Let’s face it, commercial trailer insurance premiums are expensive. They represent one of the biggest monthly costs to your trucking operation after paying for fuel and equipment financing. Anything that can be done to lower the premiums of truckers insurance will go straight to improving the business’s bottom line. We are going to take a look at how to reduce commercial trailer insurance premiums, so that you have a chance to save money and grow your company faster.

Why Trailers?

One of the first things that you can do to improve an insurance quote is let the insurer know that you are working with quality equipment. Well built trailers that are maintained correctly have fewer breakdowns and a lower likelihood of causing an accident. This is true for most major trailer manufacturers, but there are always exceptions.

Talk to Several Insurance Brokers

Make the insurance companies and agents work hard for your business. To keep the confusion down to a minimum, ask for quotes for the same type and amount of coverage. This will give you a base line to work with when the different trailer insurance quotes come back. Also, ask them what type of insurance that they recommend for your type of trucking business. This can help give you an idea as to whether you are paying for adequate coverage or leaving yourself open to financial risk.

Talk to Others in the Trucking Industry

You can’t expect an insurance agent to say something bad about their company, which is why you need to speak with other truckers to find out who is credible. Ask them what their experiences have been with the insurers. Did they pay claims quickly? Did they drop their coverage or drastically raise their rates for any reason? You do not want to pick cheap trucking insurance only to find out that your claims go unpaid or your premiums skyrocket after an accident.

Reduce Your Premiums Over Time

While it is important to get the best coverage you can afford, it is also important to keep looking for ways to reduce that cost of insurance as each year goes by. This means that you need to shop around for insurance on an annual basis to make sure that you are still getting the best rates. Proof of years of a clean driving record can earn you bonuses with your insurance agent, but they might not tell you unless you ask. Good credit is also an indicator to insurers as to how safe you are, so getting your business and personal finances in order can lead to lower rates.