Affordable Truck insurance from right stop insurance

Low cost commercial truck insurance

Insurance for the commercial trucks is one of the biggest expenses faced by the business enterprises. A too low an amount results in a major blow to the financial condition of the company in the event of a calamity and too high an amount can eat up a great deal of the savings which can be otherwise invested wisely elsewhere for better returns. So, going for the right amount that offers maximum coverage is inevitable for the company.

• As a primary measure, identify the type of insurance policies that are related to the business. While the primary liability truck insurance is made mandatory by the federal laws, the selection of the others are left to the discretion of the policyholder and the risks involved in the relevant business. The primary liability truck insurance offers shelter from the risk involved in the event of the damage or injury to the third party during an accident. The insurance coverage varies from $35,000 to $1,000,000 depending on the area, the year of the company in operation and the past records of driving. Legal provisions set by FHWA calls for the trucks over 10,000 gross vehicle weight to go for the $750,000 policy coverage. The other types of insurance coverage are non-trucking liability insurance, general liability insurance, workers’ compensation insurance, motor truck cargo insurance and physical damage insurance to name a few.
• Conduct a thorough research on the commercial insurance companies and evaluate the types of insurances offered by them, the premium charged, the discounts presented and the effectiveness of settlement of the claims in the event of a mishap. Resorting to online tools can make the comparison of various companies offering similar coverage easier and quicker. Care should be taken to take into account the speed of settlement along with the price charged by them for their services on various insurance coverages for ensuring maximum gain.
• The driving record of the driver of the truck, the history of the company and the condition of the truck, all have a voice in the definition of the premium to be paid. A clear driving history without any parking tickets, absence of accidents and the driving experience of the driver can lower the amount payable as premium. Enhancing the security features and the working conditions of the truck can pull down the cost of commercial truck insurance.

With the risks on the commercial truck accidents being higher, the proper selection of the insurance policy and the insurance company are vital for the sustenance of the business.


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