3 Useful Tips To Keep In Mind When Purchasing Commercial Insurance As A Trucker
Posted on: 19 December 2018
If you work as a full-time trucker, you'll need commercial truck insurance. Otherwise, you'd be liable for a lot should you get involved in an accident. Choosing an appropriate insurance policy as a trucker doesn't have to be that complex if you use these tips:
Gather Multiple Quotes Online
Before you key in on any one particular insurance policy, you first need to find out what a good rate is. You can do just that by gathering estimates from different insurance providers. The best part about this is you can do so completely online.
You just need to know the insurance type you need and give information about your semitruck. Within minutes, companies will give you fairly accurate estimates that you can compare closely. See which insurance provider offers the best rate for commercial truck insurance. If they're all roughly the same, then you can start assessing other factors like reputation and experience.
Raise Your Deductible
So that you can save some money on your commercial trucking insurance policy, you should strongly consider raising your deductible. This is the amount you have to pay for damage before your insurance finally covers some costs.
When you raise this deductible, you can lower your monthly premiums. You'll thus be able to save money each money, all while keeping your semitruck insured. Just be careful that you don't raise this deductible amount so much that you end up hurting yourself financially down the road. If you're not sure how much to raise this figure, you can always talk to an insurance agent.
Select an Appropriate Type
There are many forms of insurance commercial truckers can purchase today. Some of these include public liability, general liability, bobtail, and physical damage coverage. You'll absolutely need a liability policy, as it covers injury and damage if you're responsible for the accident.
Which other policies you get really depends on the risk you're willing to take on. For example, if you want protection when traveling between jobs, it would serve you well to get bobtail insurance. This way, there are no gaps in your coverage. Or if you're worried about theft or vandalism, you'll want to get an additional physical damage policy.
No matter what type of cargo you transport as a full-time trucker, it's essential to insure your rig. This won't be that difficult either as long as you know what to look for in a commercial truck insurance policy.Share