4 myths about truck insurance that cost money
4 myths about truck insurance that cost money. Around the world of trucking, like in other businesses, various myths are woven about how insurance works. These ideas, along with the variety of existing policies, make it difficult to make the right choice when selecting the proper coverage for your truck or company. However, acquiring just any insurance can cost you a lot of money because when you experience an incident – which is common in your line of work – you may discover that you don’t have a certain coverage or more.
- Myth number 1: It is cheaper for businesses that work seasonally to cancel the insurance contract when trucks are not in operation.
The reality is that if you cancel it and your trucks have any issues while parked, such as vandalism, theft, or fire, you will have to bear the expenses. Additionally, when you purchase new insurance, it will be more expensive since most insurers require proof of continuous coverage to provide a better rate and discounts.
- Myth number 2: The entire insurance premium must be paid in advance.
This is not always the case. Many insurance companies offer plans that allow for paying the premium in installments. The advantage of paying in advance is that you may obtain a discount.
- Myth number 3: All company employees are covered under the company’s insurance policy.
Many owners believe that commercial insurance automatically protects all employees. However, this may not be the case, as some insurers only extend coverage to the drivers listed in the policy. If you want all your employees to be covered, you need to take out insurance that explicitly covers them with the appropriate credentials, such as the CDL.
- Myth number 4: It is cheaper to have all your business insurances with the same insurer.
This is not entirely true. It is best to compare and see the existing offers in the market.
What is an absolute truth, though, is that if you want cheap commercial insurance in Florida, you should contact Univista Insurance. 4 myths about truck insurance that cost money.
Call us today for a complete qualification! 305-728-2088. You can also get a free quote here.