Home > Blog > Money and Finance

How To Get The Best Deal Possible For Commercial Truck Insurance

A commercial truck driver has far more obligations and they work under more strict rules and laws compared to a normal driver. They are mostly transporting freight, which to a certain degree can be a liability and there are also other duties that force them to be more keen drivers. Causing an accident without having any essential insurance is every truck business owner or driver’s nightmare. Such a situation can impact negatively their career as well as cause harm to those involved and the public.

Commercial truck insurance is essential for a number of reasons. First of all, it is required by law. Insurance also protects both the owners and drivers in case of loss of cargo, liability in an accident and even in situations like when an overhaul repair is needed. So how can trucking companies ensure they get the best deal possible for their commercial truck insurance?

1.      Ask for referrals

One of the best ways to get what you are looking for is to ask around. You can start by going to the most successful people you know in the trucking business. There might be some good reasons for their success and one of them could be having the best commercial trucking insurance agent in the business. Most successful people are often eager to help so asking them for referrals shouldn’t be difficult.

You can also ask your truck dealer, or motor carrier or dig a little deeper and do some internet research. The internet is full of all sorts of interesting and sometimes inaccurate information but if you can spare some time to separate the wheat from the chaff you might just get exactly what you are looking for.

2.      Experience

It is often a good idea to go for a company that has more experience in trucking insurance. Therefore, when asking around and doing your research, make experience one of your top searches too. Insurance agents with significant experiences are very useful and also most times they offer lower prices compared to others. However, always take extreme caution in those who offer lower prices since lower prices don’t always mean better services.

3.      Insurance quotes

Looking at the insurance quotes in the market is very important. This can easily be done over the internet by visiting the websites of the various insurance companies that offer commercial insurance for trucks. You can also fill out forms of potential insurers and most of them, if not all, are bound to send a quote and you can choose from there. This way you can be able to identify the companies with the best quotes you can work with.

Once you have all the quotes you need, you can conduct a thorough review of every one of them. Again do not settle for an insurer just because their rates are low. Usually, the best one to choose is the one offering the best coverage you need for money paid. Those who offer cheaper quotes than others always have a reason for doing so so find out why and make a decision whether you still want to work with them.

4.      What it covers

For instance, if your trucking business is being insured for the first time, including riders in the cover is important. Usually, such an option can be offered at a charge that is higher than the normal cover. Also, paying the insurance on an annual basis is usually way cheaper. This is because some insurance companies offer discounts for payments made in bulk. Therefore, while doing your research; also consider such a truck insurance company that has such an offer.

The bottom line is investing a little time now in comparing the commercial truck insurers in the market can save you hours and money later.