Making sure your company's drivers are insured when on the road is critical, but you also don't want to spend too much money to insure them. Fortunately, there are a few ways you can help to keep your premiums lower while still carrying the coverage you need. Here are a few things to consider as you look for commercial truck insurance.
Having drivers with clean driving records can help you to keep your rates down. Insurance companies want to know that they aren't taking a large risk when providing you with coverage. This means hiring drivers with clean records. If one of your drivers receives a ticket for speeding or for a moving violation, it may also be in your interests to hire a lawyer to fight the ticket. In some cases, you can get the ticket thrown out, which can help to ensure your drivers maintain their clean records.
Pay In Advance
Paying your premiums annually or semi-annually may be one way to keep your overall premiums lower. Some insurance carriers may charge more if you make monthly payments, and they may offer discounts for making one or two payments to cover the costs of the entire year. Talk to your insurance agent to see how much you can save by paying every 6 months or every year. You may also be able to get a discount for quarterly payments if annual or semi-annual options are too much for you to pay at one time.
Opt For Higher Deductibles
If you are confident you have a crew of safe drivers, you may be willing to take the risk of choosing higher deductibles in exchange for lower premiums. This option does require you to pay more out of pocket in the event of an accident, but it pays off in the long run if your drivers don't have any issues on the road. You'll pay less every month, and you'll still enjoy the coverage you need to keep your fleet on the road. Work with your accounting department to determine how much you can afford to pay out of pocket in the event of an accident, and then talk to your insurance agent about adjusting your deductible to meet that amount.
Your insurance company may also offer other discounts, such as multiple line discounts, which can provide savings if you invest in a number of insurance policies through the same carrier. Ask about these discounts, and compare rates from several companies to ensure you are getting the right coverage at the right price for your company.