As an owner and operator of a semi-truck, you need a reliable business insurance policy to protect your investment. However, commercial insurance can be expensive, which is challenging for people who are just starting. Fortunately, many strategies will help you keep insurance rates manageable, a few of which are below.

How to Reduce Commercial Truck Insurance Premiums

1. Maintain a Clean Record

By being careful when you drive, you will prevent infractions that can cause insurance rates to increase. Speeding is a major concern for truckers, especially when traveling through states where the speed limits can change quickly. Some GPS systems can track speed limits and alert you when it switches, allowing you to adjust the speed, if necessary. Also, to avoid citations for hauling a load that’s over regulation, be sure to stop at weigh stations whenever necessary.

2. Purchase New Equipment

If you invest in a new truck with modern safety equipment, your insurance company will consider it safer than an old model. New trucks can have emergency braking systems, lane-departure alerts, blind-spot cameras, and other advanced features that protect you on the road. Your provider will account for all of these aspects, and you may qualify for a reduced business insurance premium. 

3. Take Safety Courses

Just like your previous history matters when calculating insurance rates, so does your safety record going forward. To get your commercial driver’s license (CDL), you’ll need to take courses based on the type of CDL you want. For example, a Class A license is necessary to operate a vehicle that weighs 26,001 pounds or more, while you need a Class C license to drive a vehicle hauling hazardous materials.

These courses contain information on the operation of your vehicle, driving laws, and other relevant insights to improve your skill as a trucker. Your CDL will be valid for eight years, at which point you must renew it. 

When seeking a commercial auto policy and other types of business insurance, the company you work with can also significantly affect the cost. As an independent insurance agency, Stautberg Financial Group in Cincinnati, OH, uses their relationships with numerous carriers to find affordable, dependable business insurance policies. And because they're a family-owned agency, you will receive high-quality customer service no matter your needs. Learn more about their commercial auto policies online. Call (513) 821-6300 to request a quote.