Driving a Truck and Insurance Responsibilities
If you are a truck driver, you know the importance of having insurance in place. Of course, it is illegal for anyone to drive without having insurance in place. When it comes to truck drivers, however, it is even more important to have insurance. In fact, you won’t be able to work for a trucking company if you do not have insurance in place. Or, if you drive for yourself, you will not be able to acquire any clients if you cannot demonstrate that you have insurance in place.
When an insurance company determines your rates, it will consider a number of different factors. Some of these factors are just like those that are used to determine insurance rates for cars, but there are a few factors that are special for truck drivers. Regardless of the factor, the main goal is for the insurance company to determine the probability that a loss may occur and that the insurance company will be responsible for paying those costs.
Among the many factors that the insurance company will consider when determining your rates include:
- Your age, or the age of the person driving the truck if you are a trucking company
- The years of experience the driver has with driving a truck
- The number of years the person has been employed by the company
- The driver’s driving record
- The number and type of accidents the driver has been involved in
- Where the driver will be driving
- What items the driver will be hauling
- The type of equipment the driver will be operating
- The amount of the deductibles that have been put into place
- Whether or not the driver has completed a safety program
- The company/driver’s Department of Transportation Safety Record
In general, a person that has been driving for a longer number of years and that is older will be able to enjoy less expensive insurance premiums. Similarly, a driver with a good driving record will also receive a lower insurance rate than someone that has been in several accidents or that has received many tickets.
The type of substance you are hauling will also have a direct impact on your insurance rates. Hauling hazardous materials or livestock, for example, typically results in higher rates than hauling non-hazardous or non-living objects. This is because an accident with hazardous materials can be quite costly to clean up and can cause more extensive injuries or deaths. The same is true when hauling live animals, though the cost of replacing the animals can also be considerable. At the same time, drivers that haul these items typically receive a higher rate of pay for their services, part of which can be used to help pay the higher interest rates.
There are many different insurance agencies that will accept truckers and trucking companies as their clients. Of course, if you are interested in obtaining insurance coverage, you want to work with a reliable company that will provide you with enough coverage to keep you properly covered but that will not cost you a great deal of money.
When you search for insurance agencies, you will need to compare a number of different factors in order to make sure you get the best deal possible. You should also ask the insurance company to tell you more about how you can get your rates reduced. For example, simply making it a policy that you will only hire drivers with at least ten years of driving experience can significantly reduce your rates. If you are ready to start shopping around for companies that will provide coverage to truckers, take a moment to complete our simple online form. It won’t take long to answer our questions, but your answers will help us match you up with the best insurance agencies around.