How to Reduce the Cost of Insuring Your Commercial Vehicle in Florida

After completing the tedious task of comparison-shopping for insurance, many drivers in Florida accept the cost at face value. While some companies may include discounts in their quotes, not all maintain this practice. For this reason, the initial quote for your commercial insurance should be considered a base to which discounts are applied. In addition, there are extra steps you can take to reduce the cost of insuring your commercial vehicle in Florida.

Know Your Drivers

Your commercial car insurance premium is largely determined based on the records of every driver combined. Obtain all driving records for employees of your company. Hire safe drivers to reduce risk. If your vehicle is personal, be sure to practice safe driving habits. This could result in additional discounts.

Comparison Shop

Obtaining quotes from a number of companies to compare side by side is the best way to shop around for insurance. While this may be an arduous task, it often proves beneficial in the end. It is recommended to obtain at least three different quotes. Check online, make a phone call or see an agent in person. Keep in mind the coverage you need and the price you can afford. Cheaper isn’t always better.


Discounts are an easy way to combat high insurance costs. Every company is different, but many offer some common discounts:

  • Business owner’s discount
  • Paid in full discount
  • Multi-policy discount
  • Prior insurance discount
  • Discount for having your commercial driver’s license

Choose Your Payment Option

As stated above, many insurance providers offer a discount when paying your plan in full versus monthly. You could qualify for a discount up to 15%. When selecting the EFT (Electronic Funds Transfer) option, insurers sometimes offer savings on administrative fees. Often referred to as the paperless discount, payment is taken out of your bank account monthly at a predetermined date.

Pay a Higher Deductible

A deductible is the price paid towards a commercial car insurance claim. In event of a collision, you are responsible for making this payment before compensation is made. Many times, the choice to pay a higher deductible results in saving on the insurance premium. While this doesn’t come without risk, it could be beneficial in the long run for the company.


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