How to Save Money on Commercial Truck Insurance in california

There are some key do’s and don’ts for saving money on your insurance, but perhaps the best piece of advice is to be honest (regardless of how tempting it might be to overstate the value of your truck, or ‘forget’ a speeding conviction).

• Get quotes from several companies before you commit to one, and give each of them as much information as you have about your driving histories and your vehicles.
• Shop around for insurance over the course of the year, but not too much. Many companies appreciate your loyalty with discounts, so there’s no point swapping companies every few months for the sake of $20 a year.
• Ask for a three-year policy, which will fix your premium for three years.
• Increase your deductibles, or “voluntary excess”. The larger your deductibles, the cheaper your insurance will be – but remember you’ll have to pay it in the event of an accident or theft. There’s very little sense in increasing it if you can’t afford it.
• Pay your insurance up front at the start of the year, rather than paying in installments. This could save you around 15%.
• Pay by electronic money transfer to avoid costly checking fees.
• Insure all your vehicles with one company and reap the benefits. Most insurance companies give discounts or incentives to people who insure their whole fleet with them.
• Run a safety program. Ask your insurer for advice on how to put one together for your business, and you could save more than 10%.
• A written maintenance plan could save you around 5%, just because they know you’re serious about looking after your vehicles.
• Some truckers overstate the value of their vehicles in the hope that they will get a good deal if anything happened to it. That isn’t how it works – your insurance company will see how much it would cost to buy a similar replacement. If you say your truck is worth more than it is, however, you’re likely to pay over the odds for your coverage.
• Remove comprehensive cover from some of your older vehicles. This cover isn’t needed and might be costing you more than it’s worth.

Top Tip – Giving off a Safe Image Pays Dividends

If you’re facing a visit from an insurance agent, it’s prudent to spend some extra time sprucing up your truck before an inspection.

Your semi may not be the most infallible vehicle on Earth, but even simple things such as ‘Fire Extinguisher Inside’ stickers and getting rid of the old McDonald’s wrappers from the dash can enhance your appearance as a conscientious driver. In turn, this could subtly influence the agent inspecting your vehicle to offer lower insurance prices.

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