Commercial Auto Insurance Myths busted by Hier Insurance

1. Commercial Auto Insurance Myths busted by Hier Insurance

2. Whenever you are out to buy a commercial auto insurance in Los Angeles make sure to have a fact check before actually buying the plan. It is not important to have an in-depth knowledge however your expectation setting from the commercial auto insurance plan needs to be realistic and clear. This will surely help you in the time of claim settlement since you know exactly if you are eligible for a claim or not. Apart from that if you understand the basics of your commercial auto insurance and find a gap in the coverage you can balance and cover it with other insurance instruments available with your insurance carrier.

3. Seasonal Businesses should cancel commercial auto insurance in off season • This is one myth carried by businesses who have a seasonal business like tourism professionals who might need their vehicles for one part of the year. Insurance companies are able to give discounts if you have continuous coverage all through the year.

4. However in case you are stopping and starting commercial auto insurance several times in a year according to your season you might end up spending more money on your insurance plans. Apart from that in case your car meets an accident or is damaged during the period of time that you don’t have insurance you won’t be able to claim anything from the insurance company. Thus it is pertinent to have insurance all through the year.

5. Employees driving own cars for business purposes don’t need commercial auto insurance • Your employees need to have their vehicles covered with a commercial auto insurance policy if they are using their vehicles for business purposes although the primary use of the vehicle is personal. Personal auto insurance policies do not have a wide scope as compared to a commercial auto insurance policy. To get firsthand information, call up Hier Insurance and know what is covered in a personal auto insurance policy and what is not. Apart from that the agent will also suggest you about the kind of coverage you need to have on the vehicles being used for your business.

6. The advantage of getting a commercial auto insurance on your vehicle is the coverage you get for rental vehicles, tele-matics and GPS equipment. Along with that many insurance companies cover auto loan and lease gap coverage. Thus your business will be protected in case one of your employee’s car meets an accident while on a business errand.

7. All Insurance companies work 24×7 • Many of the insurance companies do have a dedicated 24×7 open line to report losses bit not all of them. Generally insurance companies have fixed hours of working and you need to plan accordingly to get a quote, file claim, talk to someone from the insurance company and any other business you need to transact. Check with your insurance company for their working hours. An insurance company that is available 24×7 has a better chance of serving you better since they will be able to process your requests, claims and expectations whenever you need it. In this fast moving world where time is money an insurance company that works 24×7 is truly going to serve you in a better manner.

8. Color of the vehicle determines the premium • Color of the vehicle does not have any impact on the premium you are going to pay for your commercial auto insurance policy. The best known myth is that a red colored car will have a higher premium as compared to other colors. The insurance company doesn’t care what color your car is. The factors that really impact your insurance premium are the make, model, price and engine size, year of manufacture, popularity among car thieves and the safety rating of the vehicle.

9. As a business owner you need to take care and secure the assets being used by your business. Many business owners just gasp at the very mention of commercial auto insurance however this is one aspect of business that needs to be addressed quite carefully and promptly.