As the
independent owner and operator of a commercial truck, you sit behind the wheel
of your big rig for hours on end, transporting cargo for hundreds of miles.
Your job provides independence, flexibility and the opportunity to travel, but
being on the road for long stretches of time also increases the likelihood of
an accident. According to the Insurance Institute for Highway Safety, over half
a million large truck and commercial vehicles were involved in accidents in
2010, and that number continues to rise. If you are uninsured at the time of a
crash, the accident could leave you financially devastated.
Your
trucking business is important, and it’s just as vital to protect your
investment and your livelihood. Because commercial trucks are much larger than
regular automobiles and cause extensive property damage and bodily injury, they
are considered a higher risk by insurance companies and carry a more expensive
premium. Don’t put off obtaining insurance due to the price of a policy,
because a collision could cost you a fortune.
The
following tips can help you obtain cost-effective insurance for your big rig:
A clean driving record and history. It
pays to be a good driver. You may be entitled to a lower premium if your
driving record and history shows that you’ve been accident- and ticket-free for
a number of years. Other factors that may be taken into consideration by an
insurance agent are how long you have been driving commercial trucks and how
established your route is.
Safety is key. As mentioned above, big
rigs are larger than the average vehicle and therefore cause greater damage,
which results in a pricy premium. But some insurance carriers will provide
discounts if you alert other drivers by posting safety signage on your truck.
You can save big bucks by doing little things, such as featuring a sign “How am
I Driving?” “We Hire Safe Drivers” or “This Vehicle Makes Wide Right Turns.”
Taking proactive steps for vehicle safety demonstrates that you are a
responsible driver concerned about reducing risk and can pay off in the long
run. Another tip for reducing rates is to take safety classes and instructions.
Maintain your big rig. It should go without
saying that a well-maintained commercial truck that is in proper working order,
gets regular checkups and can pass routine inspections sends a message to
insurance agents that you take vehicle safety seriously. This can translate to
a lower premium.
Protect your credit. Some insurance
carriers take the age and credit score of potential clients into consideration
when drafting a policy. The logic behind this process is that clients with bad
credit scores tend to be more reckless behind the wheel. Maintain your good
credit by paying your bills on time, and it could shave a few more dollars off
your premium.
Buying
commercial truck insurance doesn’t have to be a lengthy or expensive process if
you do your homework beforehand. Talk to an insurance agent today to discover
which policy is right for you and your business.
