FACTORS THAT AFFECT COMMERCIAL AUTO INSURANCE IN MARYLAND
Some businesses operate solely within an office and employees are never required to leave the premises for business purposes. However, for the businesses that depend on delivery or off-site services with company vehicles, commercial auto insurance is a requirement in the state of Maryland. Not only is it to protect other commuters, but to protect your commercial vehicles and employees from expensive costs in the event of an accident.
You’ll want to protect the livelihood of your business and avoiding commercial auto insurance could be a direct hit to the life of your business. It’s better to be protected than stuck in a difficult situation.
You may be wondering: well, how much are commercial auto insurance premiums? The answer is that it really depends. It depends on several factors within the state of Maryland:
Types of vehicles: premiums are based on the number of vehicles you need to insure and types of vehicles. Gross vehicle weight affects premium
Driving and claims record: depending on the personal driving record of employees who will be operating commercial vehicles, premiums could be higher or lower.
Coverage amount: as with any insurance, the amount of coverage you desire is directly related to the premium you’ll pay. If you depend on commercial vehicles for your business’s livelihood, then you will want more coverage to protect your commercial and personal assets.
Garage location: this may seem odd, but where you keep your commercial vehicle(s) when it’s not in use can affect your premium. Are you parking it in a vulnerable area or are you keeping it safe? If you have a fleet of vehicles are they split up over time where if destruction would be caused to the garaging location, would the entire fleet be lost?
Safety of vehicle: the more safety devices the vehicle comes equipped with, the less a premium on that particular vehicle will be.
The list seems daunting, and it is rather lengthy, but so many factors go into calculating your premium for your commercial vehicle. Overlooking one area could cost you some serious cash, which is why it’s important to work directly with insurance professionals who won’t overlook anything.
Here at Crawford Yingling Insurance, we’ll provide our expert knowledge of Maryland commercial auto insurance so you don’t get ripped off in any area. We’ll discuss the range of options you’re entitled to and then offer our wisdom regarding your commercial condition.
We want to keep your business intact as much as you do, which is why we’re willing to go to greater lengths to protect you, your staff and commercial vehicles from harm. Start today by speaking with one of our insurance professionals and we’ll begin the estimate process— (410) 848-7464.