If motorcycles are the rock stars of the road, commercial trucks are show stoppers in their own right. They are often the biggest vehicles on the road, leaving other motorists in their shadow. While most drivers remain within a 20- or 30-mile radius of their home during their commute to work, big rig drivers get to travel the country, often visiting a new locale every day.
With these benefits also come risks. As a truck driver, you need to choose the best insurance for your vehicle, which can be pricey. Many truck drivers have trouble finding the right insurance plan that will allow them to work the routes they want to work, make a profit and be covered in case of an accident.
The following are some guidelines for selecting quality big rig truck insurance.
Research, research, research. As a trucker, you should be knowledgeable on all the terms of the coverage you’re thinking of purchasing. Commercial truck insurance varies from the typical car insurance because it usually has sections within it that apply to the cargo a truck is hauling, as well as other aspects of driving that only relate to the trucking industry. Therefore, the coverage that is chosen should protect the driver, the truck, cargo and the other vehicle. It pays to shop around for a company that specializes in commercial truck insurance.
Deductibles. Deductibles on insurance policies can make a big difference if you ever need to use the policy. Like most insurance plans, the deductible determines how much the driver will pay each month. If you choose a small deductible of $500, your monthly payments will be significantly higher than the trucker with a $10,000 deductible. While the lower monthly payment seems much more manageable, you should pay as much as you can afford up front, as opposed to getting hit with a large bill when an accident occurs.
Negotiate. Insurance companies want your business, so you need to get quotes from several different agents. Some companies offer discounts for bundling policies, such as life, home and a second vehicle. Negotiating is an art, so learn it. Once you’ve shopped around and obtained several quotes, present them to another agent and ask him or her to beat that price. If they can’t, keep looking.
Even though many big rig drivers balk at the costly insurance policies, there are ways to cut corners and save. Whatever you do, don’t skimp on insurance. It could come back to bite you in the long haul.