Do you drive a truck or own a trucking company? Are you looking for quality cheap truck insurance?
High truck insurance fees can really eat away at your business’s bottom line. This is especially true if you’ve got several drivers to worry about. Yet you can keep your costs reasonable if you know what you’re looking for.
Here are our favorite tips on how to get affordable truck insurance.
1. Invest in Newer Trucks
Newer trucks have all of the latest safety features, and maintenance problems will be less of an issue out on the road. This may lead insurance companies to provide lower premiums for you.
In addition to lower coverage for truckers, newer trucks can provide you with the added security of knowing that you’ll be spending less on repairs. It’s also a great way to advertise your business to prospective customers.
2. Check Out Driver Histories
If you’re in charge of several trucks, you’ll want to check out the histories of your drivers before you hire them. In fact, the Federal Motor Safety Carrier Administration (FMSCA) has a Pre-Employment Screening Program available. It uses driver’s past records to give an indicator of their likely future performance.
If you’re serious about keeping your insurance premiums down, make sure you hire drivers who you know will be safe with your vehicles.
3. Ask About Discounts
Some reputable truck insurance companies offer discounts to trucking outfits for a number of reasons. These could be clean driving records, loyal customers, or even new clients. Before making a final decision about an insurance company, it pays to find out what types of discounts are available.
4. Pay On Time
If you have a history of late payments on your insurance, your premiums could go up. Often, this is simply a matter of forgetting to make payments on time because of all the paperwork involved in running a trucking company.
To ensure that you’re always making your payments in a timely manner, it’s worth it to sign up for auto-pay. These payments are taken directly out of your account each month.
Auto-pay is fast, safe, and inexpensive in terms of your time and money. It also gives you peace of mind and helps you save paper.
5. Write Down Your Safety Policy
It may seem like an unnecessary step if you’ve already vetted your drivers, but having a written safety policy can help you save some cash on truck insurance.
You’ll want to detail how you’ll handle important safety issues. These could include accidents, truck damage, or substance abuse.
Some truck insurance companies will reward you with lower premiums if you have your safety policy written down. It will also give you the peace of mind of knowing that all of your drivers are aware of the details of your expectations.
Finding Cheap Truck Insurance
Truck insurance premiums can become quite an expense. However, with the right background checks, safety precautions, and credit history, you can have cheap truck insurance that’s adequate and reliable.
Don’t stop getting smart about your business and finances now. For more great advice, read our blog today.