Commercial truck insurance can take up a big chunk of your budget. Due to their large size, trucks are more expensive to insure than cargo vans and other commercial vehicles. But there are ways to cut costs without giving up coverage or service quality.
Whether your business needs auto insurance for a single truck or a whole fleet, take the time to research your options. Shop around, get multiple quotes, and look for discounts.
The best business truck insurance policy will not only cover repairs and damage to your truck but also protect your drivers.
Therefore, it’s not in your interest to get less coverage for the sake of saving money. Instead, consider paying a higher deductible or insuring your business and truck fleet with the same company.
Not sure where to start? Follow these steps to get the best truck insurance rates online and reduce business costs!
Know Your Risks
While you can save money by cutting back on coverage, that’s not always the smartest thing to do. Assess your risks and business needs before deciding on the amount of coverage.
Trucks with a large operating radius, for example, are at higher risk for accidents. If you’ve just hired a new driver, he may not be familiar with the route, which further increases the risks involved. In such cases, it makes sense to get more coverage.
If you’re an owner-operator, consider adding non-liability trucking insurance to your policy. This way, you’ll have peace of mind knowing that you’re covered in case something goes wrong while using your truck for personal purposes.
To stay on the safe side, buy more coverage than you think you need. Next, go online and look up the best commercial truck insurance companies.
Get at least three insurance quotes from different providers. Compare them side-by-side and ask about any discounts available.
Once you have a list of truck insurance providers, take the time to research them online. Make sure they’re financially sound and can afford to pay in the event of a claim.
Check each company with the Better Business Bureau. Read customer reviews on Yelp and other local directories, as well as on social media. Ask other business owners about their experience with the companies you’re interested in.
Seek Ways to Lower Your Costs
The best truck insurance policy might not be the cheapest, but there are steps you can take to lower your rates.
For example, you may choose to pay your premiums up front or raise your deductible. Another option is to ensure your truck and personal car with the same provider.
Don’t forget about commercial auto insurance discounts.
Simple things, like hiring experienced drivers or staying with the same insurance provider for longer than 12 months, can save you big. Also, expect to get better rates if you’ve been in business for at least three years.
Get the Best Truck Insurance for Less
From comparison shopping to multi-policy discounts, there are dozens of ways to bring your rates down. Even if you’re unable to pay upfront, you can still get the best truck insurance without sacrificing coverage.
Have you seen our coverage options? In addition to liability and physical damage coverage, we offer non trucking liability insurance companies, umbrella coverage, and more.
Request a free quote today or contact us to discuss your needs!