As the commercial auto insurance marketplace continues to harden, small business owners must understand ways to save on their auto insurance policy.

Although we expect business auto insurance premiums to level out or potentially decrease starting in 2022, Mike Fusco provides tips to help all business owners with their small business insurance.

You may also read our blog online by visiting this link: https://foagency.com/3-ways-to-save-on-your-business-auto-insurance-policy/.

KEEP YOUR OPTIONS OPEN BY HIRING WELL

Hiring an insurance broker and independent insurance agency is a strategy you’ll want to execute to ensure access to several business auto insurance companies.

Hiring drivers that won’t create issues during your search for a business auto insurance policy is equally as important.

Here are some tips for best driver hiring practices:

1) Hire mature drivers (25 years or older)

2) Ensure proper licensing

3) Check MVRs for clean driving history

The hiring process is critical and one that you should not overlook.

IMPLEMENT A DRIVING SAFETY TRAINING PROGRAM

A driving safety training program will help minimize your losses and keep your business auto insurance claims down.

Distracted driving is a major cause of commercial auto-related accidents.

You can help your drivers stay safe and aware by implementing a driving safety training program to advise on safety tips and precautions.

Fusco Orsini & Associates provides clients with free programs and offers them periodically. If you are a current client and missed the opportunity, feel free to contact your broker for assistance.

DO NOT LOWER YOUR LIMITS. BUT CONSIDER RAISING YOUR DEDUCTIBLES

We never advise our clients to lower their liability limits OR their uninsured motorist limits.

However, you may consider raising your liability limits on the physical damage portion of your policy if you find that you haven’t claimed under your comprehensive or collision coverage.

In many cases, we find that raising deductibles reduces the premium enough to have a surplus even after a claim filing and deductible payout.

Ask your broker for further details if interested.

LET’S START WORKING TOGETHER

The team at Fusco Orsini & Associates looks forward to connecting. Feel free to complete the form below to receive communication from one of our excellent brokers. Thank you again for visiting!