When it is time to purchase insurance for your commercial truck or commercial trucking service, there are a couple of factors that can help you determine which insurance company will be best able to suit your needs. Take these factors into consideration as you shop around for commercial trucking insurance.
The Size of the Agency
Larger insurance agencies may be able to offer lower prices to their customers. Insurance is all about risk. The more people who share in that risk, the less each of those people have to pay in, and the less the agency needs to charge. A small, local insurance agency may need to charge more because they have fewer clients to help share the risk and need to make sure that they have enough revenue to cover their operating expenses (e.g., salaries, overhead, claims payouts, etc.).
The Focus of the Agency
An insurance provider who specializes in covering commercial vehicles may be a better fit for your company. Agencies who offer many different types of insurance to many different types of customers may not have the expertise that it takes to provide truly comprehensive coverage for commercial trucks.
At the same time, because a provider covers more various types of vehicles and other property, they may be able to offer lower costs to you and your company because they have more people paying into their system and sharing the costs of the risk.
Deductibles and Premiums
This aspect of purchasing insurance is one of the most critical. Check out the highest deductibles and premium rates that the insurance carrier has to offer. Don't be lured into an agreement because one of the other of these fees is extremely low.
For instance, a dirt-cheap deductible may sound great, but if you are going to be paying 4 times as much each month than you normally would, you aren't really saving much (if any) money.
Still, if your monthly payments are ridiculously low, but your deductible is extremely high, you are not getting a good deal. Make sure you find a company that can offer you rates that are balanced and reasonable for deductibles and monthly premium payments, not just one or the other.
Once you have taken all of these factors into serious consideration, you can make a short list of insurance agencies that you believe will best fit the specialized needs of your commercial trucking company. For more information, take a look at sites like http://www.truckwriters.com/.