Every truck driver’s nightmare is getting into an accident without the right insurance. If you own a company with commercial trucking, then you know how expensive the insurance premiums can be. So, you try to find the policy with the cheapest rates, right? Not exactly. Policies with less expensive premiums can end up costing you much more in the event of an accident where your company is liable. If your goal is to find high quality, inexpensive commercial trucking insurance, there are several things to look out for.
Most insurance companies will take the location of your truck’s overnight parking into consideration. It is important to make a clear distinction between your mailing address and the address of your garage. In Chicago, insurance companies have a rating system and charge higher premiums for certain zip codes.
Another factor that will affect your quote is the radius of your trucking operation. Some insurance companies will only provide coverage for operations within a 300-mile radius, while others specialize in wider ranges. No matter what company you go with, the radius of your trucking company will certainly have an impact on your quote.
You must also consider the merchandise in which your truck is carrying. Insurance companies tend to charge higher premiums for trucks hauling cargo like refrigerated food, expensive clothes, and electronics. However, lighter cargo like paper and plastic products will be seen as less risky in the eyes of the insurance company.
If you want to learn more about how to find cheap commercial trucking insurance, Insurance Navy agents are always available to help. You can also find more information on our website at www.insurancenavy.com