How To Lower The Costs Of Your Commercial Truck Insurance As An Owner/Operator Trucker

When you are the owner of a commercial vehicle because you are an owner/operator truck driver, getting the proper insurance coverage is of the utmost importance. Unfortunately, when you obtain insurance on a commercial vehicle, you are basically covering apiece of your business. Therefore, you can be facing rates that are a little higher than what you are comfortable with paying. Just like regular vehicle insurance, there are some things you can do to help you save money on your premium. Take a look at some of the ways you can keep the costs of your commercial truck insurance low for your owner/operator trucking business. 

Opt for electronic payments. 

One of the easiest things you can do with just about any form of insurance to get a discount is to sign up for automatic electronic payments. Electronic payments make it easier for the insurance company to handle billing processes because there is no need to worry with payment reminders through the mail, handling checks or money orders, and other things that can take up company time. You can usually opt to have your premium payments deducted from your bank account monthly or sign up for recurring payments on your credit or debit card. 

Pay your premium for the full term of the policy. 

If you really want to reap some savings on your commercial truck insurance, consider paying for your policy premium fully in advance instead of signing up for monthly payments. When you make one bulk payment for the entire term of the policy, it makes things super simple on the insurance company because they don't have to process all those extra payments, so they will offer a discount for that reason. If you cannot afford to pay for the full policy in advance, see if the insurer offers quarterly payments or payments every other month as this can also fetch you a discount. 

Bundle other insurance products with the same company. 

If your current insurance provider does not offer commercial truck insurance and you have to go to a different company, it can be worth it to also get your other coverage at the same place even if you have to transfer. Most places will offer a discount for commercial truck insurance if you also purchase other policies, such as renter's insurance, homeowner's insurance, or regular automobile insurance through them. Even though personal and business insurance is entirely different, there is no harm in getting personal and business insurance through the same provider to save some money.