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Step 1
Look at the insurance company State’s license. Buy your commercial auto policy from an insurance company that is licensed in your home state. This way you know that your State Insurance department supervises the company.
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Step 2
Review for consumer complaints against the insurance company before you get commercial auto insurance. Make sure the company you choose doesn’t have very serious complaints or violations filed against it. This can be done at the Better Business Bureau or at the State Insurance department (some departments provide complaint statistics).
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Step 3
Make sure the insurance company has good financial. Generally, the large and well known companies are in good conditions. However, you should check the large and the small companies alike for viability. This can be done by using a rating agency, such as, Moody’s or Standard and Poor’s. These agencies assign ratings according to the insurance company’s financial condition.
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Step 4
Compare prices offered by various insurance companies. Not all companies charge the same for the same policy. Get more than one quote before purchasing commercial auto insurance. Do online quote research or call the company up.
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Step 5
Ask for discounts from your insurance broker. Discounts are usually offer in the following cases: if you get all your vehicles covered by the same company, no recent accidents for you and your employees, defensive driving classes for you and employees, air bags and anti-lock breaks. Each company provides different kind of price reductions; ask for the above discounts and any other available.
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Step 6
Buy your commercial auto insurance from a company that you feel can meet your needs. Look at the company, at its customer service quality and at the policy details before you buy.
