Think of your trucking insurance premium on a risk meter. The more potential risk an insurance carrier views the higher the premium. Here are the major factors when a carrier determines your rate:
- Your Drivers History:Â A clean driving record in any case will help you secure a much lower rate v.s a driving record which has a history of accidents, violations, and more.
- Business Timeline:Â How long you’ve been in business is a huge factor to determining the premium price. In most cases, businesses with over 2 years will receive a much lower premium than businesses that have less than 2 years.
- Cargo:Â What you haul in your truck and how heavy it is being hauled will impact the risk level which will change the premium.
- Location + Operating Radius:Â The longer the operating distance the higher the premium will usually be. Longer distance means more risk because a driver has an increased risk of accidents, falling asleep behind the wheel, loosing focus on the road, and changing weather conditions throughout different areas.
- Vehicle Type:Â Â The heavier the truck, the more the premium will increase. Heavy truck means more risk in event of an accident.
Related FAQs
Commercial truck insurance rates are high because insurance companies know that there's a higher risk of injury and accidents.  Why have the rates risen in the past decade? US Commercial truck insurance ...
All insurers charge different rates for new trucking companies and owner-operators. You are legally allowed to start a trucking company without a CDL, but if you plan on driving ...
Doing your research upfront, taking good care of your truck, and looking for the least expensive coverage available are three ways to save money on trucking insurance. Keep your driving ...
Typically, a trucking company will be insured for these lines of coverage: Auto Liability, General Liability, Physical Damage, Motor Cargo Coverage, Comprehensive/Collision Insurance. Contact us at for more information about protecting your ...
