1. Receipt Once per Year
Saving money on semi-truck insurance is as easy as making an annual payment. Although it may seem difficult to pay such a large sum all at once, most insurance providers offer significant discounts for paying annually.
Thus, if you pay yearly instead of monthly, you’ll save money. These discounts could save you 10% to 20% off your insurance quote, depending on your provider.
2. Excellent Driver Characteristics
It’s also crucial that a truck driver or trucking company with their sights set on a lower quote have a profile that shows them to be a safe and responsible driver. To begin, an individual’s driving history is a major factor considered by insurance companies.
If a truck driver has extensive experience behind the wheel of trucks and other commercial vehicles, the insurance company can offer them a better rate. Because of their lack of expertise behind the wheel, young drivers tend to be more reckless.
This could lead to higher premiums for insurance as well. If you run a trucking business, you might be able to get a better rate on your insurance if you hire drivers who stand out for their good character, experience, and ability.
3. Zero Safety Incidents Reported to DOT
Insurance rates for semi-trucks can be significantly impacted by their DOT safety records. There is information in these files that can be used to determine how well a driver followed FMCSA standards (FMCSA).
Selection (ISS-2) scores, fleet DOT safety ratings, infractions, and inspections are all part of this safety report. Insurance costs for trucks are much more expensive if they have been cited by the DOT.
In addition, some frequent violations of DOT regulations include 1) a driver lacking the proper credentials; 2) a vehicle that is not properly maintained; 3) a vehicle that has not been inspected as required; 4) a failure to test or investigate a driver’s drug or alcohol use; and 5) the unsafe and unlicensed transport of hazardous materials.