Tips To Use When Buying Commercial Truck Insurance

As an independent truck operator, you know that it's necessary to cut costs where you can, but you never want to risk your livelihood in the process. That's why it is so important to take your time and make good decisions when you're choosing your commercial truck insurance.

Here are some tips that can help you with the process.

Get Your Information Together Before You Make Your Calls

You can't get an accurate quote when you're shopping for insurance without giving the insurance companies all your information. You need to have on hand:

• Your current insurance policy's information, particularly the declarations page
• Your driver's license information
• The VIN (vehicle identification number) from your vehicle
• A list of any traffic violations you've had, including the dates
• The approximate value of your vehicle

You may be able to get quotes without some of this information, but they'll only be estimates -- which isn't really what you need. Also, be sure not to overestimate the value of your vehicle -- that could increase your insurance costs unnecessarily.

Ask Plenty Of Questions Before You Commit

You can expect some pressure to sign up right away when you're asking for quotes, but your wisest move is to ask a lot of questions and shop around. Here are some questions that you need to ask:

1. What are your choices of deductibles?

Taking a larger deductible will reduce your premium but could stick you with a large bill in the case of an accident, so you have to balance your risk out against your savings.

2. What will you save if you pay your insurance premium yearly?

Paying your insurance monthly is usually much more costly than paying it all at the start of the year. There may also be a benefit to paying every six months, which could be more manageable.

3. Can you insure your private vehicle with the same company?

If the company will provide coverage for your private vehicle, you may be able to claim a multi-car discount.

4. Do you get a discount if your vehicle is stored in a locked area?

Some trucks are exposed to the street or stored in high-risk areas -- which exposes them to more possible damage. If your vehicle is kept under lock and key when you aren't on the road, that might gain you a cheaper rate.

Once you have made your calls and have the figures you need, it's important not to simply take the cheapest offer -- especially if it's very low. An exceptionally low offer might indicate that the quality of the commercial truck insurance isn't what you need. Spend some time reviewing the coverage options you've uncovered before you make your final pick.