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Lorain Tow Truck Insurance – Summary of Previous Article
Last time, we spoke at length about the “New” Business Venture Loophole.
We explained what it is and gave a brief example of how it is performed.
To summarize, when a towing company’s rates have been increased due to claims and/or moving violations, some business owners “close” their towing business and reopen using a different name in order to artificially lower their premium rates back down to their previous levels, effectively swindling the insurance companies into treating them as a brand-new business venture instead of one that has a spotty claims record.
We also explained that this maneuver rarely works these days because technology has made it much easier for insurance providers to spot this tactic when it is attempted.
Why do we consider using the “New” Business Venture Loophole a mistake? Read further to find out.
Tow Truck Insurance Lorain Ohio – Common Tow Truck Insurance Mistakes Part 3
We’ve talked a lot about what the “New” Business Venture Loophole is, but we haven’t addressed why exactly it is a such a big mistake.
Besides being a rather unscrupulous thing to do, why shouldn’t a business owner seeking tow truck insurance attempt the “New” Business Venture Loophole?
If the insurance companies spot this behavior – and they will spot it – the business owner will likely find his or herself blacklisted from purchasing business auto insurance.
Whereas before they would have been paying high rates, now they cannot obtain insurance at all, forcing them out of business.
Want Better Rates for Lorain Oh Tow Truck Insurance?
Do you want better rates for Lorain Oh Tow Truck Insurance? Who doesn’t?
The only way to find out whether you could be saving big money on your Ohio Tow Truck Insurance premiums is by comparing your current coverage to policies being offered by other top business auto insurance providers.
That’s where an independent agency like ours comes in handy.
Give us a call or click below to request free estimates and compare your rates today!