks that another company doesn’t but in the end the value of those perks must be weighed against the other traits of the company.

How to Find the Best Car Insurance

There are many different aspects of an insurance company that should be researched and there are many different places to get good information about insurance companies. The following is a breakdown of the best places to find out about car insurance companies and the questions that should be asked about the companies.

Where to Find Information

One of the best places to find information about auto insurance companies is through J.D. Powers and Associates. This is an independent reviewer of insurance companies. The reviews are based on factual data gathered from the insurance companies and used to rank the best companies.

Friends and family members who have cars are another good source of information about insurance companies. It is better to ask those who have had their insurance carrier for a long period of time. This will give a better overall picture of the company than asking someone who has only had their policy for a short time.

Garages and auto repairs companies are another good source of information about car insurance companies. These businesses deal with the insurance companies on a daily basis and can give excellent insight into how various companies handle claims.

Finally, the Internet is an excellent source of information. The Internet offers access to the Better Business Bureau which handles complaints against companies. Car owners can also research individual companies and learn more about them and their history.

What to Look for and Ask About

Financial strength is one of the most important things that should be looked at when researching auto insurance companies. If the company does not have financial strength then there is the possibility of them not being able to pay out on claims and the added possibility of policy premiums continually being adjusted to compensate for the lack of financial strength.

Consumer complaints about the company should be another area that is researched thoroughly. Regardless of how high an insurance company is ranked by a ratings company, consumer complaints are the best determinant about how the company handles its clients and claims.

Customer service should never be overlooked. An insurance policy is of little use if the customer service is lacking. When an accident occurs it is important that someone be available to handle the claim and get the paperwork started. The customer service department should also be reliable in returning phone calls and giving accurate information. Nothing is more frustrating than being in an accident and waiting on a call back from the insurance company only to have to call them back because of a lack of customer service.

Policy premiums should also be an area that is researched but should be compared based on what each policy offers. When comparing policy prices it is important that apples are compared to apples. It doesn’t work to compare a policy premium that includes collision to one that doesn’t, the price difference is going to be dramatic due the coverage bring different.

Knowing where to find information about insurance companies and what to ask when researching the companies is the first step in finding the best auto insurance company.

Know What is Needed in Auto Insurance

It is important to know what is needed in the auto policy in order to find the company that is able to offer exactly what is needed. Every consumer has different needs when it comes to auto insurance and those needs are broken down into the policy details. Some of the policy details that should be considered include:

  • Coverage amounts – polices can be written for the minimum amount required by state laws or as high as the insured can afford to pay.
  • Rental Coverage – if the insured car is out of commission does the policy offer rental coverage?
  • Roadside Assistance: Does the insurance policy offer roadside assistance should the car break down? Some polices include this as a perk.
  • Bundled Packages: Does the company offer discounts for multiple vehicles or multiple policies, such as home owner’s insurance.

Following the information presented here is the best way to find the best auto insurance companies and ultimately choosing the one that meets every need in the best possible way.