How to Lower Your Trucking Insurance Rates

Trucking insurance is an insurance policy geared to cover business trucks used for commercial purposes. This insurance can be expensive depending on how large your vehicles are and the size of your business, so it is important to know ways to save money on your trucking insurance. 

Raising Your Credit 
As with most insurance policies, credit score can affect the cost of trucking insurance. If the policyholder, often the business owner, has a low credit score, they may pay higher for trucking insurance. This is because insurers view credit as an example of how reliable you will be in paying insurance premiums in full and on time. 

You can raise your credit score by paying off loans and staying out of debt. 

Choose Your Trucks Carefully 
Different aspects of your business’ trucks can influence the cost of your trucking insurance. While you will need certain sized trucks for your business, there are other aspects you may be able to control. 

Vehicles with higher safety ratings, for example, may cost less to insure since this lowers the risk of theft and vandalism that may be covered under your trucking insurance policy. 

Vet Potential Drivers 
No only can the policyholder’s credit affect trucking insurance rates, but so can the credit score and driving record of all drivers who will be operating the vehicles. If you have multiple employees driving your company’s trucks, you will want to make sure each one is trustworthy and has a clean driving record and credit score. This can also help avoid accidents by hiring drivers who drive defensively and avoid distractions on the road. 

This is also important because a history of claims or accidents are one of the biggest influences on trucking insurance premiums. If your business has a history of accidents and claims on its trucking insurance policy, an insurer may charge you more on your premiums to offset their risk. 

Ask About Discounts 
As with other auto insurance policies, you may qualify for trucking insurance discounts. Be sure to ask your insurance agent about discounts you or your business may qualify to save money on trucking insurance. 

Compare Quotes 
Before purchasing a trucking insurance policy or switching insurers, be sure to compare quotes between multiple insurance providers. This can help you find the most affordable trucking insurance policy for the coverage you and your business needs.