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How to Find Affordable Insurance as a Truck Driver

How to Find Affordable Insurance as a Truck Driver

Photo by Rhys Moult on Unsplash

Many rookie truck drivers tend to have no idea how to get the best insurance rate, how much commercial truck insurance costs, or what sort of coverage they’ll need.

Since you have a commercial driver’s license, your driving will be examined even while you are driving your own car. Below, we’ll explain how premiums for car insurance for truck drivers can stay low by maintaining a clean driving record.

​​Keep a Spotless Driving Record

When looking for commercial insurance, several factors influence the insurance prices you receive. The industry largely influences the rate you work in, the towns you travel through and park your truck in, the year, your vehicle’s size, usage, and driving history.

Based on industry, you may not have total control over the size of your vehicle or where you travel, but you do have complete control over keeping a clean driving record.

Having sufficient insurance is a key step in beginning a tow truck business or any other business, and your driving record has a significant impact on your premium. Even a small traffic offense that happens during a business trip might increase your insurance premium.

After earning a speeding ticket, policyholders should expect a 10% to 20% rise in their rate. As a result, you must drive safely and legally.

Off the clock, you should continue to use a personal car to practice these driving behaviors. Keeping a clean driving record free of infractions and accidents over time may result in your rate reducing from the initial rate.

Enjoy the Benefits of Insurance Discounts

While looking for the most economical insurance, compare all the prices and discounts available to you. Discounts are an easy method to reduce the cost of your commercial vehicle insurance and keep your business from giving you a headache. Here are a few examples of typical discounts:

  • Business insurance discount
  • Business owner experience
  • Commercial driver’s license (CDL)
  • Continuous auto insurance
  • Multi-policy discounts
  • Paid-in-full discount 
  • Proof of prior insurance discount

You should select a policy that provides you with the finest coverage at the most inexpensive costs after researching the discounts and rates given by various providers.

Increase or Decrease Your Coverage Limits and Deductibles

Consider how well the vehicle can withstand an accident and how much it would cost to fix it as one strategy to ensure you’re getting the right truck for your business. When you consider this, you may want to give yourself some leeway regarding coverage limitations and deductibles.

You may reduce your premium by raising your deductible or decreasing your coverage. Lowering your liability coverage from 500 combined single limit (CSL) to 100 CSL is an example of coverage adjustment.

You could also save money by raising your deductible for physical damage. This means you’ll have to pay extra out of pocket if you file an accident claim, but it can be worth it if you’re a safe and sensible driver.

You may reduce your coverage limit and raise your deductible to save money. The amount of coverage you reduce is determined by the cost of repairing your truck and the amount of damage the vehicle can do in a collision.

If you decide to cut coverage or increase your deductible after analyzing and accepting a rate with reductions, be sure you are OK with the amounts you choose before purchasing the insurance.

Imani Francies writes and researches for the car insurance comparison site, CheapCarInsuranceQuotes.com. She enjoys helping business owners find the best coverage for their operations. 

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