How to Reduce Your Trucking Insurance Premiums

Your commercial trucking insurance will keep increasing regardless of your driving record. There is hope however. You can reduce your commercial trucking premium and here are a few ways you can do that.

1. Employ Experienced Drivers

Insurance providers prefer experienced drivers because they perceive your operation as relatively less risky. Besides the discount,  experienced truck drivers can better deal with adverse weather and other difficulties. Ideally, your drivers should have at least 2 years of CDL experience.

2. Hire Drivers with Clean Driving Records

Drivers with a history of numerous accidents and violations have a higher risk index compared to their counterparts. The reverse is also true and insurance providers do take notice of this trend. Ideally, hire drivers with at most 2 minor moving violations in 3 years.

3. Verify Driver Employment History

A driver who is constantly changing companies does not inspire confidence with insurance providers. Conversely, drivers who have served extended periods of time with few companies is perceived as more stable, and has a cleaner history with fewer employment (and possibly insurance coverage) gaps to review. It also implies that they are experienced with specific equipment and routes.

4. Map out Your Trucking Routes

The routes on which your trucks operate have an impact on your operating risk. Factors such as frequency of inclement weather and population density have an impact on the risk level of a particular route. Ideally, avoid high population metro areas and areas prone to bad weather when mapping out your route.

5. Use Newer Trucks

The age, value and condition of your trucks have an impact in determining your commercial trucking insurance premiums.  Ideally, stick to new trucks, 10 years or newer. The truck should also have modern equipment when possible; such as accident avoidance technologies geared toward commercial trucks is a bonus.

6. Consider a Higher Deductible

You can always adjust your premium policy. A higher deductible results in lower trucking insurance premium.  If you decide to go down this route, select a deductible your company can afford to front without additional burden. But, before proceeding with changes to your policy, set up a policy review with your commercial trucking insurance agent to find out the best options for reducing your company’s insurance premiums.


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