Critical Things to Know About Insuring Construction Vehicles and Equipment

Contractor Success Forum

Why is it that insurance for equipment and vehicles is so expensive? Is there anything you can do to lower those costs? How about things like vehicle ratings, how does that play in your premium? Stephen is answering those questions and more on this week's episode.
Topics we cover in this episode include:

• Should your vehicle be on your personal policy?
• Costs for a commercial policy vs. a personal policy
• What goes into rating a vheicle and how can you get lower premiums?
• Having good drivers can lower your insurance rates
• How insurance companies use telematics
• Equipment insurance
• Is it cheaper to insure rented or owned equipment?
• Vehicles, equipment and loss control

LINKS
Visit the episode page at https://carpentercpas.com/vehicleinsurance for more details and a transcript of the show.

Find all episodes and related links at ContractorSuccessForum.com.
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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com

Chapters

1. 138 - Critical Things to Know About Insuring Construction Vehicles and Equipment (00:00:00)

2. Should your vehicle be on your personal policy? (00:01:19)

3. Costs for a commercial policy vs. a personal policy (00:04:22)

4. What goes into rating a vheicle and how can you get lower premiums? (00:07:13)

5. Having good drivers can lower your insurance rates (00:09:16)

6. How insurance companies use telematics (00:12:08)

7. Equipment insurance (00:13:22)

8. Is it cheaper to insure rented or owned equipment? (00:14:30)

9. Vehicles, equipment and loss control (00:17:12)