Tractor trailer insurance – Large truck or tractor trailer are exposed because it has higher risk that are not typically faced by usual motorist. Since it carries so many equipment and load, the drivers and the motor carrier can be a victim of those criminals who are intended to steal the goods. Moreover, since tractor trailer containing heavy weight, there are many risks can happen such as vehicle blowing tires. Thus, you need tractor trailer insurance to address the problem.
Tractor Trailer Insurance: Requirements Needed
A little bit different from auto insurance, tractor trailer insurance requires it drivers to carry larger amount of insurance since there is higher value of loads contain in the vehicle. The insurance coverage must include liability insurance and cargo insurance.
Those coverages are not only functioned when the tractor is operated but it also function when the truck is not used or without a trailer.
The amount of money you should pay for the cargo insurance is varying and it usually depends on the products that being carried. There is also an insurance coverage called body injury and property damage which responsible to protect the driver and the property that is damaged in an accident.
Some state also requires bringing leased operator insurance for those people who lease a tractor to a motor carrier in order to give maximum protection.
You may need additional coverage for your tractor trailer but one thing for sure; you need to look at your budget. If you need more coverage, you will probably need to reduce your insurance premium rates so that it will be affordable enough for you to buy.
In the following explanation, you will know how to reduce the insurance premium so that you need to keep reading this post.
Ways to Reduce Tractor Trailer Insurance Premium
Although you have a good driving records and you have never filed insurance claim, but actually your tractor trailer insurance rates will increase each year and it seems that those situation is out of your hands. Fortunately, you can make a little effort to improve the chances of getting more affordable premium rates by doing several ways below.
First, it is essential to understand that your tractor insurance will be directly associated with your driving record. Thus, make sure to keep your driving record clean and make sure that you won’t keep ticket that following you due to your inability to control your driving in certain situation.
If you get one, make sure to minimize its impact and if it possible, you can ask a lawyer to address your problem.
Second, you must follow the rules because it is essential to keep everything organized. You must be familiar with roadside inspection because the trucking insurance companies make a regular check on your safety data so that they can estimate the amount of money you should pay for providing tractor insurance for you.
When the insurance company found out that you break the rules, they may charge you with certain fines because of your careless action.
Lastly, you should take a written safety policy because it will help you to handle those unexpected things like accident, substance abuse or another sensitive issue that may waste your time when you try to handle it by yourself.
The insurance company will happily write down the safety policies and as a result you will reward with lower tractor trailer insurance premiums by the company.