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How To Save Money On Your Tow Truck Insurance

Saving money on commercial auto insurance should be a priority, yet it is important not to decrease the amount of coverage you already have. If one of your trucks is involved in an accident and your business does not have the right coverage it can cost you financially. Not only will you have to pay to get the truck repaired you are going to lose out on business while it is in the shop. There are much better ways to save on insurance rather than cutting your coverage. Let's take a quick look at a few options.

Raising the deductible might be a very good option for your business. It is going to help save you money in the here and now. If your truck is stolen or damaged in the future, you will just have to pay a little more out of your pocket.

Having the best drivers possible is as good of way as any as lowering your costs. Make sure that a motor vehicle report is run on every new hire. You can ask your insurance company to help you with this process, just be sure to notify your drivers in a timely manner. Keep in mind that businesses that require larger vehicles and drivers with a CDK often qualify for special discounts, so be sure to ask.

It is also important to choose your payment plan carefully. Many insurance agencies charge a much higher finance charge with some of their payment plans, while others offer no flexibility. Your goal is to find an insurer who offers low initial payments with no finance charges and has the ability to be flexible.

Without a doubt you never want to jump on the first insurance policy you see, take the time and shop around. You can save a substantial amount of money by ensuring that you choose the best plan for your business. Take the time to research and understand coverage, available services, and carriers to help you make the most informed decision possible.

There are services that are designed specifically for tow companies such as garage keepers legal liability and on-hook legal liability. On-hook legal liability simply covers towed property. Just recently a large insurer expanded this coverage to take into account more than just the vehicle in tow. Personal items, raw material, and equipment are now covered. In addition, any transaxle or transmission damage is now included in coverage as well. The limits for this insurance coverage have increased to $100,000.

Whereas garage keepers legal liability covers any vehicle that is being stored, repaired, or serviced at up to three business locations. The same amount of $100,000 coverage is in effect.

Be sure to always ask if you are eligible for any discounts. There are many insurance carriers who offer discounts for payments in full or those who have been in business for several years. By taking the time to review your insurance at regular intervals can help save money and allow your business to prosper. Take the time to contact an agent today and ask them what options are available for your business. Click here to read more about tow truck insurance costs.

Top Tips To Scoring Better Car Finance With Bad Credit

Having low credit score is not the end of securing good financing terms. It will be more difficult than usual to look for a borrower who accepts this kind of borrower. Terms may not always be as great as what are available for those with good credit but a fair deal is still possible. Bad credit does not mean bad loan terms.

To get better car finance with bad credit, use these tips:

Tip #1: Be with someone when securing car finance.

Experts suggest bringing along someone when applying for a loan. An extra set of eyes and ears can help see any term, which may not in the best interest of the borrower. There is a tendency for borrowers with bad credit to grab the first offer for car finance. The other person can be more critical in poring over the terms of the loan.

Tip #2: Choose based on loan terms rather than on monthly payments

Some people immediately look at how much the monthly payments will be. This may be a good thing in order to make monthly payments easier, thus, reducing the risk for late or missed payments. These can further credit scores. However, in the end, shorter loan periods typically come with lower annual rates. If longer loan term is needed just to make the monthly payments, then it is highly probable that the vehicle is out of the borrowers price range. The best action? Look for a less inexpensive vehicle.

Tip #3: Check the add-ons

Subprime borrowers have higher possibilities of getting loan contracts with unnecessary add-ons. Do not agree to these, which include extended warranties, insurance and after-market services.

Tip #4: Be cautious against yo-yo

The yo-yo is a classic move of some unscrupulous car dealers. This is when the buyer is informed of an increase in the monthly payments or down payment a few days or weeks after the sale. This can happen if the contract is conditional or contingent. Buyers who sign this type of contract generally pay higher rates, with an average of 5% higher than what should have been paid under different circumstances.

Tip #5: Scrutinize the contract

A lot of buyers/borrowers are just too happy and eager with their car finance and car purchase that they just sign their names without looking at each and every item on the contract. Read everything. This will take us to the next tips.

Tip #6: Negotiate

Do not be scared of negotiating. A bad credit is not ineligibility for negotiations. Borrowers with bad credit can still negotiate and get a better deal. Granted that a poor credit score does place a borrower at some disadvantage. It will be harder to negotiate the terms of the auto loan. However, enough research and planning can help in this case. Before buying the car and applying for car finance, check the prevailing purchase price and interest rates. Check that the price is within the budget.

Next, check the monthly payments and see if it it is within the set budget. Negotiating the auto loan terms can be quite a feat. An alternative is to try and negotiate the purchase price. A small amount saved now will have a huge impact later when about to close a car finance with bad credit.