The End Of COVID-19 Relief Programs: Impact On Commercial Auto Insurance

It has been over 2 years since the start of the COVID-19 pandemic. Finances across all different industries were affected by the outbreak and many businesses were offered relief programs to alleviate the pain. One such relief program was for commercial auto insurance. However, as life returns to normality, these relief programs are coming to an end. This means many businesses will be in the market for commercial auto insurance. In this blog, we will provide insight into the world of commercial auto insurance to help you find your next plan. 

Saying Goodbye To Relief Programs

The pandemic had a significant effect on the nation’s economy. Fewer people were commuting to work and roads were far less busy than usual. Companies had commercial vehicles that weren’t in use for months. Therefore, many states and insurance companies offered relief programs by suspending insurance on vehicles that were out of use. 

With fewer drivers on the road, there were fewer accidents. This led to a decrease in insurance premiums. However, as the pandemic settles down and people return to work, these relief programs are coming to an end and insurance premiums will likely rise once again. Businesses all across the country are going to need commercial auto insurance, so ensuring your company’s vehicles are protected is of the utmost importance. 

Shopping For Auto Insurance Post Pandemic

With the help of the internet, it has never been easier to research and compare commercial auto insurance quotes. However, there are so many different types of coverages that it can become a headache finding the right fit for your business. 

When seeking a quote, it’s important to provide a realistic view of your driving habits, including the number of miles you drive. This will help you get an accurate estimate of your commercial auto insurance rates. Take into account that your miles may go up as the pandemic comes to an end. For those who had vehicles suspended through a COVID-19 relief program, factor in the cost of storage and public transportation to ensure coverage fits your budget.

Highlighting TIB’s Services

Suspensions on commercial auto insurance are being eliminated, therefore, many business owners will be in the market for coverage. Working with us at TIB Insurance can prove to be advantageous because we are specifically dedicated to the passenger transportation industry. Whether your company operates buses, limos, taxis, or anything in between, we can help you find the best coverage for your business needs. The following is a quick highlight of the insurance solutions we provide:

  • Commercial Auto Insurance
  • Commercial Property Insurance
  • Workers’ Compensation Insurance
  • Commercial Umbrella Insurance
  • Cyber Insurance
  • Employment Practices Liability Insurance
  • Professional Liability (Errors & Omissions) Insurance
  • Employee Benefits

No matter what your business is looking for, our team at TIB Insurance is here to help. We want you to have the confidence that your business is protected by a company that understands your needs. It’s essential to hope for the best but prepare for the worst. In the case of an accident occurring you want the knowledge and expertise of TIB Insurance behind you. 

Let’s Talk Insurance! 

Whether your insurance relief program is coming to an end, or you simply want to explore your options, TIB Insurance is here for you. As the nation’s largest insurance broker specializing in passenger transportation, we are the perfect fit for companies with commercial vehicles. Please contact us today to see how we can help protect your company, employees, and vehicles.