Truck Accidents: Common Causes and How Truckers Can Prevent Them
Your company’s insurance is one of the most essential items to have in place for your trucking business. Numerous variables, some within your control and others beyond your control, can have an ultimate impact on the cost of trucking insurance. Your company’s trucking insurance rates are in many cases influenced by these five factors.
Driving Records
Now, in order to calculate the contractor’s insurance premium rates the firm will pay, the driver’s employment history and driving history prove to be crucial.
Your company will save money if all drivers have clean records. DUI convictions, excessive speeding, and running stop signs are some major red flags. Consequently, you end up paying higher premiums if your drivers have these issues.
Truck drivers with prior trucking industry experience and those who have logged significant service time are viewed as more reliable workers since they have minimal employment gaps and are more likely to be skilled at handling equipment. Therefore, if your team upholds this type of record, it’s a win-win for you (due to lower premiums) and for them (because of employment stability).
Location of Operation
The amount of insurance coverage you have on your trucks depends on the state in which you conduct business and your choice of trucking insurance companies. In comparison to other states, some mandate more coverage than others. Additionally, the mileage your truck’s log can affect your charges. The premiums can increase in proportion to the daily mileage.
The routes that trucks take, in addition to the state you operate out of and the typical daily mileage of a truck, might affect insurance rates. If your trucks travel on roads that are known to be risky or dangerous, you might pay a higher premium. They may be considered unsafe or dangerous depending on the weather, population density, road conditions, and type of terrain you are traveling over (for example, mountains vs. plains regions).
Age and Condition of the Truck
The amount of insurance coverage you have on your trucks depends on the state in which you conduct business and your choice of trucking insurance companies. In comparison to other states, some mandate more coverage than others. Additionally, the mileage your truck’s log can affect your charges. The premiums can increase in proportion to the daily mileage.
The routes that trucks take, in addition to the state you operate out of and the typical daily mileage of a truck, might affect insurance rates. If your trucks travel on roads that are known to be risky or dangerous, you might pay a higher premium. They may be considered unsafe or dangerous depending on the weather, population density, road conditions, and type of terrain you are traveling over (for example, mountains vs. plains regions).
History of Previous Coverage
If you’ve ever had a policy, the history of payments for that policy, and if it was canceled will all be thoroughly investigated by your insurance company. In case there was a cancellation, they would also look into the reasons.
The insurance provider may charge you a higher premium if the reason is your inability to pay on time.
A poor credit score can also affect your premium cost in addition to the above. Pay your monthly bills on time and credit card debt if you want to raise your credit score and, as a result, reduce your chances of receiving a high premium. Additionally, you can immediately bring the account current.
Maintenance and Out of Service
Keeping your vehicles in good condition may save downtime, increase response time in case of accidents, and avoid DOT fines. Truck maintenance plans that are timely and enhanced will benefit trucking operations’ truck insurance rates and reduce instances of liability insurance.