Driving Record (Tickets, Accidents, and Number of Violations)
Every driver is different. Every driver has different tickets and violations on their commercial driving record. The more violations that you have the more you can expect to pay for your commercial trucking insurance. The most expensive violations are moving violations and at fault accidents. So keep your driving record clean and make sure to talk to you agent about any new drivers that you are thinking about hiring. Most truck insurance agents run driving record before you hire them to ensure that they won’t make the cost of your coverage increase.
Driver’s Age & Experience
Every driver has been driving their commercial auto for different amounts of time. Those that have had their commercial drivers’ license for 3 years and more will get the biggest discount. It they have more than 3 years of experience, they can often get cheaper commercial truck insurance quote.
Location of Operations
This can be a big deciding factor in commercial truck insurance quotes of how much you pay versus the next trucker. If you park you trucks in one city, you could pay significantly more than your neighbor who parks his trucks in zip code that is adjacent to yours. Ensure that when you are looking for a new place to park your truck that you check with your insurance agent first. You could potentially save hundreds with this tip alone.
Radius of Operations
It is calculated by air miles i.e. using your garaging address as a starting point. Depending on how far you driver away from your garaging address, the majority of the time will determine what your operating radius is to decide the final commercial truck insurance quote. Know what the furthest city is that you drive to haul a load or do a job.
Commodities Being Hauled
Be careful when considering what loads you will haul or transport. Alcohol, electronics, new automobiles, and hazardous materials are some of the most expensive to get coverage for. Be sure to double check the amount that you will get paid for hauling these types of loads before you take the job. You may end up paying more in commercial truck insurance quote just to cover your load then you will get for the job.
It is proprietary score calculated by each insurance company differently. Almost all of these scores are somewhat related to your credit score. Research shows that your credit score is an indication of how good of a driver you will be. You will get higher commercial truck insurance quote if your financial responsibility score is low.
Amount of Physical Damage on Listed Vehicles/Age of the Equipment
How old your equipment is and the amount of physical damage coverage that you purchase can also affect how much commercial truck insurance quote you get.
Previous Insurance History
You can also get additional discounts depending on these factors. Ensure to discuss them with your truck insurance agent and how you get as much discounts as possible.