Reduce Commercial Trucking Insurance Cost
A vital aspect of your truck driving job is insurance. However, many truck drivers have the same insurance stories – year and after year premium increase regardless of your driving record. There are many practical and easy ways to help minimize these expense increases and maintian proper credentials for your truck driving job.
This applies to both company drivers and owner operator drivers.
Maintain Good Credit — In many states, credit scores are directly tied to your truck driving insurance premiums. Some insurance companies feel that is you have poor credit, you are a careless driver and more likely to be in an accident. Keeping a good credit score could save you a lot on your commercial insurance premiums.
Increase Your deductible — The higher the deductible you carry, the lower your insurance. Consider increasing your deductible to reduce your premiums. Make sure you have enough money available to cover the deductible if an incident happens.
Choose Driving Partners Carefully — Driving with a co-driver that has a poor record could affect your premiums as well. Be selective about your co-drivers you work with.
Do Not Violate DOT Rules — Trucking insurance companies routinely pull your safety data when calculating your premiums. What may seem like a small DOT infraction at the time may have long term financial consequences. Check your states CDL Requirements.
Avoid Accidents — This may seem like common sense, but one small accident can affect your premiums for a long time. Be diligent and work hard at driving safely at all costs – slow down, put away distractions, and drive rested.
Shop For Insurance — Check with a variety of companies for the lowest possible rates. Make sure you are comparing the same coverage between carriers. If you find a lower rate, let the companies know you have a lower rate and see if they will bid against each other.
Watch Your Driving Record Carefully — Having moving violations on your record could drastically affect how much you pay for insurance. Work hard at avoiding tickets and maintaining a clean record.