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How to Get the Best Rates on Trucking Insurance

Insurance helps us in many aspects of our lives, and as a truck owner, your truck insurance can protect you in the event of an unwanted incident. However, it can be a challenging task for a trucking company to find optimal rates for their truck insurance policy.

Though getting the best truck insurance policy is vital, we can’t ignore the significance of receiving a good rate. Nevertheless, a key takeaway is that the insurance industry is getting more and more competitive with new agencies entering the business every day. Fortunately, you may be able to use this to your advantage when shopping around for the best rates.

Don’t worry if you don’t know how to go about it, we’re here to help you out. In this article, we’ll share 5 ways you can get the best rate on your truck insurance.

5 Ways to Get the Best Rates on Your Commercial Insurance

1.      Keep Your Truck Well-Maintained

One of the most important things you can do to receive lower rates is by keeping your truck in good condition. You can do so by ensuring the tires and mechanics are in proper working condition at all times.

Performing regular service on your truck can help detect and prevent any issues from occurring. However, if any issues do arise you need to address them immediately. Failing to do so can cause further mechanical problems and leave you with a larger repair bill.

If an insurer sees you’re taking care of your truck they’ll consider you responsible and less likely to file a claim. As a result, you’ll likely receive lower rates.

2.      Maintain a Clean Driving Record

Another tip to help you get lower rates for your truck insurance is by maintaining a clean driving record. If you have a clean driving record, your insurer will consider you less risky to insure. If you have no accidents or speeding tickets then you’ll likely get lower rates.

The insurance company will consider several factors to determine whether you’re a safe driver or not, such as:

  • Driving under the influence
  • Training
  • Certifications 
  • Number of claims filed
  • Speeding in a school zone
  • Going 20 mph over the posted speed limit
  • Texting and driving
  • Number of accidents 
  • Age/experience

3.      Understand What Factors Affect Your Rates

Apart from things you have control over like your truck and driving record, other various factors can impact your truck insurance rates. For example, if there’s an overall increase in thefts and accidents in the trucking industry then you may see a rise in premiums. The more risky the sector is, the higher your rates will be.

Therefore, to get the best deal on your insurance you need to shop around and get a few quotes from several reputable companies. The more quotes you receive, the more luck you’ll have at acquiring an affordable quote.

4.      Research Insurance Agencies

Before you choose an agency, you need to do your research. Online reviews are a big indicator on the quality of a company and an agency. The best approach is to go with a reputable and well-known insurance agency that specializes in trucking.

You never want to put your trucking business in the hands of someone who doesn’t specialize in it!

5.      Don’t Be Underinsured

You may’ve found a cheap insurance policy, but you could be compromising on your coverage. You should never do this just to save money! Always read over the terms and conditions of the coverage plan before you accept. The last thing you need is finding out your underinsured and having to dish out money from your own pocket.

There are affordable policies out there with great coverage, you just need to shop around and compare your options.

Takeaway

There’s no doubt that finding the right insurance policy can be a bit confusing since there’s so many offers coming your way. However, using these tips, can help you get the best coverage for your trucks in no time.

To get your trucking insurance quote, give us a call or fill out our online form today. You’re on step away from great savings!

 

 

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Sources

https://www.nationalbusinesscapital.com/blog/7-fastest-ways-to-lower-commercial-truck-insurance-rates/

https://engsfinance.com/blog/6-ways-to-reduce-your-commercial-trucking-insurance-premiums/