If you own a business, you deserve full protection. Running a company takes dedication. If you’re investing your time, money and passion, you should make sure you have financial coverage.
Like most businesses, you’ll probably use cars, trucks or vans for day-to-day activities. Even if you’re transporting small goods, you’re still conducting a business activity. Buy a strong trucking insurance policy, but don’t assume you need to spend an arm and a leg on it. If you want to lower your trucking insurance premium, follow these three tips.
Tip One: Pick a Higher Deductible
If you make a claim on your plan, you’ll need to pay a deductible before getting compensation. Your trucking insurance deductible is an out-of-pocket expense. It pays towards your insurance claim, but it still requires you to use your own money.
If you pay a higher deductible on your policy, you can likely save money on your premium. By picking a higher deductible, you’re telling your insurance company that you’re willing to cover risks yourself. In the eyes of providers, this means you’re a responsible buyer they can trust with lower premiums.
Tip Two: Bundle Your Insurance Policies
A lot of insurance companies give discounted rates to repeat customers. If you already have business insurance, ask them if they’ll offer you trucking coverage at a lower price. Most insurers terms this as bundling your policies. It’s very common. It’s also a great way to reduce your trucking insurance premiums.
Tip Three: Pay Up Front
Many trucking insurance providers offer discounts for purchases made up front. Some companies even offer up to 10-percent discounts to customers who pay in-full. While paying for your premium in full sounds expensive, it often proves cheaper in the long run.
You should also ask about other types of business insurance policies. Even if they don’t reduce your trucking insurance premiums, they might come at a discount if you already have trucking coverage. When in doubt: Ask your agent.
Sometimes, timing matters the most. If you can save money by bundling policies, do so. If you can’t find a new, more affordable trucking policy right now, you might want to wait until it’s time to renew your existing policy. Stay in touch with your insurance provider. They’re here to help, and they’ll put your business—and your budget—first.
Contact us for a San Antonio trucking insurance quote at 888.380.9059.