Thursday, February 13, 2020

What affects the cost of a commercial truck insurance policy in the United States of America

Expect average rates to run in the thousands per truck. The cost of commercial truck insurance is determined using many factors that include:

Your operators’ driving history. A driver’s past records can affect premiums, resulting in higher premiums for operators with spotty records.

Your typical driving radius. Coverage for longer driving distances typically come with higher premiums. Interstate or long-distance drivers may see higher premiums than intrastate or short-distance drivers.

What you haul. The types of cargo you carry is factored into the cost of your insurance policy. If your freight includes pharmaceuticals or expensive art, among other non-typical freights, you’ll likely have to pay extra.

Your vehicle type. The value of your truck plays a role in your policy’s cost. A high-end truck with all the bells and whistles will cost more to insure.

Your ability to bundle policies. Buying separate insurance policies typically costs more that grouping your business’s coverage with one provider.

Finder Insurance