How Insurance Can Help Your Business Save on Car Repair Costs
In the aftermath of a car crash, one of the first questions you might be asked is how you intend to pay for the damages. Where commercial vehicles are involved, how you answer that question can decide the future of your company.
At Archway Insurance, we help connect business owners across Atlantic Canada with the best insurance to cover the cost of car repairs. In this article, we will help you understand how and why we do this and provide you with ways to get your commercial car repairs covered now.
The Cost of Car Repairs
When it comes to commercial auto insurance, it does not matter whether you drive a rough-and-ready pickup truck, a luxury SUV, or your dad’s old station wagon—you always need insurance. Not only is it the law, it’s also forward-thinking.
Driving, after all, is safer now than it has ever been. A recent report from Transport Canada reveals that the number of serious injuries from car accidents decreased to 8,917 in 2019; that’s down roughly 5.8% from the previous year. Fatalities from car accidents are in decline, too, with 1,762 being recorded in 2019, a decline of 9.1% from 2018.
However, while driving may be safer, car repairs remain expensive. Regular maintenance that keeps your vehicle in good working condition—including oil changes, tire rotations, transmission fluid services, and more—can cost up to $1,500 per year. With Canadian gasoline prices reaching all-time highs in 2021, the cost of keeping your car on the road soars even higher.
However, the most expensive repairs your car will need come from collision damage. Small fender repairs can be expected to cost anywhere between $500 and $1500. As the scale of the damage increases, so too does the price tag. Medium repairs, including cover lights, grill, and bumper fixes, range in cost from $1,500 to $4,000. Serious fender-benders can cost you upwards of $6,000 for repairs, with rates sometimes hitting $10,000.
With staggering numbers like these, it should come as no surprise that four in ten Canadians surveyed by Ipsos confessed that saving for emergencies (like collision auto repairs) causes stress. Finding the right auto insurance plan will help you breathe easier.
That’s where we come in.
What does auto insurance cover?
If you have ever found yourself in a car accident, you know from visceral, first-hand experience that your immediate and most important priority is the safety and well-being of you and your passengers—and the riders in the other vehicle(s), depending on the situation.
At Archway Insurance, we intend to keep it that way. Our goal is to find you robust and extensive coverage that will help take your mind off the costs and focused on what matters most with a suite of features, including:
- Third-Party Liability coverage, for bodily or property damage claims brought forth by an innocent third party who holds you responsible for injuries or damages caused by your negligence.
- Direct Compensation Property Damage (or DCPD) coverage, which is mandatory in Nova Scotia and New Brunswick, and is therefore included alongside third-party liability and accident benefits coverage in all basic car insurance policies. This feature allows you to work with your own insurance company to arrange vehicle repairs, regardless of who caused the accident. By cutting out the middlemen and dealing directly with your own insurer, you can get your vehicle fixed and back on the road faster.
- Collision coverage, which covers the cost of repairing your vehicle for everything ranging from a collision with another vehicle to sliding off the road.
- Comprehensive coverage, which covers damages to your vehicle not originating from a collision, including vandalism, fires, and more.
- Accident benefits, including medical and rehabilitative costs, funeral expenses, and more, for you and the passengers in your vehicle.
Whether you are in the market for personal or business auto insurance, Archway has the connections to ensure you’re fully covered.
How Archway Helps You Save Money on Car Repairs
Let’s face it: paying to repair damages caused by one of your business’ vehicles can be disastrous for your bottom line. Sudden and out-of-pocket expenses are not only costly, but they can be the difference between solvency and bankruptcy, especially if your company is still growing.
At Archway Insurance, we can help connect you and your company with insurance that will help you avoid these worst-case scenarios with coverages for liabilities and uninsured motorists.
With liability coverage, your commercial auto insurance policy will cover legal fees and settlement awards for injuries and property damage you must provide as compensation.
Still, what if your commercial vehicle is involved in an accident caused by an uninsured driver? In times like these, you will be happy that you signed up for uninsured motorist coverage.
As a business owner, you understand how important it is that you and your drivers are legally licensed to operate your vehicles. That makes a stressful situation all the more frustrating when you find out that the person driving the vehicle that collided into your truck is uninsured. Not only are they breaking the law, but they are also making it difficult to determine who is even going to pay for damages.
The good news is that a situation like this can be avoided. While collisions caused by uninsured drivers can still affect your business, you can feel assured that Archway Insurance has your best interest in mind.
Call Archway Insurance Now
When you are insured, you no longer have to worry about whether your car repairs are covered. There is a policy for every problem and a fix for every fender bender. The money you save from not having to pay for a trip to the garage is money you can use to expand your fleet, reinvest in your company, or give yourself—and your staff—a pay raise.