The cost of commercial trucking insurance

Becoming an owner and operator of a commercial freight truck is a large investment. Not only are you purchasing a giant vehicle, but you are also investing in your long-term future. Purchasing the right type of trucking insurance is a must. You must be able to protect your investment and yourself from various types of liability that could cause devastating financial loss if you are left unprotected. Working with a reputable agent will ensure that you have the coverage you need to keep your rig running smoothly.

Different Types of Coverage

Owning your rig requires maintaining the right type of trucking insurance at all times. Not only must you carry several different types of liability coverage, including general liability, primary liability, and non-trucking liability, but you must also include damage coverage for personal and public property, medical liability coverage, and uninsured/underinsured coverage. Covering your bases will protect you no matter the situations you may face. As a new owner, it’s important that you talk to fellow drivers as well as your insurance agent to ensure you get the right types of coverage.

Determining the Actual Cost

In some cases, trucking insurance can be as high as $18,000. While getting quotes is a great start, you will still need to calculate the amount of the deductible you want to pay, as well as how your deductible will affect the final cost of your monthly premium. Keep in mind any possible discounts. Remember that paying your insurance annually instead of monthly may lower your overall premium cost. Getting a great deal on your insurance may cost you in the long run. If something sounds like it may be too good to be true, you may want to avoid it because it probably is.

Know the Amount of Coverage You Need

Every state has mandatory insurance minimums that every vehicle owner must carry. The same is true for a freight operator. While carrying the state minimum is an option, it can leave you in a bind if you have an accident and the total cost of your damages and liability exceed the amount of coverage you purchased. Understanding the amount of insurance you need to be fully protected can be difficult. This is where working with a reputable agent can be very beneficial.

Find an Agent That Knows the Trucking Industry

It’s hard to get the answers you need from an insurance agent who doesn’t know the first thing about the trucking industry. Before you purchase your policy, make sure that the insurance agent you are working with is knowledgeable about the trucking industry and the many issues and concerns you may have as an operator. Owning and driving your own rig is a hefty challenge and carries a lot of extra responsibility. Find out which insurance agencies other truckers use and why. Schedule an appointment with a couple of different agencies and choose the one that you feel will be the best choice for you.

As a freight operator, your insurance coverage should always be a top priority. Talk to the team of professionals at Sausman Insurance Agency so you can work with an agent who specializes in insurance policies tailored to the trucking industry. Call and schedule your appointment today so you can guarantee you have the right policy in place before you make your first run.