Should I purchase personal and commercial auto insurance through the same provider?

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Your personal auto insurance provider might be able to offer you a cut rate on commercial auto insurance, based on your personal driving record. In addition, many companies reward holders of more than one policy with lower premiums on both policies. For this reason, it is advisable to consult with your current insurance company, prior to seeking commercial vehicle insurance elsewhere.

Comparing Insurance Coverage

You can compare insurance rates and coverage online, or by contacting the Insurance Department in your state. A commercial insurance policy typically includes more liability coverage than a personal policy, and often covers more than one driver.

Ways to Lower Your Commercial Vehicle Insurance Premium

You can lower commercial premiums by doing the following:
 
  • Basing your business in a relatively low-crime area.
  • Hiring drivers with stable driving records.
  • Choosing five-star safety rated vehicles, such as a midsize sedan.
  • Assuming part of the deductible.
  • Installing security and anti-theft devices in the vehicles.

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