Are you looking for ways to keep your South Carolina owner operator insurance premiums under control?
Owner operator commercial truck insurance rates are usually high to begin with because your rig is costlier than your average automobile and it also carries valuable cargo. Because commercial trucks are so large and heavy, they can cause extensive damage to property and to other vehicles on the road. In addition, the odds of causing injury and possible fatalities in an accident are higher than for the driver of an automobile. Because there is so much more at stake, owner operator truck insurance premiums in South Carolina tend to be high.
However, there are things that the commercial truck owner operators in South Carolina can do to keep their rig insurance rates from getting any higher and there’s a good chance he’ll be able to reduce them.
- Look after your driving record – Your driving record has a big impact on your owner operator insurance rate in South Carolina. A truck driver with a poor driving record is considered a high risk by the South Carolina insurance companies. The only way they can insure these types of drivers and stay in business is to increase their premiums. Speeding or driving to exhaustion increases your risk of getting traffic tickets and getting involved in an accident. Therefore, it’s in your best interest to drive within speed limits and to focus on not getting traffic tickets of any kind. Rather than speeding or driving excessive hours to deliver on time, do more planning.
- Comply with DOT and FMCSA rules – In order to get a good assessment of your risk to them, owner operator insurance companies in South Carolina will look closely at your safety data. Know your DOT and FMCSA rules and make sure you are in compliance with every one of them.
- Make larger payments – Find out from your South Carolina truck insurance company if they give a discount for biannual or yearly payments. Although smaller monthly payments are easier on your cash flow, it often comes at the price of a higher premium which costs you in the long term.
- Increase your deductible – Another way of reducing your South Carolina truckers insurance is to assume more of the risk by increasing your deductible. This is the amount of money paid out of your pocket before the insurance policy kicks in. Make sure you can cover it. One way of doing this is to keep the amount in a savings account with a good interest rate.
- Look around for better rates – Not all South Carolina insurance companies are created equal. If you feel your owner operator insurance rates are excessive, take the time to do some research. The more South Carolina truck insurance companies that you check out, the better the odds of finding more fair and lower rates.