Insurance Colorado Springs for commercial auto is required by law. There are minimum liability limits that must be carried to protect the other driver if you are at fault in an accident. But with the cost of everything going up minimum limits may not be adequate to protect you and your business in case of an accident. Depending on the type of business you are running your commercial auto insurance could be a big part of your operating budget. It would be a shame to be paying a lot in premium just to find out you are also going to have out of pocket expenses as well.
In addition to your liability coverage you will likely want Insurance Colorado Springs for physical damage as well. This is the insurance coverage that will cover your vehicles if your driver is at fault in an accident. Depending on what you are comfortable with is what should determine your deductibles. You insurance company will probably prefer a higher deductible. It will save you on your premium and save the insurance company from “nuisance” claims.
When determining your insurance Colorado Springs premium for commercial auto your insurance company will figure a loss ratio. This is the ratio between the amount of premium paid and the amount of money paid out on claims. If you have a good loss ratio you could earn discounts on your insurance.