Commercial truck insurance will protect your truck or trucks and make sure your business operations runs smoothly for as long as possible. There a lot of things you need to understand from meeting minimum legal minimum insurance requirements to saving money tactics that will enable you get a comprehensive coverage at a friendly cost. Here a few things that you need to keep in mind when you’re looking for a commercial trucking insurance.
Factors that affect the cost of a commercial truck insurance policy
There are a number of factors and risks that commercial truck insurance companies use to determine truck insurance rates.
1. Cargo
Commercial truck insurance Lake Charles companies will need to know the type of cargo your truck carries and its value to determine the cost of replacing the cargo in case of an accident that damages it. Special cargo and oversized loads will make the cost of the policy higher.
2. Driving status
Commercial insurance companies will determine the area you operate in. This will help them classify the policy into one of the following: local, intermediate and long-distance.
3. Route risks
Your policy price depend on the high volumes of accidents, crime, bad weather patterns as well as other area-specific risks. The place you park your trucks will also influence the price of your policy.
4. Vehicle information
The quality, age and model of a truck can affect the cost of the policy.
Getting a commercial truck insurance policy quote
The following is some information that will help you get accurate commercial insurance Lake Charles quote:
Driver’s License and history-
You will need your driver’s license as well as printed history for a policy. Additionally, they will help with quotes.
Insurance policy declaration-
This is the information including your name, policy expiration date, and location on the existing policy that will help an insurance company to determine a different policy.
Safety information-
The company would also want to know safety features in your truck.
Vehicle identification number-
A number that on the registration that will help with the quote.
Types of commercial truck insurance
1. Liability insurance
It is a mandatory form of insurance that covers damages caused by your trucks.
2. Non-trucking insurance
Non-trucking insurance is an insurance term that is used for different types of policies that covers trucks that are not transporting cargo. It covers accidents that occurs “off-the-job”.
Transporting hazardous materials?
Depending on the cargo’s classification, your coverage will be between $1 million and $5 million no matter the weight of your truck provided it carries cargo that falls under Class A and Class B cargo classification. Commercial truck insurance Lake Charles will cover dangerous materials beyond Class A and Class B with a $1 million minimum insurance coverage.
Saving money when getting a truck insurance
Commercial insurance Lake Charles for trucks is expensive because they are often targeted for theft. However, if you are honest, loyal and you pay upfront, you can save some money. You will also save some money if you use automated payments.
