Some people doubt the possibility of lowering the cost of commercial truck insurance in Texas. We are here to assure you that in Texas, you can reduce your commercial truck insurance costs. We will also show you some tips for lowering the premiums you pay for your commercial truck insurance policy.
Truckers insurance premiums are costly because trucks are also costly, more likely to be stolen, and potentially destructive. Here are tips you can use to reduce your monthly truckers insurance premiums:
Hire Experienced Drivers
Experienced drivers are less likely to cause accidents than young, inexperienced ones. Your commercial truck insurance provider considers the age of your drivers when determining your monthly premiums.
Consider the Driving History
No matter how loyal and hard-working your drivers are, their history determines the cost of your commercial truck insurance. Past convictions for drunk driving, having a claim on their car insurance policy, or a history of being ticketed for over-speeding will lead to higher premiums.
If you must have such a driver in your team, get them a separate insurance cover. That way, you will pay higher premiums for the specific drivers with a bad history and save on those with clean driving licenses.
Practice Safe Driving
Trucks are heavy and big. When they cause an accident, they cause more damage than other vehicles. Truck accidents raise the risk factor of your vehicle and driver, raising the cost of your truckers insurance.
If you are an owner-operator, practice safe driving by remaining focused on the road, keeping to speed limits, and avoiding tailgating to lower your owner operator insurance. If you have drivers, train them on safe driving practices.
Track Your Compliance, Safety, Accountability (CSA)
FMSCA uses CSA to identify high-risk drivers. The higher your Compliance, Safety, Accountability score, the higher your risk score is. That means you will be charged higher premiums because you have a higher risk of causing an accident with your truck.
Employ safe driving practices to keep your CSA score low. A low CSA score protects you from driving practices interventions that may further affect your profile.
Dispose of Old Trucks
Your old semi-trucks require more maintenance and are considered high-risk vehicles. They are more likely to cause accidents than new trucks. Avoid operating old semi-trucks to lower your truck risk factor and reduce your semi-truck insurance premiums.
However, even your new trucks may cause accidents if they are unmaintained. Keep your trucks in good condition regardless of their age to save on your semi-truck insurance.
Split Up Your Routes
If your drivers are on the road for long hours, delivering to distant destinations, they have a higher risk of causing an accident. The length of the routes they travel determines your insurance premiums.
Consider splitting your routes to reduce the time a driver is on the road. Split the routes by allowing the driver to have stopovers along the way or engage relief drivers on long trips. This will save you some money on your trucking insurance.
Select Your Resting Places Keenly
Truck theft rate is high. Besides, you usually carry high-value goods that thugs may target. Selecting your resting places keenly keeps the goods you are hauling and the truck safe.
If your trucks are safe and the risk of losing your cargo is low, you will pay lower commercial truck insurance premiums. Choose your resting and overnight stopovers when not hauling also lowers your bobtail insurance.
Rely on Alarms, Immobilizers, and Tracking Systems
An alarm and immobilizer system can act as a deterrent for thieves targeting your vehicle or the cargo you are hauling. The alarm notifies you whenever an unauthorized person tries to handle the truck.
This could be someone trying to enter the driver’s cabin to drive away with the truck or rig or open the trailer to steal your cargo. Some people target stationary trucks to vandalize them.
Your alarm will prevent this while the immobilizer ensures unauthorized people don’t drive the rig or truck. With this, your truckers and rig insurance costs reduce.
A tracking system helps you track the location of your truck. It ensures the driver keeps to the set route.
You can use it to evaluate the performance of your truck drivers. Installing these security features on your trucks helps you save on your insurance premiums.
Install Cameras
Ever heard of crash-for-cash scams? Some road users are on the road to make a kill from stage-managed accidents when they claim compensation. Texas State is ranked 4th nationally for stage-managed crashes or crash-for-cash scams.
Crash-for-cash frauds are well-orchestrated, with people planted to give false eyewitness accounts and false victims to prove there were injuries. The syndicate may include fake doctors to give overrated medical exam results.
Have a camera on your dashboard to record events on the road to counter fraudulent claims that you caused a crash. If you haven’t installed a camera, quickly record the alleged accident scene. The police may pick up something to show the car crash is stage-managed.
Pay Your Premiums on Time
Your insurance provider may penalize you for paying your premiums late. To avoid this, ensure you pay on time. Some insurance companies give a discount if you pay up-front or in full. Lower the cost of your truckers insurance by taking advantage of such discounts.
Pay Higher Deductibles
Deductibles are the amounts you pay to cover damages that may arise before your insurance policy kicks in. When you raise your deductibles, your premiums may decrease. The more deductibles you pay, the lower your monthly premiums will be.
Shop Around For a Credible Insurance Company
Credible commercial truck insurance companies like J.E.B Insurance Services are transparent in their charges. Get quotes from several companies and interview them to gauge their credibility before accepting to take a policy for your trucking company.
Insure with One Company
If you insure your entire fleet with one company, you may get lower premium rates. Most insurance companies lower the premium rates as you insure more vehicles.
This will also help you keep better records of payment schedules to avoid missing your payment dates. If you are taking other insurance covers in addition to your commercial trucking policies, insuring with the same company may earn you huge discounts and reduce your overall insurance cost.
Are you looking for a trucking insurance company in Texas? Contact J.E.B Insurance Services. At J.E.B Insurance, we provide a full array of truck insurance coverage. Call us today for a free quote. We write commercial truck insurance in Florida, Georgia, North Carolina, South Carolina, Tennessee, Iowa, Nebraska, Texas and Illinois.
