LOS ANGELES, July 15, 2019 /PRNewswire-PRWeb/ -- Cheapquotesautoinsurance.com has launched a new blog post that presents the main factors that influence the price of commercial car insurance.
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Commercial car insurance protects a business's vehicles from unforeseen financial losses resulting from accidents or other covered events. For most businesses, it is important to keep policy premiums as low as possible without sacrificing coverage.
The factors that influence commercial car insurance are the following:
- The covered vehicles. The type, size, and the number of covered vehicles will have a great impact on the policy. The amount it has to be paid to insure heavy trucks, trailers, or tractors is different than the amount someone pays to insure his personal passenger vehicle. Large commercial vehicles can cause more significant damage in an accident. Therefore, insurance companies will charge more on commercial policies to address the greater risk they will have to pay out after an accident.
- Driving records of the employees. Depending on the driving record of employees who will be operating the commercial vehicles, premiums will be lower or higher. Businesses that want to pay less on their insurance should hire drivers that have a lot of commercial driving experience.
- Parking location. Where commercial vehicles are kept while they are not in use affects the costs of insurance. Parking the commercial vehicles in an open parking lot is not the best idea and the insurance premiums will be quite high. Preferably, the commercial vehicles should be kept in a well-monitored garage in order to pay less on car insurance.
- Number of miles driven. The risk of an accident is higher for commercial vehicles that are driven more. Businesses that own vehicles that are driven more than 300 miles per day will pay more on insurance than businesses that own vehicles that are driven less than 100 miles per day.
- Business location. A business that operates in a metropolitan area will pay more on insurance than a business that operates in a rural area. In a metro area, commercial vehicles are more exposed to accidents due to the higher density of population and an increased number of vehicles that are using the roads. Also, the chances for theft and vandalism are higher in a metro area.
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SOURCE Cheapquotesautoinsurance.com
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