When To Upgrade Your Commercial Auto Insurance

Updating a commercial auto insurance plan is not usually the top concern of a business owner or manager. The bill comes in, it’s paid, and then everyone moves on. But in reality, a policy has to be an ever-changing thing, simply because nothing stays still in life.  
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nWhen Your Vehicle(s) Improves 
nWhether you have one truck or 50 vans, you may need to call your commercial auto insurance carrier if you decide to outfit a vehicle with new navigation software or jump seats. Anytime you make a major investment into your vehicles, you need to ask yourself if you can take the loss in the case of an accident. 
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nIf You’re Nervous About Your Liability 
nLiability is a major concern for business owners today, with some being more likely to be targeted than others. Generally speaking, the larger your business is, the more likely it is that you’ll be sued in the case of an accident. To protect yourself from these charges, you’ll need liability protections in place. If your limits aren’t enough to cover a serious lawsuit, you may want to look into more coverage. 
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nThe Merchandise Has Changed 
nWhether you take on new clients or the value of your inventory has merely gone up, your commercial auto insurance provider has to be made aware that you’re carrying more expensive goods. If they aren’t told ahead of time, they may only pay for what was disclosed to them at the time of sign up. 
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nYour Locations Have Changed 
nIf you’re headed into new areas, insurance carriers will also need to update your policy. Your policy is partially determined by everything from crime stats in any given area to the amount of congestion on the road. Because businesses are constantly trying to expand, this is particularly overlooked by many owners. 
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nPart of having a business is staying on top of countless small things. While it’s not difficult to make a few calls to your commercial auto insurance carrier, it’s just one more item on your to-do list. Despite this, you need to be ready so claims are covered in the event that something happens on the road. 
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