Insurance companies look at a lot of different elements of your business in order to finalize the offered premiums. Many of them, such as your company’s history, the types of trucks you drive, and the types of materials you tend to transport, are expected. But there are a few surprising factors that could be impacting the monthly price tag, such as:
How well did your drivers perform both during and before employment with your company?
Drivers are a huge variable in your insurance because their response time and adherence to safety requirements play a large part in preventing accidents on the road, as well as damaged equipment. While you might have anticipated that insurance companies look at how well your employees have performed during their current employment, sometimes insurance providers go back further in order to get a more comprehensive look at the risk they represent.
How far away are your trucks driving?
The number of miles each truck drives over the course of a month or a year isn’t the only factor. A truck that has several small and localized routes is less of a risk than a truck that travels across the state or the country, even if they drive the same number of miles in the end. This is because longer routes have different risks, such as driver fatigue, altitude changes, and increasingly unfamiliar roadways and regulations. Other factors, like the type of road and the traffic density, can also play a part.
Are you bundling, or is each policy separate?
There are countless different ways to organize your insurance. Some companies have different policies for each separate truck, especially if there is one dedicated truck for hazmat deliveries, and other companies have different policies for the different elements of liability and physical damage. But using one provider for all of the semi-truck insurance, even if you have underlying divisions and specifications in the plan, is often a better deal. Go to J.E.B. Insurance Services, LLC. to see what premiums could be. We provide commercial truck insurance in the states of Florida, Georgia, Texas, North Carolina, South Carolina, Tennessee, Illinois, Iowa & Nebraska.
