Thursday, July 19, 2012

Insurance for Your Big Rig That Won’t Break the Bank

Being the owner/operator of a commercial truck is a major responsibility, but the position also has many perks. Your big rig puts you in the driver’s seat when it comes to deciding which routes to choose, what cargo to transport and what hours to keep.
    As one of the largest vehicles on the road, you’re already aware that commercial trucks can cause extensive damage to other drivers and serious injury to passengers in the event of an accident. Because big rig insurance can cost an arm and a leg, some owner/operators try to keep their expenses down by not carrying adequate coverage. Skimping now can hurt you in the long run.
    As a transport professional, you’ve invested the time and resources and taken out loans to go into business for yourself. One crash can wipe out everything you’ve worked so hard for. The following tips can help you shop for insurance for your big rig that won’t break the bank:

    Mind your mileage. The rewards of working under your own authority are having financial freedom and the opportunity to travel the country with every new job. The downfall, however, is that you’re also racking up miles on your odometer, which can translate to a higher premium. If you’re trying to keep your insurance costs down, try to maintain low mileage on your big rig to get better rates. Insurance agents believe that less time spent behind the wheel lowers your chances of being involved in an accident, and they’ll give you a discount if you stay within a certain radius.

    It’s all about the cargo. Depending on what types of cargo you transport, you could be eligible for a discount. Obviously, if you’re hauling highly flammable liquids and materials, your premiums will soar. Get a better rate on your insurance policy by transporting non-hazardous goods.

    Insure multiple vehicles. Another way to save money is by insuring multiple trucks or to combine your home and commercial truck policies. Depending on the carrier, a multi-line insurance policy can shave dollars from your premium.

    It pays to shop around to obtain discounted commercial truck insurance to manage your risk exposure. Protecting your livelihood should be first and foremost in your mind, so talk to a professional who understands your business needs.

1 comment:

  1. This is a great article. I help manage a group of fleet trucks. I think I may be looking into switching our insurance shortly. Thanks for all the tips!

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