There a number of contributing factors to the way in which commercial truck insurance premiums are determined.
These contributing factors can vary from one insurer to another but the general consensus is that in order to properly determine the risk factors associated with a commercial truck fleet, the age of the drivers, all of the drivers experience and employment history as well as any previous commercial truck insurance the company has had.
Of course there are also many other factors associated with the vehicles themselves, but all in all, in order to determine commercial truck insurance premiums, the fleet as well as the drivers are taken in to account on a business wide scale and not just independently.
Drivers under 35 or over the age of 65 are much more likely to get involved in a road traffic accident according to the statistics. This can be a difficult area for a company to manage, but there are some steps that can be taken to minimize any risks in this department.
Employing drivers who have more experience will obviously reduce the risk and should play a vital part in lowering any commercial truck insurance premiums. As well as experience, a drivers employment history will also be looked at closely to check on the history of any accidents the driver may of had with a previous employer.
Your insurer will almost certainly ask about your previous commercial truck insurance coverage history. If you have had long-term insurance in place, you will undoubtedly see your premiums reduce. If on the other hand you have there's no history of truck insurance for your company, you will probably end up paying almost double the cost.
The insurer will also take into account the driving area of the fleet which in most cases is the local city and surrounding metropolitan area as this will determine whether your fleet is operating in an area which is prone to more accidents. Different types of cargo also affect the coverage. If you are only hauling lumber as opposed to chemicals then you will obviously pay less in your commercial truck insurance premiums.
When deciding commercial truck insurance premiums, your insurance company will be interested in your vehicles age and its maintenance history. They will also look at the company's DOT record and they will consider the amount of deductible you are willing to pay.
These contributing factors can vary from one insurer to another but the general consensus is that in order to properly determine the risk factors associated with a commercial truck fleet, the age of the drivers, all of the drivers experience and employment history as well as any previous commercial truck insurance the company has had.
Of course there are also many other factors associated with the vehicles themselves, but all in all, in order to determine commercial truck insurance premiums, the fleet as well as the drivers are taken in to account on a business wide scale and not just independently.
Drivers under 35 or over the age of 65 are much more likely to get involved in a road traffic accident according to the statistics. This can be a difficult area for a company to manage, but there are some steps that can be taken to minimize any risks in this department.
Employing drivers who have more experience will obviously reduce the risk and should play a vital part in lowering any commercial truck insurance premiums. As well as experience, a drivers employment history will also be looked at closely to check on the history of any accidents the driver may of had with a previous employer.
Your insurer will almost certainly ask about your previous commercial truck insurance coverage history. If you have had long-term insurance in place, you will undoubtedly see your premiums reduce. If on the other hand you have there's no history of truck insurance for your company, you will probably end up paying almost double the cost.
The insurer will also take into account the driving area of the fleet which in most cases is the local city and surrounding metropolitan area as this will determine whether your fleet is operating in an area which is prone to more accidents. Different types of cargo also affect the coverage. If you are only hauling lumber as opposed to chemicals then you will obviously pay less in your commercial truck insurance premiums.
When deciding commercial truck insurance premiums, your insurance company will be interested in your vehicles age and its maintenance history. They will also look at the company's DOT record and they will consider the amount of deductible you are willing to pay.
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