Whether you are looking for commercial truck insurance for a brand-new fleet as you start a new company or you just want to reduce your current premiums for an established fleet, there are a number of best practices you can follow to try and keep your insurance costs down. Here are some tips on how to save money on your commercial truck insurance.
Add Features to Your Trucks
Commercial insurance providers off discounts for a variety of features that you can equip your trucks with. For example, installing anti-theft devices on every vehicle in your fleet may lead to savings. Adding a GPS device to each truck that lets it be found if it is stolen may also help. A dash cam in every vehicle that will provide evidence in case of an accident could also lead to reduced rates.
Lower Your Premium By Raising Your Deductible
When your fleet is new, you may want to protect your investment as much as possible by opting for low deductibles. This means if something happens to your vehicle, you won't have to pay a large amount of money before the insurance kicks in to cover the rest. But if the vehicles are getting older or if your company is more established and can live with the higher risk, you could dramatically lower your premium by making a significant change to your deductible. The higher your deductible, the lower your premium will be. Just make sure you keep that deductible at an amount that you can easily afford if something does go wrong.
Hire Drivers With Clean Records
When hiring new drivers for your trucking firm, pay close attention to their age as well as their driving record. Older drivers typically are viewed as more experience and less likely to drive dangerously by most insurance firms. A driver of any age with no accident on their record will also result in lower premiums than a driver with a negative history.
Review Your Policy Annually
For best results, keep an eye on your insurance premium every year around renewal time. Keep in mind that different vehicles in your fleet may renew at different times of the year. Paying your insurance in full each year instead of monthly installments may save money but this review is also an opportunity to change or drop coverage in order to save some more cash. Reach out to a local provider of commercial truck insurance today to get started.Share