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Personal Autos on Your Commercial Policy:
Insurance is our business, commercial insurance that is. Having personal autos on your commercial policy may be costing you more than you think. Sure it seems convenient to place family members and their vehicles on your commercial policy, but this adds additional exposure and increased risk to your company.
Because most commercial policies are experience rated (based on loss history), controlling losses is the best way to keep premiums down. Two ways to control losses are risk control and risk avoidance. Risk controls are measures such as training, checking MVRs, and driver screening. These controls will help reduce, but never eliminate, the exposure. Risk avoidance is to eliminate the exposure, thereby eliminating the risk. This is hard to do in most cases but not this one. You can eliminate personal autos from your commercial policy and place them where they belong – on a personal policy.
A few reasons why personal autos increase
the risk to your business:
The benefits of a personal policy for
•Driver education discounts (very important
for youthful drivers)
Don’t forget the umbrella
For information about how Universal Underwriters Group’s Special Account Services Division can help meet the special needs of your automotive recycling business, call 1-800-840-8842, ext. 4845, visit our website at www.UniversalUnderwriters.com or e-mail to firstname.lastname@example.org.
This article is provided for informational purposes only. Please consult with qualified legal counsel to address your particular circumstances and needs. Universal Underwriters Group is not providing legal advice and assumes no liability concerning the information set forth above.