Here are two probable facts regarding commercial auto
insurance:
1. You probably don't have enough coverage.
2. You're probably paying too much for what you do
have.
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Once you've taken out the minimum auto insurance required by
law, it's relatively inexpensive to increase your liability
coverage, says David Snyder, assistant general counsel of the
American Insurance Association. "Additional layers of
coverage, even up to $1 million or more, don't cost that much
more money," he explains.
Smart planning about deductibles can also keep your policy
expenses down. "If you're more likely to write off a
$1,000 expense than report it to an insurance company, then why are
you carrying a $250 deductible?" asks Barry Schimel,
co-founder of the Institute of Profit Advisors, a national
consortium of business consultants in Chicago. Schimel also advises
staying on top of seasonal changes in vehicle usage and
discontinuing insurance coverage whenever a vehicle isn't used
regularly.
Contact Sources
N.P. James Insurance Agency, (978) 369-2771, http://www.npjames.com
Barry Schimel, (800) WE PROFIT, http://www.weprofit.com
Sharp Thunstrom & Batson, (619) 463-5548, bobsharp@stbcpa.com
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