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Top 5 Tips: Reducing & Controlling Your Truck Insurance Premium
Hello everyone, Mike Lawrence here again from InsureMyRig.com, the premiere trucking insurance agent on the web. InsureMyRig.com is an excellent source for online trucking insurance information, as well as a provider of highly competitive trucking insurance quotes and fast, professional customer service.
Today I would like to offer my top 5 tips for reducing and controlling the cost of your trucking insurance premium which is a big annual expense that helps determine your bottom line profit.
Tip no. 1: Hire the best drivers you can find. Drivers, for many reasons, have the potential to positively or negatively impact you insurance cost dramatically. Good drivers with multiple years of commercial driving experience, clean motor-vehicle reports and excellent references are a great asset to your company. MVR is one of the primary tools that underwriters use to rate your company’s trucking insurance cost. Simply put the more violations the higher your insurance cost will be. Potential driver hirees that have multiple speeding violations, at-fault accidents or even more major violations needs to be judged carefully.
Tip no. 2: Keep your company equipment well maintained. The department of transportation has a duty to inspect your vehicle and that information is than made public. Higher that average out-of-service violations are a cause for concern from an insurance stand point, especially brake violation, excessive tire ware and load securement issues. Mandate regular inspections to the vehicles and develop a solid maintenance plan for your service people to follow.
Tip no. 3: Develop a culture of safety within your operation. A strong safety director or an owner who understands what is required out of motor-carriers by the government is essential. Someone in your organization needs to be an advocate for these regulations and enforce the penalties when the company’s standards are violated. Reward drivers who consistently pass inspections and don’t get violations and schedule regular mandatory safety meetings.
Tip no. 4: Utilizing tehnology can also asist you in lowering insurance cost. GPS units can direct drivers to find better and safer routes, low tracking chips can help avoid the unnecessary cargo losses due to theft, electronic log books will limit hours of service violations, speed governors can keep drivers obeying the speed regulation in the nation’s highways and electronic on-board recorders can help track unexpected and sudden driver behavior that are a cause of many major accidents.
And finally Tip no. 5: Hire an agent who understands trucking exposure. Many insurance agents stable in trucking risks, but only a few select agents around the country are truly trucking insurance experts. These agencies can put together a quoting packet that appeals to underwriters, can help explain your risk in the most positive light and can also approach many different insurance market to help you decide which insurance company fits you best. The experts at Roemer insurance and InsureMyRig.com have been specializing in trucking insurance for over 75 years and y Know we will do a great job for you. If you have any questions or are looking for a quote please go to www.InsureMyRig.com , from there you can browse our information, request a call online or email me directly. Thanks, and drive safe out there.
