Trucking insurance premiums are high for many drivers because commercial trucks are expensive, potentially destructive, and more likely to be stolen than other vehicles.
But don’t fret! There are ways to keep your wallet fat while staying well-protected.
Here are 10 ways that may help you lower your trucking insurance premiums in Colorado:
- Shop around — To make sure you’re getting the best rate, you have to compare the costs of trucking insurance policies from several different insurance companies before settling on one. LSI Insurance Agency, Inc. makes it easy to shop for insurance because we’re independent.
- Increase your deductibles — An easy way to lower the price of your truck insurance is to increase your deductibles, which is the amount you pay toward damages before your insurance kicks in. Raising your deductibles will almost always reduce your premiums — just make sure you can afford to pay the deductible you select.
- Keep a healthy driving record — Make sure you consistently monitor your driving record and habits. Your insurance will most likely increase if you rack up speeding fines or traffic violations.
- Avoid collisions — Trucks are known for their size and weight. So, in a collision a truck will typically inflict more damage than other vehicles. By avoiding collisions, you can help keep your premiums low. When driving, make sure you go the speed limit, avoid tailgating, and are always alert.
- Pay in full — If you can, pay your insurance premiums up front and in full. Some insurance providers may offer a pay-in-full discount.
- Opt for an electronic transfer fund — Technology has created several advantages when it comes to finances. When you opt to use an Electronic Transfer Fund (ETF) the insurance provider takes the payments directly from your bank account, saving you from potential late fees.
- Protect your credit — If you improve your credit score you will be less likely to be targeted for risk by insurers. Insurance companies often make the argument that individuals with a low credit score are less careful drivers. The better your credit score, the lower your premiums may be.
- Choose safe resting stops — Where you park your truck, especially overnight, could help lower your cost of insurance. The riskier the area, the higher your premiums.
- Maintain your truck — The physical condition of your truck could really save you some dollars on your truck insurance. It’s important to take care of your truck, no matter its age.
- Write a safety policy — Insurance companies want to reduce risk. In their view, customers who write down their safety policies are more likely to drive carefully. In some cases, insurance companies will reward these customers with a lower premium.
By following these 10 basic tips, you may be able to say goodbye to high trucking insurance premiums, especially with help from LSI Insurance Agency, Inc. Contact us today or fill out our free quote form for help finding the best possible value on trucking insurance in Colorado.