What factors influence the cost of tractor-trailer insurance?

Truck insurance rates are not the same across the board. Every business is different, so every business is going to pay a different price for their tractor-trailer insurance. There are a lot of factors that influence the cost of semi-truck insurance – insurance carriers look at a lot of details about a business before they will give them a quote. We’ll explain some of the factors that affect the cost of tractor-trailer insurance.

Factors that influence the cost of truck insurance.

Your drivers.

Your drivers play a big part in your tractor-trailer insurance. They’re the ones operating your vehicles and spending time on the road, so if they lots of experience driving commercial vehicles and they have a clean driving record you could see lower rates for your truck insurance.

Your tractor-trailers.

The year, make, and model of your trucks can also affect the cost of your tractor-trailer insurance. The insurance company will want to know what kind of trucks you have.

How many trucks you have.

Of course, the size of your fleet is going to affect the cost of your tractor-trailer insurance. Each one of your trucks is going to need proper coverage to make sure that your business is fully protected. More trucks mean more insurance, which will affect what you ultimately end up paying.

Your loss record.

If your business has a history of losses, you’re more of a risk to an insurance company. Statistically, you’re more likely to experience another loss or collision. And since insurance companies aren’t particularly fond of risk, you may have to pay more for insurance. That’s why it’s so important to emphasize safety and safe driving at your business. Not only will it help protect your drivers and keep them out of harm’s way, but it can help you get lower truck insurance rates because you can avoid accidents and losses.

Long story short, improving safety in your trucking business can help you lower your insurance rates.

What you transport.

Your insurance rates will also be affected depending on what you haul and what kind of cargo you transport. Hauling perishable food is different than hauling furniture, for example. And if you haul anything that would be classified as hazmat, chances are you’re going to need more insurance to protect your business because of the greater risk for expensive disaster.

What kind of business you are.

The insurance company is going to want to know exactly what kind of business you are and what kind of work you do.

If you have speeding tickets or other violations.

Speeding tickets and violations also indicate risk to an insurance company. If you have speeding tickets, you will most likely pay more for your truck insurance because insurance companies will see you as having a higher chance of getting into a collision. Like we mentioned before, safety is really important. That means taking care to follow all regulations so you don’t get any violations and always obeying the speed limit.

Your radius.

Your radius of operation can also affect your truck insurance rates. If you do long-haul trucking, you might pay a bit more for your insurance than a company that has a smaller radius of operation.

truck insurance quotes

As you can see, there are quite a few factors that affect the cost of tractor trailer insurance. That’s why it’s important to get a truck insurance quote if you’re trying to find out exactly how much your tractor-trailer insurance will cost. The insurance company will look at a lot of details about your business when deciding whether or not to insure you and how much they will charge you for your insurance.

And our team of truck insurance experts can help you get those quotes. We can help you shop your rates so that you can get the best coverage at the best rate. We’re determined to make insurance easy and to help truck businesses save money on their insurance. All you have to do to get in touch with our team and get started with quotes is to fill out our online form or give us a call today.

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