COMMERCIAL TRUCKING INSURANCE TIPS FOR GETTING THE BEST RATE

When getting a quote or talking to a broker, you’ll find that the initial policy figures are not set in stone. There are a lot of different things you can do to lower your premiums, and a lot of this starts with your coverage maximums and policy requirements.

A few tips that will help you save money when trying to obtain commercial trucking insurance include:

1. Haggle: When talking to a broker, don’t be afraid to mention other quotes you’ve received and ask if they can be matched or beaten. You lose nothing by haggling for a lower price.
2. Pay in Full: It may not be realistic for everyone, but if you have the ability, you can pay for your premium in full to save a decent chunk of change in the process.
3. Cargo Insurance: What type of cargo do you haul? You’ll want to look at your cargo insurance limits to ensure you’re not covering $1 million of goods when you haul $200,000 worth of goods normally. If you have a special haul in the future, you can often work out coverage increases on a one-off basis.
   
4. Raise the Deductible: All policies have deductibles, and raising your deductible can save you money. Just remember that in the event that you’re in an accident, raising premiums will require more out of pocket expenses, which isn’t always ideal.
5. SAFER Scores: The FMCSA data can be wrong, and these errors can cost you a lot of money. SAFER scores that are misrepresented can cost you money. Insurers want clients that are safe drivers and a lower risk.
6. Experience: The CDL experience you have can lower your premiums. The more experience you have, the better it will be when trying to negotiate cheaper insurance rates.
7. Logbook Violations: The dreaded logbook needs to be filled out properly at all times. Errors in your logbook can cause you to pay inflated premiums.

Working with reputable commercial truck insurance companies will give you peace of mind that you and your rig are covered in the event of an accident. Discussing your options with a broker or representative is the first step in securing trucking insurance.