No matter how good of a driver you are, you probably notice your truck insurance premiums rising every year. Though most factors that cause premiums to increase aren’t in your control, there are some things you can do to try and keep them as low as possible.
Don’t worry if you do not know where to start. Here’s 6 ways to save on your truck insurance.
How to Save on Your Truck Insurance
Have a Clean Driving Record
Keep in mind that your driving record heavily influences your truck insurance premiums. Even though it may be tempting to fly past all the slow drivers on the highway, tickets and fines may follow. Keeping a clean driving record is critical to keeping your insurance rates as low as possible. The best way to keep a clean driving record is by slowing down and obeying the speed limit.
Be Cautious Who You Put behind the Wheel
As mentioned above, your driving record directly impacts your truck insurance premium. Therefore, you need to be cautious who you put behind the wheel. It’s important to check your drivers records before hiring them and stressing the important of obeying the rules of the road. Failing to do so can impact your insurance premiums even though someone else is driving.
The best way to keep your rates down is to only hire experienced drivers with clean records. By doing so you can enjoy lower premiums and rest assured that you’re business is in good hands.
Keep a Good Credit Score
You might be wondering “how can my credit score impact my insurance rates?”
You should know that some insurers look at your credit score when determining your insurance premiums. Often times, individuals with lower credit scores tend to be more careless drivers. Therefore, your insurer may consider you a high-risk customer.
The best way to avoid this is by paying your credit card bills on time.
Lease with a Large Carrier
Leasing onto a reliable, large carrier can be beneficial no matter how much you like your independence. Often times, large carriers offer substantial discounts to their truckers.
Regardless of whether or not you want to give up being your own boss, this is always an option if you’d like to lower your premiums.
There’s a direct correlation between insurance premiums and truck accidents. It makes sense that the more accidents you’ve been in, the higher your truck insurance premiums will be. Therefore, you need to take proactive steps to avoid accidents all together.
In short, avoid driving recklessly, tailgating, and speeding as they increase the risk of accidents.
Follow the Rules
It’s important you educate yourself and your drivers on federal rules and regulations, as well as safety. Often times roadside inspections are conducted and those results can be pulled in order to determine your insurance rates. Therefore, it’s crucial to comply with all regulations and stress the importance of them with your drivers.
In conclusion, taking the measures mentioned above can help you save a significant amount on your insurance premiums. Thus, it’s best to discuss this with your insurance agent who specializes in trucking.