Obtaining affordable commercial truck insurance is much like finding affordable insurance for any type of motor vehicle. A few basic tips and guidelines can lead you in the right direction when you are searching for commercial truck insurance at a reasonable rate.
Safety First – Obtaining affordable commercial truck insurance is very dependent upon safety. Take all the required and optional safety classes and instructions you can that will allow you to enjoy a discount on your insurance. Maintain a safe vehicle and keep it properly maintained and in good working order. Make sure your truck can pass the Department of Transportation (DOT) inspections that are required. Apply safety signage to your truck when applicable.
Good Driving Record – Maintain a good driving record. Follow all the laws and regulations. Limitations and restrictions on commercial drivers and the distances and amount of time they can be on the road are in place to ensure the safety of all on the road, as well as the driver, his truck and his cargo. Avoid tickets and do everything possible to avoid being involved in an accident.
Higher Deductible – When you can afford to do so, take a higher deductible. This will lower your premium on your insurance, but you have to be financially able to pay the larger deductible in the event that you are involved in an accident.
Self Insure – Find out if your state allows any part of your insurance responsibility to be covered by self insurance. You have to meet requirements to prove you can cover the insurance minimums in case there is a need by having a certain amount of net worth, but this allows you to not have that insurance through a company. You would be guaranteeing the amount yourself.
Reputable Companies – Use reputable and knowledgeable companies who are familiar with commercial truck insurance. Sticking with the same company and remaining claim free can net you savings in the future when your policy renews. Laws and insurance requirements will vary state to state and will also vary as to whether or not you are driving interstate or in one state only.
Shop Around – As with any insurance and any good or service, comparison shopping can net you additional savings. Insurance quotes are just a website form away usually and you can shop different local companies to find out if they are willing to offer a discount to obtain your business.
The Long Haul – The longer your record as a commercial truck driver without any violations, tickets or accidents; the better your rates will get.
U.S. Department of Transportation, Regulations
Self Growth.com, 11 Tips on Get The Best Truck Insurance Rates, Matthew Pawlina
Heritage Insurance Service, How To Find Affordable Commercial Truck Insurance Rates