The Importance of Commercial Auto Insurance

In the fast-paced business world, commercial auto insurance is a vital safeguard against unexpected financial pitfalls. Whether you’re a seasoned entrepreneur or a budding startup, understanding the dynamics of commercial auto insurance is crucial.

Key Insights about Commercial Auto

At RMC Group, we recognize the importance of demystifying this topic for our clients.  Here are some key insights that can help you understand the cost and importance of commercial auto coverage:

  1. One Accident Can Be Costly: It’s a sobering fact that a single accident, especially one involving an uninsured motorist, can result in significant financial loss. Repairing damage can run into hundreds or even thousands of dollars. That’s why having the right insurance coverage is imperative.
  2. Perfect Driving Records Aren’t Always Necessary: While some insurance companies cater exclusively to individuals with impeccable driving records, others offer high-risk or “non-standard” auto insurance. At RMC Group, we work with affordable carriers that can provide competitive insurance rates, even if you don’t fit the traditional mold.
  3. 2022 Claim Trends: In 2022, claims parameters saw an upward trend as people returned to the roads post-pandemic. Bodily injury and property damage severity increased by 35%, while collision severity rose by approximately 40%. These figures are closely linked to the overall increase in total claims, indicating the importance of robust insurance coverage.
  4. Satisfaction and Alternatives: When policyholders are not completely satisfied with their claims experience, they may start exploring alternatives to their current insurance coverage. This includes personal lines of coverage as well as commercial auto insurance. At RMC Group, we understand the need to offer comprehensive and satisfactory coverage and claims service.
  5. Commercial Insurance Challenges: The commercial insurance landscape is evolving rapidly. Premiums are skyrocketing, and capacity is diminishing due to billion-dollar catastrophes. This makes it more challenging than ever to secure adequate and cost-effective commercial insurance. It’s time to rethink your insurance strategy and we are here to help!

RMC Group’s Expertise

RMC Group brings a unique set of skills to the table. Our negotiation prowess, enterprise risk management capabilities, and innovative problem-solving solutions make us your ideal partner in navigating the complex world of insurance. This is especially crucial for companies with significant commercial real estate holdings, where the stakes are high.

Commercial auto insurance is not just a necessity; it’s a strategic asset for businesses of all sizes. The cost of inadequate coverage far outweighs the premiums paid.

RMC Group is here to help you make informed decisions, secure competitive rates, and provide the protection your business deserves in an ever-changing insurance landscape. Don’t be caught off guard—trust RMC Group to safeguard your financial future.

We work with clients in over 30 different states, so contact our Licensed Insurance Team today for a quote at 239-298-8210 or [email protected].