A Beginner’s Guide to Commercial Vehicle Insurance

There are many things to prepare before you compare commercial vehicle insurance quotes from different insurance companies. Whether you need commercial truck insurance or insurance for a different type of commercial vehicle, these helpful tips should guide you and help you make the right choice.

Current Commercial Vehicle Policy

If you presently have a commercial vehicle policy, prepare a copy of the declaration page. It should help the insurance carrier determine the kind of insurance you need and how to customize the commercial vehicle quote in order to meet the needs of your business. If you are just starting out with your business and will get a commercial vehicle insurance policy for the first time, you can present your personal car insurance as their basis for the commercial vehicle quote.

Company or Business Information

Your insurance agent may ask you questions about the commercial vehicle and your answers will impact the total insurance premium. You may be asked how the commercial vehicle is being used for your business, if your driver is employed by you or by an agency, whether the vehicle transports goods or passengers, if the vehicle is driven at long distances or within city driving, and the like.

The insurance carrier will review your credit report as well as that of your business to guarantee your financial capability and also to come up with an accurate commercial quote.

Commercial Vehicle Information

If you have information about your commercial vehicle(s) from your present policy, you can submit that to the insurance carrier. Otherwise, just prepare a list of the vehicle(s) that you will use for the business along with the following details:

  • Make
  • Model
  • Year
  • Cost during acquisition
  • Gross vehicle weight
  • Current mileage
  • Vehicle identification number (VIN)
  • Driver information (complete name, birthdate, social security number, driver’s license number)

The insurance carrier will get in touch with your state’s DMV and evaluate the driving records of each driver on your list.

History of Loss or Past Claims

If you have any history of vehicle insurance claims in the last three years, it’s best to disclose this to the insurance carrier. Having no history of any loss in the given time means lesser premium and commercial vehicle quote.

How to Get Lower Commercial Vehicle Insurance Quotes

If you are scouting for affordable vehicle insurance quotes, don’t miss out on the discounts and credits that your insurance carrier may offer. Do not hesitate to ask if they have current promos and discount that you can take advantage of. In general, these 2 important factors are sure to save you money when searching for the best commercial vehicle quote:

  • Insurance carriers normally offer discounts if you or your business has not filed insurance claims for a serious accident for the past three years
  • Proof of continuous insurance coverage of your present commercial vehicle/s e.g. declaration page of your insurance policy will most likely give you lower premiums

er’s Guide to Commercial Vehicle Insurance
There are many things to prepare before you compare commercial vehicle insurance quotes from different insurance companies. Whether you need commercial truck insurance or insurance for a different type of commercial vehicle, these helpful tips should guide you and help you make the right choice.
Current Commercial Vehicle Policy
If you presently have a commercial vehicle policy, prepare a copy of the declaration page. It should help the insurance carrier determine the kind of insurance you need and how to customize the commercial vehicle quote in order to meet the needs of your business. If you are just starting out with your business and will get a commercial vehicle insurance policy for the first time, you can present your personal car insurance as their basis for the commercial vehicle quote.
Company or Business Information
Your insurance agent may ask you questions about the commercial vehicle and your answers will impact the total insurance premium. You may be asked how the commercial vehicle is being used for your business, if your driver is employed by you or by an agency, whether the vehicle transports goods or passengers, if the vehicle is driven at long distances or within city driving, and the like.
The insurance carrier will review your credit report as well as that of your business to guarantee your financial capability and also to come up with an accurate commercial quote.
Commercial Vehicle Information
If you have information about your commercial vehicle(s) from your present policy, you can submit that to the insurance carrier. Otherwise, just prepare a list of the vehicle(s) that you will use for the business along with the following details:
Make
Model
Year
Cost during acquisition
Gross vehicle weight
Current mileage
Vehicle identification number (VIN)
Driver information (complete name, birthdate, social security number, driver’s license number)
The insurance carrier will get in touch with your state’s DMV and evaluate the driving records of each driver on your list.
History of Loss or Past Claims
If you have any history of vehicle insurance claims in the last three years, it’s best to disclose this to the insurance carrier. Having no history of any loss in the given time means lesser premium and commercial vehicle quote.
How to Get Lower Commercial Vehicle Insurance Quotes
If you are scouting for affordable vehicle insurance quotes, don’t miss out on the discounts and credits that your insurance carrier may offer. Do not hesitate to ask if they have current promos and discount that you can take advantage of. In general, these 2 important factors are sure to save you money when searching for the best commercial vehicle quote:
Insurance carriers normally offer discounts if you or your business has not filed insurance claims for a serious accident for the past three years
Proof of continuous insurance coverage of your present commercial vehicle/s e.g. declaration page of your insurance policy will most likely give you lower premiums