How to Get Cheaper Insurance Quotes for Your Semi Trucking Business

Today, we’re focusing on how to get the most affordable insurance quotes for your new trucking company. Whether you’re in the initial stages of setting up your business or looking to optimize your insurance costs, we’ve got valuable insights for you.

Start Early:

You don’t need to wait until your business is fully established to start exploring insurance options. Even if you don’t have a DOT or MC number, or even a truck yet, it’s never too early to start. Our large database covers every make and model of truck you can imagine, allowing us to provide you with accurate quotes right from the start.

Getting Accurate Quotes:

If there are any details you’re unsure about or missing, don’t worry. We’re here to assist you in filling in the gaps to ensure you get the most accurate quotes possible. We quote from a wide range of companies to find the best match for your specific needs, including coverage options and timing considerations, especially as you approach the activation of your authority.

Customizing Coverage:

Understanding that your needs may change over time, we offer flexible coverage options. For example, if there’s a delay between activating your authority and actually hitting the road, we can adjust your coverages to save you money.

Routes to Starting Your Trucking Company:

There are mainly two paths when starting your trucking business. You might choose to age your authority or ‘cook’ your DOT number, allowing some time to build up your authority’s age before hitting the road. Alternatively, you might go straight into business, starting to drive as soon as your authority is active. We cater to both scenarios with tailored coverage.

Factors Influencing Insurance Costs:

Several key factors can significantly affect your insurance premiums:

  1. Your MVR (Motor Vehicle Record): Incidents on your MVR can greatly inflate commercial insurance costs. It’s crucial to know what’s on your MVR, as it will be required for compliance and can speed up the insurance quote process.
  2. Credit Score and Behavior: Depending on your state and insurance options, your credit can be a significant factor. Insurance companies often use a proprietary rating based on your credit behavior.
  3. Address Consistency: It’s essential to have consistent addresses across your business, driver’s license, and garaging location. Discrepancies can limit your insurance options and lead to higher rates.

Keep it Honest:

It’s vital to ensure all information is accurate and legitimate. Using someone else’s name as the financially responsible party for your policy, if they’re not part of your LLC, could lead to misrepresentation or fraud.

Vehicle Considerations:

Let us know about the truck you’re planning to buy, or even send us links to potential purchases, and we can provide quotes based on those specific vehicles.

Maximizing Discounts:

Many insurance companies offer various discounts, such as ELD and prior insurance discounts, which can be applied to both commercial and personal auto policies. Working with an agent can help you access these discounts, which might not be available if you go directly through an insurance provider’s website.

The Importance of Experience:

Having CDL experience can greatly influence your insurance rates. Most companies prefer at least two years of experience, with some even requiring three. As your business matures and your drivers accumulate experience, you can expect significantly lower rates.

Start a Quote

Getting affordable insurance for your trucking company involves understanding and optimizing various factors. If you have questions or need assistance, don’t hesitate to reach out. We’re here to help you grow your business and navigate the complexities of trucking insurance. Remember to like, subscribe, and check out our other resources for starting a trucking company. We’re dedicated to providing you with the support you need every step of the way.

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Categories: Box Trucks

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About the Author: Charles String

Our goal is simple; Help people start trucking companies, and keep them rolling. With my experience in transportation, I quickly decided to specialize in trucking insurance. It’s much more my speed and comfort zone: demanding, hectic, stressful…all the necessary ingredients to maintain my interests.