How To Save on Insurance
Commercial auto insurance is a large expense your business undertakes, so finding ways to reduce the cost of insurance can provide immediate savings.
Progressive offers affordable commercial auto insurance for businesses just like yours, and we continually find ways to keep insurance affordable. In 2006, we lowered our commercial auto insurance rates in most states, resulting in an average savings of $200 per policy for our customers.
You can take steps to save money on commercial auto insurance, too. Below are money-saving tips you can follow right now — or use them to save money on your commercial auto insurance in the future.
Tips to Save Money on Commercial Auto Insurance
Here are a few ways you can save money on your commercial auto insurance:
Increase Your Deductibles
- Choosing higher deductibles for your Physical Damage insurance is an easy way to lower the price of your insurance. Be sure you choose a deductible that you can afford to pay out of pocket at any time.
Pay Your Insurance In Full
- If you pay your entire insurance premium up front, you'll receive a Paid-in-Full discount of up to 5 percent off your premium.
Pay By Electronic Funds Transfer (EFT)
- If you don't want to pay in full, you can choose one of our EFT payment plans. EFT deducts your payments directly from your checking account, which saves you time and effort. Plus, it saves you money because we waive the usual check processing fees.
Insure Other Vehicles with Progressive
- If you have a Progressive Commercial policy and you insure your personal vehicles with Progressive, too, we'll give you a multi-policy discount on your personal auto insurance.
Discounts
To show our appreciation for our valued customers, we have three discounts designed exclusively for our commercial auto insurance customers. Qualifying for just one could save you as much as 15 percent on your insurance.
Experienced Business Discount
- If you've been in business for more than three years, you'll receive our Experienced Business discount, which could save you as much as 10 percent.
Experienced Commercial Driver Discount
- You spend time and effort earning your Commercial Driver's License (CDL), which is why we reward dedicated drivers like you with our Experienced Commercial Driver discount. Let us know how long you've had your CDL and you could save as much as 15 percent on your commercial auto insurance.
Anti-Theft Device Discount
- Many vehicles are now equipped with anti-theft homing devices that allow law enforcement to track stolen vehicles. Let us know if your vehicle has a service like OnStar®, and you'll qualify for our Anti-Theft Device discount.
Other Factors That Impact Your Commercial Auto Insurance Rate
The following tips can help reduce the amount you pay for commercial auto insurance. All are factors used to help determine your insurance premium, and being aware of how these factors impact your policy can help you make the right decisions to keep your insurance prices down.
Drive Safely
- Safe driving in the past is the best indicator that you'll continue to drive safely in the future. When you maintain a clean driving record, your insurance price can reflect that.
- If you don't have the best driving history, that's OK, too. At Progressive, we "forget" about your past accidents and tickets after just three years. Other companies may keep accidents on record for five years or more, but not at Progressive.
Maintain Continuous Insurance Coverage
- When you provide us with proof of continuous prior insurance for the last three years, you'll save money on your insurance. That's because maintaining continuous insurance coverage shows that you're a responsible vehicle owner.
- Even seasonal businesses should consider keeping at least Comprehensive coverage on their vehicles at all times. It may actually be less expensive to pay a little each month for insurance than to pay high insurance surcharges caused by lapses in insurance coverage.
- Plus, with a Progressive Commercial policy, your prior insurance doesn't have to be for your business — a personal insurance policy can be proof of continuous coverage, too.
Keep a Good Credit History
- A good credit report can save you serious money. Most insurance companies automatically request your credit report when you shop for an insurance policy. If yours looks good, you automatically qualify for a better insurance rate. After all, people who are responsible about paying their bills tend to be responsible in other areas, too.
Park Your Vehicles in a Safe Location
- Is your business in a safe neighborhood? Whether it's a lack of theft or a lack of accidents, parking your vehicles in an area where they're less likely to encounter a problem will help keep your insurance price down.
- If you park your vehicles somewhere other than your headquarters, let us know and we'll be sure you get the right price for your real garaging address.
Be an Experienced Driver
- Experienced drivers are familiar with the rules of the road. With more years behind the wheel, they know what do to avoid an accident. So the number of candles on your birthday cake could help reduce your insurance rate.
Have a Stable Family
- Just getting married can save you money on insurance. If you have a spouse, we'll make sure your insurance policy reflects that. It's a proven fact that married people often drive more cautiously, and we price your insurance accordingly.
Drive a Safe Vehicle
- You can receive insurance discounts simply if your vehicle has safety features, such as side impact air bags or anti-lock brakes. Safety features can protect you and your vehicle, which means a better insurance price for you.
It's important to note that not all discounts and pricing factors are available in every state and situation. Contact us today to learn more about your insurance options and to get a customized commercial auto insurance quote.