Save Money on Trucking Insurance
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Commercial insurance for semi trucks is not likely to top anybody's list of favorite topics, but it's a necessary part of doing business so at some point it needs to be discussed. One way to enliven that discussion is to figure out the best ways for you to spend less on your commercial semi truck liability insurance while still maintaining quality coverage.
Should you compare bobtail coverage vs non-trucking? Or do you know the best state for semi truck insurance, as coverage rates can vary wildly across the country? Even personally keeping your rig clean when it's inspected by an insurance agent can affect the cost of your CDL owner operator insurance. Let's look at some other ways to save.
Tips for saving money on commercial semi insurance rates
Semi truck coverage is very expensive, so don't purchase a plan lightly. These tips should help you get low cost commercial truck insurance that won't leave you hanging when you need it.
Get your driving history including any accident incidents, coverage history and vehicle reports and go to multiple agencies to find the best overall price. Your driving history plays into your premium quite a bit, so have all your information ready if they request it.
Extend your policy
Going for a multi-year (usually 3) policy will lock in your interest rate and pairs nicely with the first step of gathering commercial semi truck insurance quotes. You won't have the fear that you're locked into a bad rate if you do your homework first.
Be responsible about maintenance
If you show a history (like receipts) of keeping your rig well-maintained, your insurer may cut you a discount. Anything that reduces their liability and serves as an example of your own responsibility will help lower your rates.
Go for a higher deductible
This is almost a gamble, but if you're a meticulously safe driver (you are, aren't you?) it can really pay off. By going for “voluntary excess”, you increase your deductible in the event of an accident but your premiums will go down.
Do you need comprehensive coverage?
Just like you wouldn't pull full coverage on a 1990 Ford Tempo, you don't need comprehensive coverage on an old rig that's just riding out its life.
Scope out safe storing
If your regular routes take you to sketchy places, finding the safest possible place to keep your truck overnight and having that in a detailed plan can help lower your rates. Agents will examine all possible risks and the locale of your routes is definitely one of them.
Don't necessarily bundle
In some cases, it might be cheaper to find the best cargo insurance companies and get a rate from them instead of bundling all your coverage with your truck liability company.
A little research can mean a lot of money
Spend a bit of time preparing your driving and maintenance history and meeting with insurers for tractor trailer insurance quotes. Just searching “trucking insurance near me” won't get you the ins to a better rate; talk to real people, do your homework and it will save you each and every year.
You'll find that thousands of truck drivers trust Insure My Rig for all their trucking insurance needs, and we are here for you too. Contact us today to discuss how we can save you money on your next trucking insurance quote!