Just as they offer a variety of discounts on personal auto insurance policies, insurance companies frequently make a number of discounts available to businesses that have commercial auto insurance policies. While the exact discounts that insurers offer vary, there are many that businesses in Massachusetts might be able to take advantage of. Here are some of the more common ones.
What Discounts on Commercial Auto Insurance Do Massachusetts Insurance Companies Offer?
Multi-Policy Discounts
Most insurers offer multi-policy discounts for purchasing more than one commercial policy from them. How much a Massachusetts business might save with a multi-policy discount depends on how many policies the business has, how much the policies’ premiums are, and other factors. It's not uncommon for these discounts to save businesses a decent amount, though.
Business owners policies (BOPs) frequently award businesses with particularly large discounts for combining several policies together. Not all insurers offer BOPs that include commercial auto insurance, but some do. Businesses that need auto insurance might be able to significantly lower their auto premiums by specifically seeking out a BOP that does have a commercial auto component.
(Personal and commercial policies usually can’t be combined 
Paid-in-Full Discounts
When purchasing business auto insurance, businesses frequently have a few payment options to choose from. Forgoing any available payment plans, and
Businesses that have cash flow challenges might not be able to take advantage of a paid-in-full discount, as paying a policy’s entire premium up front may
Discounts for Experience Running a Business
Some insurers offer discounts to businesses that have been operating for several years. They view these businesses as lower risks and, therefore, are willing to offer them lower rates.
New businesses, of course, aren’t able to take advantage of this. After businesses have been open for a few years, though, they may want to request quotes from several different insurance companies and see if any will provide a discount for being open a while.
Loyalty Discounts
Many insurers offer loyalty discounts on business auto insurance policies, just as they often do for personal auto policies. These discounts can help businesses that stay with the same insurer year after year save a little money, but the discounts are sometimes less than what businesses would save by switching insurance companies. Before remaining with an insurer because of this discount, businesses should first compare quotes from other insurance companies to see who offers the lowest rates.
Commercial Driver’s License Discounts
In some situations, businesses can reduce their business auto insurance rates by simply making sure their employees have commercial driver’s licenses (CDLs). This discount is sometimes reserved for businesses that have vehicles which require a CDL to operate them, so not every business is able to get this discount even if their insurer offers it. Those that qualify for a CDL discount, however, can frequently save a lot on their auto premiums.
Work with a Massachusetts Agent to Get Discounts on Commercial Auto Insurance
To make sure your Massachusetts business gets all of the commercial auto insurance discounts it qualifies for, contact an independent insurance agent. An independent agent who helps businesses with their commercial insurance needs will be able to check what discounts your current insurer offers, and they can see if other insurers offer additional discounts that your business might be able to take advantage of.
