Let us get some honest and frank advice on how to save money when taking out commercial truck insurance. To begin with, be sincere when stating the value of your truck. You can get quotes from different companies and need to compare them before committing to one. You will be asked detailed information on your vehicles and the driving histories as well. Making comparisons can help you come to some conclusions and know where to get the best cover at the lowest costs.
Your old company might try to offer you discounts to buy your loyalty, but you can always look for better deals within the same costs. One can go for a three-year policy that will keep the premium fixed for three years. Raise those deductibles to get cheaper insurance. But, increase only to the level that you can afford. After all, there is no point in increasing it if you are not able to pay. If you pay your insurance up front and avoid paying in installments, you could save at least 15% of the costs. Transfer the money electronically to evade overpriced checking fees.
Another good option is to insure all your trucks with one company and make some good savings. Most companies gladly lower the costs if one insures the whole fleet with them. Run a safety program on your vehicle and get sound advice from the insurer to save more on those premiums. He may also ask you to go for a written maintenance plan that could save you another 5%. This will reflect good on your part as it will signal the insurance company that you are serious about the safety and maintenance of your trucks.
Overstating the value of your truck is not going to help much, as the commercial truck insurance company will find the actual replacement cost and see if your truck is worth more or less. One can always get rid of the comprehensive cover form the older vehicles as this is not required. In case an insurance agent is visiting to make an inspection of the truck, one can spend some extra time sprucing up the truck and enhance its appearance. Remove any odd stickers and give it a wash so that it looks clan and new when the agent arrives.
Just keep the above tips in mind when looking for insurance for your tuck and try to get the best deal.