When looking for truck insurance, it’s best to reach out to multiple insurance agencies so that you have various options to explore. This way, you can determine the best option for you and save a considerable amount of money on your insurance in the meantime.
When talking to a trucking insurance agent, there are several questions you should ask them to determine if they’re the best fit for you or not.
8 Questions to Ask Your Trucking Agent
How long have you been insuring transportation companies?
The most important factor to consider is your agent’s experience in the truck insurance sector. An experienced trucking agent understands the risks transportation businesses face daily and know ways to combat those risks. They can also guide you in the right direction in regards to coverage options.
Do you have a 24 hours claims service?
As a truck driver, an insurance company with a 24-hour claims service is a must. You never know when an accident may occur and truck drivers are more susceptible to such mishaps.
Fortunately, most carriers give you the option to file a claim at any time of the day using their online portal. However, before you select a carrier, verify with your agent whether or not they offer this service.
What are the payment options?
Many insurance agencies give you the option to pay your premium annually or monthly. Someone who’s just starting out in the trucking industry may opt for the monthly payment option to avoid a costly initial bill. However, paying in full does save you money in the long run if you have the necessary funds available.
How often can my policy be changed?
Oftentimes truck drivers haul a variety of goods; therefore, they need to be able to alter their coverage in a moment’s notice. Talk with the trucking agent to understand their ability to quickly address your everchanging needs as a truck driver.
How much coverage do I need?
Every transportation business is unique; therefore, each requires a customized insurance plan. With a knowledgeable trucking agent by your side, you’ll be guided in the right direction in regards to what coverages you need and how much.
The following are common coverages that business owners purchase for their trucks:
- Auto liability
- Cargo (for more information on the cost of cargo insurance, visit our blog)
- Physical damage
- Non-trucking liability
- Bobtail
- Pollution/hazmat
- Trucker’s general liability
What factors affect truck insurance costs?
Certain factors are taken into account when truck insurance carriers evaluate risk. Because of this, your truck insurance quote may be higher or lower than average.
The following has the potential to affect your rates:
Once you’re aware of the factors that drive the cost of truck insurance, you can take proactive measures to lower your rates. For instance, performing detailed background checks on your drivers and implementing various safety training programs is a start.
How quickly can I get a certificate?
As a truck driver, it’s a necessity to acquire certificates of insurance in a moment’s notice. Fortunately, many agencies can issue them automatically through their online customer portal.
Be sure to ask the insurance agent if they have the necessary processes in place to do this.
What discounts am I eligible for?
It’s critical that you ask about discounts! Many carriers offer an abundance of discounts for things such as paying your premium in full, participating in safety training programs, and having no violations on your driving record.
To check your safety status, you can login to SAFER for your company snapshot FMCSA. These are public records and your insurance agent will have access to them.
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