A Business Auto Policy is vital!

Regardless of the type of business you have, you probably use one or more vehicles to get around. Depending on how your organization operates, this can include vehicles that are owned or leased by the business, hired out for limited use or owned by employees but used for business purposes. This last category, the employee-owned…

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2023 Commercial Auto Insurance Market Outlook

The commercial auto insurance market has faced substantial underwriting losses and diminished profitability for more than a decade. While the segment continues to face difficult market conditions, rate increases largely remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digital rate jumps that took place in prior years. Nevertheless, several cost-driving…

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Safety Tips for Extreme Driving Conditions

The weather can be unpredictable and can create extremely hazardous conditions on the road. These extreme conditions make driving dangerous and require special safety precautions. Your safety is important, so whether you drive on company time or personal time, observe these safety tips when driving turns difficult. Rain, Thunderstorms and Tornadoes Turn your headlights, wipers…

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Common Types of Construction Insurance

As contractors, it’s important to understand what types of insurance your business should have and why. You work hard – make sure you’re properly covered for unforeseen circumstances that could harm your business. Check out this list of recommended insurance policies: Workers’ compensation—Workers’ compensation covers work-related employee injuries or illnesses. While injuries are infrequent, they…

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Non-Owned and Hired Auto Coverage: What You Need to Know

Insuring one or more vehicles owned by your business is a fairly straightforward proposition. But the waters can get a little murkier when employees are using their own vehicles for business purposes, raising additional liabilities. Here’s a brief overview to help you understand non-owned and hired automobile liability coverage. First, when might you be accountable…

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Commercial Auto Premiums – can you control them?

Commercial auto insurance rates are based on several factors – some you can control and others that you can’t! Frequency and severity of crashes, auto repair costs, medical and hospital costs, lawsuits and court judgments, insurance fraud, vehicle type, and deductibles are all variables dictating your premiums. This means that while your company’s inherent level…

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Commercial Auto Insurance Trends for 2021

If your company has vehicles on the road, you’ve probably experienced premium increases even if you’ve maintained a good safety record. In some cases those rate increases have reached double-digit percentages, a frustrating state of affairs for any organization. The central issue is that the commercial auto segment has been unprofitable for insurers for much…

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Auto Theft: Business is Booming

The pandemic has had wide-ranging effects on the economy, with some industries like restaurants and hospitality struggling greatly while others have actually seen improvements. Unfortunately, one sector that had a very big year was auto theft. Vehicle theft has been trending downward in recent years, but the National Insurance Crime Bureau (NICB) reports a surge…

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