Ways To Negotiate Lower Commercial Truck Insurance Premiums

Commercial truck insurance is a type of insurance designed to cater to the specific needs of businesses that offer trucking services, owner-operator truck drivers, and any other businesses with trucks. It covers financial losses from bodily injury and property damage caused to someone else by your trucks. In exchange for this protection, you are required to pay a monthly amount to your auto insurance company. This amount is known as the truck insurance premium.

Premiums on truck insurance are payable in advance and can be quite high. The good news is that there are ways to lower your premiums without giving up the amount of protection you need and first-rate customer service.

Here are some useful tips for getting the best rate on your commercial truck insurance.

Buy your insurance directly from an insurance company

One of the best ways to lower your premiums is to purchase your truck insurance from an insurance company instead of the dealership where you bought your vehicles. Insurance companies are better placed to offer the best premiums for your commercial fleet because they may enjoy economies of scale that auto dealerships can achieve.

Pay your premiums annually

Making yearly instead of monthly payments to your truck insurance company is almost always a cost-saving option. Many auto insurers offer discounts on annual premiums in order to encourage policyholders to avoid being late on their monthly payments.

Invest in the safety of your trucks

Showing that you take truck safety seriously is another fantastic way to reduce how much monthly payments you make to your auto insurer. Hire truckers with a clean driving record. The better their record, the less likely they are to cause an accident and the lower your premiums will be.

It is also a good idea to improve the safety of your fleet by adding optional safety features such as:

  • Lane-departure warning systems – used to alert truck drivers that they are veering out of their lane on major roads and highways.
  • GPS speed limiters – used to inform drivers that they have exceeded the recommended driving speeds.
  • Dash camera systems for trucks – used to improve a driver's visibility and awareness on the road.

New truck safety technologies are constantly being rolled out into the market. You should watch out for the latest trends in the sector.

Driving a commercial truck without any insurance is a traffic offense that can have huge implications for your business, including attracting huge fines if you're caught by the police. If you want to keep your commercial truck insurance premiums at a minimum, it is best to consult the professionals at an auto insurance company near you.