Wheat Ridge, Colorado is a great place to hike and explore nature. From the mountains to the lakes, there is so much to see, which is why a lot of residents like to call Wheat Ridge home. Wheat Ridge’s appeal doesn’t stop at residents, but many businesses call Wheat Ridge home as well.

Increasing costs of operations have many businesses looking for ways to cut costs, especially when it comes to insurance costs. In fact, many managers may be contemplating purchasing user-based insurance products in order to reduce the amount of money that’s paid out each month.

What is user-based insurance?

Promoted as a safety and cost-efficient tool, user-based insurance allows consumers and businesses, especially businesses with fleets, to receive discounts on their auto insurance based on their driving, which is measured using telematics. With user-based insurance, insurance agencies and businesses can monitor driver’s behaviors and how much they actually drive, in real-time.

Is user-based insurance right for you?

The best way to determine whether user-based insurance is right for your business is to speak with an insurance agent. Insurance agents are aware of the risks their agencies take into consideration when rating insurance. Based on this information, your local insurance agent will be able to determine whether your business can save money by measuring driver’s behaviors.

In truth, user-based insurance is a win-win for all involved. Companies that hire safe drivers are rewarded for reducing risks, insurance companies do not have to pay out large claims, and drivers are safe on the road. For companies with bad drivers, their insurance companies can keep them informed about driver’s behaviors so that they can correct the problems that persist. If you are in the market for commercial insurance, contact our local office to inquire about usage-based technologies that can save your business money and reduce the number of accidents your business has each year.