In order to provide a commercial auto quote, your insurance agent will ask the following (and maybe more) in order to fully understand your operation and to get the best price and value possible for your commercial auto insurance policy. This is the list-only version, but if you would like descriptions and more information about many of the terms, CLICK HERE for the list with commentary.
- Previous Signed Commercial Auto Applications
- Certificates of Insurance (COI), and Declaration Pages (DEC)
- Vehicle Information – includes the following:
Radius of operations (usually broken into ranges that include 50, 100,200,500, and unlimited)
Current odometer mileage
Miles per year
Year purchased / purchased new or not
Comprehensive insurance coverage and if so, the deductible
Collision insurance coverage and if so the deductible
- Federal and or State insurance Filings
- Schedule of Drivers:
Full first and last name
Driver's license number
Driver's license state of issue
What age first licensed
Has commercial driver's license (CDL)? If so, when issued
Date of Birth
Date originally licensed
Accidents, claims, and violations
Which vehicle driver is mostly likely to drive / assigned to
Miles per year
- Any major cities traveling to/from (this includes LA, Chicago, NY, Miami, etc…)
- Amount of liability coverage including bodily injury and property
- Location of vehicles
- Cargo Coverage
- Do you haul your own cargo exclusively?
- Do you operate in more than one state?
- Do you operate over a regular route?
- Do you haul any hazardous or extra hazardous substances or materials as defined by EPA?
- Do you have workmans' comp coverage for employees that are driving?
- A Loss Run Report if you already have coverage
There's actually more depending on your type of operation, and again, if you're wondering what some of the terms mean, I discuss many of the insurance terms HERE
Robert Weinstein is a husband, dad, stock market junkie, real estate broker, and of course…Insurance agent. Interests include my family, economics, marketing, technology, real estate, finance/investing, history, and Asia.
Robert’s insurance expertise includes having the designation of Certified in Long-Term Care (CLTC) and assist in asset protection for families with members entering retirement.
Robert is also an accomplished syndicated writer whose work can be found in TheStreet, MainStreet, CNBC, Forbes, Yahoo Finance, Seeking Alpha, MSN Money, The Money Show, Stock Saints, Motley Fool, Fidelity, Minyanville, RealMoney Pro, and many national and international newspapers.