As a car hauler, you need to have the right insurance coverage to protect your business from potential risks. One of the most important types of insurance you need to consider is 3 car hauler insurance. It is specifically designed for businesses that transport three or more vehicles at a time. In this article, we will discuss the cost of 3 car hauler insurance and what you need to know before buying it.
Factors that Affect 3 Car Hauler Insurance Cost
The cost of 3 car hauler insurance can vary depending on several factors, such as:
- The type of coverage you need
- The number of vehicles you haul
- Your driving history
- The value of the vehicles you transport
- The location of your business
- The insurance company you choose
To get an accurate estimate of the cost of 3 car hauler insurance, you need to consider these factors carefully.
Types of 3 Car Hauler Insurance Coverage
When it comes to 3 car hauler insurance, there are different types of coverage you can choose from. These include:
- Liability insurance
- Physical damage insurance
- Cargo insurance
- General liability insurance
The type of coverage you choose will affect the cost of your insurance. For example, liability insurance is generally cheaper than physical damage insurance because it only covers damage to other people’s property.
Cost of Liability Insurance for 3 Car Haulers
Liability insurance is the most basic type of coverage you need as a 3 car hauler. It covers the costs of damage or injury you cause to other people or their property. The cost of liability insurance for 3 car haulers can vary depending on the level of coverage you choose and other factors such as your driving history and the value of the vehicles you transport.
On average, liability insurance for 3 car haulers can cost anywhere from $1,000 to $5,000 per year. However, this can vary depending on the insurance company you choose and the level of coverage you need.
Cost of Physical Damage Insurance for 3 Car Haulers
If you want to protect your own vehicles from damage, you need to consider physical damage insurance. This type of coverage covers the costs of damage to your own vehicles in case of an accident or other covered event.
The cost of physical damage insurance for 3 car haulers can vary depending on the value of your vehicles and the level of coverage you choose. On average, it can cost anywhere from $2,000 to $10,000 per year.
Cost of Cargo Insurance for 3 Car Haulers
Cargo insurance is another important type of coverage you need as a 3 car hauler. It covers the costs of damage or loss to the vehicles you transport. The cost of cargo insurance for 3 car haulers can vary depending on the value of the vehicles you transport and the level of coverage you choose.
On average, cargo insurance for 3 car haulers can cost anywhere from $1,000 to $5,000 per year. However, this can vary depending on the insurance company you choose and the level of coverage you need.
Cost of General Liability Insurance for 3 Car Haulers
General liability insurance covers the costs of damage or injury you cause to other people or their property while you are not hauling vehicles. It is important to have this type of coverage as it protects your business from potential lawsuits.
The cost of general liability insurance for 3 car haulers can vary depending on the level of coverage you choose and other factors such as your driving history and the location of your business. On average, it can cost anywhere from $500 to $2,000 per year.
How to Get Affordable 3 Car Hauler Insurance
Getting affordable 3 car hauler insurance is possible if you take the following steps:
- Shop around for quotes from different insurance companies
- Choose a higher deductible to lower your premium
- Take a defensive driving course to show your insurance company you are a safe driver
- Install safety features on your vehicles, such as GPS tracking and anti-theft devices
- Bundle your insurance policies with the same company to get a discount
By following these steps, you can get affordable 3 car hauler insurance without sacrificing coverage.
Conclusion
As a 3 car hauler, it is important to have the right insurance coverage to protect your business from potential risks. The cost of 3 car hauler insurance can vary depending on several factors, such as the type of coverage you need, the number of vehicles you haul, your driving history, and the insurance company you choose. To get affordable 3 car hauler insurance, you need to shop around for quotes, choose a higher deductible, take a defensive driving course, install safety features on your vehicles, and bundle your insurance policies with the same company.
