Can you believe that 2019 will be coming to an end very soon? With the end of the year peeking around the corner, you may be thinking about renewing a variety of things that exist in your life. There always seems to be things that need to be reviewed and renewed.
The type of renewal we are talking about may not be the type of renewal you are currently thinking about. Since commercial truck insurance occurs monthly, dependent on when the business was started, sometimes truckers may not give too much thought into the renewal process.
How much thought do you usually give your commercial or owner-operator truck insurance policy? Whether you are planning to renew your commercial truck insurance monthly or if you are always prepared to shop around, it is important that you speak with your current commercial truck insurance provider before taking any further steps.
There are several things you will need to focus on if you begin to contemplate making changes to your current insurance provider, including the fact that your insurance costs can become higher and that your policy can be canceled if you do not renew your policy. When truck insurance premiums increase it can be for a variety of reasons, including the following:
- The insurance rates are rising
- Your insurance premiums can increase if a claim is filed against you due to an accident
- If you have been involved in accidents or if you have been cited multiple times you can expect your insurance premiums to rise
- You can expect the cost of your truck insurance to increase if you have to carry goods are cargo that requires extra equipment because the cost of carrying the cargo will result in additional needed coverage
What will happen when you start receiving calls and emails regarding your renewal? What if you receive a renewal notice in your mailbox or email inbox? Does this mean you will now be left without any insurance moving forward? Will this prevent you from obtaining insurance again?
A non-renewal notice is not the same as receiving a notice that your commercial or owner-operator truck insurance has been canceled. Sometimes changes take place within the insurance company that will result in drivers receiving a non-renewal notice. On the other hand, if you failed to make payments on your insurance or if you had excessive claims, your ability to obtain more insurance can be negatively impacted.
We understand how difficult it can be to understand non-renewal and cancellation notices when it comes to insurance. For additional information on our insurance services and what we provide, please do not hesitate to contact us today. We also provide commercial truck insurance in Florida, South Carolina, Texas, Illinois, Nebraska, North Carolina, Iowa & Tennessee.
