The Basics of Commercial Truck Insurance
Insiders Guide: Your Safety record & Claims experienced will dictate the premium you pay.
Your Safety record & Claims experienced will dictate the premium you pay.
In addition to the coverage, cost and policy service issues we have outlined above, your agent and commercial truck insurance carrier must be able to work with you on maximizing your safety and thereby minimizing your accidents an ultimately reducing your insurance costs. As we know, accidents are expensive to an over the road trucking operation in many different ways. Consider: when you have an accident; you have a load that isn’t getting delivered on time, and so you probably an unhappy shipper or broker. You have a vehicle that requires repairs, you probably have a deductible so that’s cash out of your pocket; you are not running for a period of time (hopefully you have insurance for this lost revenue); over time, poor accident history really drives up insurance costs. Plus, accidents go against your safety scores with FMCSA/DOT. You can lose your CDL. You can have shippers refuse to give you freight and even get pulled off the road by the enforcement authorities. ACCIDENTS ARE EXPENSIVE. Your agent and your insurance company better have your back by working with you on your safety and maintenance to be sure your are on the right road to safe trucking and reduced expenses of operation.