What is affecting your truck insurance price?

What is affecting your truck insurance price?

December 08, 2022

Trucking Insurance is one of the challenging industry from every aspect. Post Covid, this industry has been experiencing several issues from Truck equipment to Driver’s shortages. Besides, truck companies are also facing rising insurance premium impact. Being in the trucking industry, it is important for truck drivers and Companies to understand what exactly influences the premium cost. Some of the factors are:

  1. Motor Vehicle Record/Driving History: Anything from minor tickets to at fault accident can cause the insurance premium to increase significantly. Companies should be mindful of the driver’s MVR before hiring to keep premium reasonable.
  2. Routes Travelled: Truckers route that they travel is imperative in determining the premium. Long haul drivers with unlimited radius will be paying more than driver driving 300-mile radius.
  3. Cargo: What cargo you as a Motor carrier carry is vital in controlling the premium. Cargo that is hazardous will cost more as it is riskier and thus the premium will be higher.

Understanding trucking insurance and premium can be baffling. However, it is important aspect that trucking business should look in to control their overall cost.   

Our company understand what it takes to run the trucking business and our licensed agents are knowledgeable and experienced about the trucking industry. Contact us today and we can help you get affordable trucking insurance.