3 Effective Ways Truckers Can Save On Commercial Trucking Insurance
Posted on: 9 January 2019
If you drive a semitruck for a particular business, then it's absolutely essential to get commercial truck insurance. It helps take care of costs in case you're involved in any accident. So that you don't have to spend a fortune on this type of insurance policy every month, remember these money-saving strategies.
Shop Around
Different insurance providers typically charge different rates for their commercial trucking insurance policies. That being said, you need to compare the rates of different companies so that you end up with a policy that works for your budget perfectly.
To do this, you'll need to give these companies some personal information, such as the type of truck you drive and what type of policy you're looking to get. They'll then give you policy estimates that you can compare side by side. Look for the policy that's the most affordable.
Raise Deductible
The deductible is the amount of money you pay out of pocket before your insurance kicks in. By raising this deductible, you can actually lower your premiums -- the monthly payments you make on your commercial trucking insurance policy.
Raising this deductible figure is certainly worth the extra savings you can get, but you need to be careful. You don't want to raise this deductible so much that it becomes unfeasible to pay. If this happened and you didn't meet your deductible before getting into an accident, you may have to spend a lot more and put yourself in a stressful financial situation.
Maintain a Good Driving History
There are some insurance providers out there that will reward semitruck drivers for their good driving behavior. These discounts are often referred to as "good-driver discounts." They can save you a lot of money over the years, but to qualify for them, you need to maintain a good driving history.
You need to avoid wrecks at all costs and not get any speeding tickets. Your driving record needs to be spotless as it makes you less risky in the eyes of your insurance provider. To achieve these feats, simply follow the rules of the road and take your time with each truck haul.
No matter what types of goods you haul across state lines for companies, it's essential to insure your semitruck. Doing so doesn't have to be as expensive as it seems either. Just take your time researching ways to save money before you sign up for a trucker insurance policy.
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