Texas is the second largest state in the United States, and as such Texans like to do things big. That’s the approach your business should take when it comes to filing insurance claims, only file when the claim is a big deal. Only file when you can’t cover the cost of the loss on your own. Although commercial insuranceagents in Texas are there to help you protect your vehicles, there are times when it is in your best interest to handle the damage and not involve the insurance company, and generally this is done when the loss is insignificant.
Is it Worth Paying the Deductible?
The deductible is your portion of the insurance you are responsible for when you file a claim. If you incur a minor accident (cosmetic damage to one of the vehicles in your fleet) towards the end of the year, then it may be in your best interest to handle the claim on your own. If you consider the fact that you will still be responsible for the deductible next year and the damage is minor, filing a claim on your insurance would serve no purpose but to increase your insurance.
Does Your Company Have a History of Filing Claims?
Although insurance companies don’t automatically increase your rates when you are in an accident, if your employees have a history of getting into accidents then you may want to seriously consider each claim you file. Your driving history significantly impacts how much you pay for your business car insurance each month, so if you have a claim that you can easily remedy and your claims history is questionable, consider taking care of the situation through your business.
Is Your Policy Forgiving?
There are some policies that will forgive an accident periodically. If you have this type of policy filing a claim is okay if you have a staff of safe drivers because it won’t result in your insurance increasing due to the type of policy you have. It is in your best interest to think strategically about filing the claim if you feel as if you may incur another loss due to careless employees on your staff.
You can talk to your commercial insuranceagent in Texas to determine what approach is best for you before filing a claim. They will assist you by providing you with information that will ultimately affect the price you pay each month. Since you have to call them when you experience a loss anyway, make sure you leverage the knowledge they have so that your business isn’t needlessly incurring costs.