Frequently Asked Questions
A Reporting policy allows your insurance program to more closely follow your cash flow. Typically allowed once a company reaches 10 units or more you have the ability to report monthly in one of the three ways:
Remember this is on a montly basis and allows your Auto program to have an ANY AUTO symbol (most broad coverage). Give us a call today, we would love to teach you more!
In most cases, whether it be Auto Liability, Physical Damage, Cargo, Excess or some other line of coverage there is typically “minimum earned” premium. If a policy is bound, and in force and you decide to cancel midterm, you will be required to pay AT LEAST the minimum of the total premium amount at binding. PLEASE pay attention to this when binding and moving to new carriers.
While having no losses and great safety scores will help achieve low premiums there is still a chance you are paying to much. In most cases where a company is significantly out preforming their peer group you will find that you are bound by underwriter minimums. How do you avoid this? Take some risk on yourself! What we are suggesting is explore an Auot Liability Deductible. You already have one on Physical Damage and Cargo. Chances are, you are throwing a lot of money away in no loss years. Give us a call so we can help you navigate deductibles!
Safety scores are underwritten today with as much weight as losses. It is very important to ensure you have best incase safety if you want good insurance premiums. If you are interested in finding out the ways you can begin decreasing your scores we would love to speak with you.
Many confuse Auto Liability and Physical Damage.
Physical Damage protects damage to your own equipment. That can mean Tractor or Trailer. If you are in question on how your policy is written take a moment to reach out to us and discuss how it will respond in the event of an accident.