Your driving license could be perfect and you may not have recently filed some insurance claim, yet you’re likely to go through the cycle involving trucking insurance premium increase every year. The increase can be due to various reasons. To help you out, here are some money saving tips for your semi truck insurance:
Police your driving license
Generally, the semi truck insurance cost is directly related to your driving record. The driving record is important since it keeps the insurance premiums in check, and hence one should avoid the tickets like plague. In case you get one, ensure you do your best in order to minimize its impact. However, due to the fact that it has become difficult to make ticket ‘ disappear’ with the aid of a good attorney, you should slow down to avoid getting them.
Protect your credit
What is the relationship between credit and your insurance rates? Most insurance companies have started assigning risk scores to all their potential customers based on some factors including marital status, age, and credit score. One may disagree with the policy, but the insurance companies argue that most customers with low credit scores tend to be less careful drivers. If your state allows this practice, then paying your bills on time will help you in saving money on your semi truck insurance.
Check the overall driving experience
As a fact, the overall driving experience has a dramatic impact on the trucker’s insurance premiums. However, if you hire a co-driver with limited experience or poor driving record, then you’ll have to pay more for insurance. Hiring an experienced driver will make you save more money on the insurance and have peace of mind knowing that a responsible person is in control of the task.
Follow the rules
As an operator or owner, you’re aware of the possible roadside inspections, safety audits and compliance checks. You may fail to realize that the trucking insurance companies pull your safety data on a routine basis when determining the amount you’ll pay for truck insurance. A major perk of compliance is simply spending less cash on fines and other administrative sanctions.
Have a written safety policy
Having written safety policies showing how you handle drug and substance abuse, accidents and other sensitive issues may seem to be wastage of time especially to an independent operator or owner who just drives for a living, mind his business, but they can be a key reducing the truck insurance liabilities. Most companies offer semi truck insurance quote that reduce overall risks. The insurance companies also know that all potential customers who will think about the safety policies and put them down are likely to follow them, and thus the insurance companies reward them with lower insurance premiums.
In conclusion, these are some of the top strategies to help you keep your premiums in check. Some of these strategies will help you save few dollars per month, although others can save more. Generally, substantial savings helps one to exercise some control over how much your insurance premiums take from your budget.