Underwriters evaluate a number of factors when developing a quotation for your company. There are a few key factors that weigh heavily on your premium:
- Historical loss experience – What is your company’s loss ratio?
- Driver MVRs – Are the driving records clean? What are your driver training policies and procedures? Do current drivers meet your established criteria?
- Fleet makeup – Are you operating wheelchair, stretcher, or ambulatory vehicles? How many passengers does each vehicle seat?
- Location – Where do you operate and how far do you travel? Certain legal venues around the country are more liberal which leads to higher insurance premiums.
Other factors contributing to your premium development include:
- Operating policies and procedures – Are they written, up-to-date and active?
- Experience level of the owners and managers
- Hiring/training practices and procedures (wheelchair securement, defensive driving, etc.)
- Vehicle maintenance program
- Are you a drug-free certified employer?
- Do you have a sexual abuse and molestation program in place?
Once we have a complete understanding of your company and how it operates, we can better present your application to underwriters to negotiate the best insurance program and rates the marketplace has to offer.