When you're a truck driver, your livelihood depends on your truck. To make sure your truck is well-protected, you need to keep it properly insured. Not only that, but adequate commercial truck insurance will also protect you, in the event of an at-fault accident while you're on the road. However, you also need to make sure that you're paying a good price for your insurance. The last thing you want is to waste money by paying too much for your insurance policy. Here are four ways you can ensure lower premiums while keeping your coverage at the proper levels.
Get All the Available Discounts
If you haven't been taking advantage of the discounts that your insurance company offers, you may be paying too much for your coverage. Insurance companies don't always tell you about the discounts, which means you need to take a proactive approach and ask about them. If you're not sure what discounts are available to you, contact your insurance agent and have them take a look for you. Make sure you take advantage of every discount that's available to you. If additional discounts would be available to you with additional safety classes, go ahead and take those classes. You'll receive additional training, and reap the benefits of lower insurance premiums.
Put Money in Reserve for a Higher Deductible
If you've been keeping your deductibles lower, you may be spending too much money for your insurance. You might not realize this, but raising your deductibles can save you quite a bit of money on your insurance premiums. This is a good way to go if you have a good driving record. If you're worried about the increased deductible should you be in an accident, set some money aside in a reserve account . The reserve account will allow you to take care of the deductible should the need arise.
Work on Your Credit Rating
If your credit rating has taken a hit over the past couple of years, it's time to clean things up a bit. Cleaning up your credit report, and raising your credit score will help lower your insurance premiums. Once you raise your credit score, ask your insurance company to conduct a re-determination on your premiums. With your new credit score, the price of your insurance policy should go down.
Keep Accurate Safety Records
When you're a truck driver, you know that accurate safety records are crucial. However, you might not realize that those safety records can also help reduce the cost of your insurance premiums. When you're shopping for truck insurance, be sure to provide your safety and maintenance records.