Basic Coverage at the Lowest Price: Good option for businesses that have a stable driver and vehicle list and is willing to call to add or endorse any drivers within 30 days of hire.
Standard Coverage at a Great Price: Great option for businesses that have frequent changes in their driver list. Adds the Additional Driver Endorsement which allows eligible drivers to be added during the current policy term without notification as long as they were hired 30 days after the policy inception date. You must notify the insurance to add them on at the time of renewal.
Deluxe Coverage is the Best Protection for Your Money: Best option for businesses with frequent changes in their driver list, those that hire or borrow non-owned vehicles, and business required by their customers to carry insurance that covers all owned, hired, and non-owned vehicles (when eligible). This adds the Additional Driver Endorsement as in the standard policy but adds the Non-owned and Hired Auto endorsements provide liability coverage for vehicles rented, leased, borrowed, or hired from an employee, partner, family member, or any other member of the business or household. Also, when eligible, this adds Any Auto Coverage, which provides liability protection for any owned vehicle listed or acquired during the policy period. Any changes made during the year must be added at the time of renewal.
DISCOUNTS THAT CAN BE APPLIED:
- Business Experience: 3 or more years If the named insured’s current business began three or more years prior to the policy period inception year. Documentation is required. Examples of documentation may include: Three-year loss runs or declaration pages; government filings that show business start date; papers of incorporation or partnership deed; business license or permit; tax registration document (e.g., application for EIN, Form SS -4); three-year-old Schedule C, three-year-old utility bill, canceled check, or invoice; or other similar documentation.
- Prior consecutive insurance with not lapse in coverage: 1 yr or more if the name insured has had prior policies with no cancellation or expiration in between. Documentation is required in the form of declaration pages. Loss runs are required for a fleet policies (10 or more vehicles).
- Active General Liability Coverage: Documentation required must be in the form of a current declaration page, regardless of which agency you are insured through.
- EFT or Pay in Full: If you opt to pay your policy in full or allow to draft your monthly payments, there is usually a higher percentage of discount. How much depends on which company you are insured under.