In order to help your small business succeed, you need to concentrate on limiting your spending as much as you concentrate on generating revenue. One major expense that can often be lessened are business auto insurance premiums. Companies can literally save thousands of dollars per year by taking advantage of discounts that are being offered by the various car insurance companies. Knowing what these discounts are and how to qualify for them can help you save your company valuable dollars. Below is a description of the 3 best discounts to go after.
1) Safe storage discount. What are you doing with your company vehicles when they are sitting idle or not in use. The way in which you store them can make a major difference in the amount you pay for auto coverage. Keep them in an enclosed area if at all possible. Also, keep them in a fenced or barricaded lot that is well lit and as secure as possible. Last, installing anti theft devices of all kinds will help to get your rates much lower too.
2) Loyalty program discount. Since you have to get a lot of other insurance policies to protect your business and meet legal requirements, combining your policies can net you big savings on each policy. Getting your business car insurance policy with the same company that you hold other business insurance policies with can save your company a lot of money.
3) Driver’s education courses. Requiring that your employees who are authorized to operate the company vehicles take a driver’s education course before doing so will qualify your company for big discounts. Make sure to only allow employees who have perfect driving records to drive the company cars for even lower rates.