Truck Insurance is a valuable part of any truck owner/operator, small or independent. You can reduce your insurance costs while still ensuring the safety of your business and employees.
The first step is to do a background check. You should look for drivers with clean driving records. This is one thing insurance companies look for in order to reduce your premiums. It is a good rule of thumb to hire drivers who have not been convicted of any minor offenses in the last three years.
The more experience a truck driver has, generally speaking, the better they are able to handle bad weather, road rage and other dangers that truck drivers face every day. It’s not surprising that insurance companies take experience into account when determining your premiums. This is why you should only hire CDL-experienced drivers.
Take a look at your routes
Your insurance premiums can be affected by the routes you drive. Driving in areas that are more frequented by bad weather or high traffic can lead to more accidents. You may be able lower your insurance rates if you avoid these areas.
Take a look at your trucks
You should only purchase the right vehicle for your job. A larger truck or one that costs more could lead to higher insurance rates. Keep up with your truck maintenance and add safety features to your trucks.
Take into account Policy Structure
Combining multiple insurance policies with the same company can often lower your overall cost. A higher deductible can reduce your annual premiums. However, you must have the deductible amount available for any claim.
Make safety a priority
Your DOT Safety record is a key factor in determining your insurance rate. The same goes for your insurance claims history. This includes how many claims have you filed and the amount of those claims. Your rates will be lower if you have a good record and you file fewer claims.
Although you cannot do anything about the claims history of your past, there are steps you can take to reduce future claims. This will lead to significant savings in the long-term. Create a safety culture with safety programs and safety training for your drivers.
This is the simplest tip to lower your truck insurance rates
Tego Insurance agents are experts in truck insurance. They will help you find the right coverage for your needs and challenges. As independent agents, they can compare the cost of the coverage with multiple insurance companies to ensure that you get the best rate.