Reader question:

I’ve been saving up money for awhile because I know it’s really lucrative to be an owner operater in the truck driving business. What kind of coverage can I get through a commercial vehicle insurance company?

Roscoe

If you work on wheels, you gotta have that coverage.

Owner operators are some of the business people that get the most out of their car insurance policy because it is as important to them as house insurance is to someone who is trying to sell real estate. If you get in an accident with a commercial vehicle, that can cause a lot of problems, not the least of which could be loss of goods and the injury to your person. If your truck is destroyed, there goes your source of income. This is why truck drivers have no excuse to skimp when it comes to taking out a policy from a commercial vehicle insurance company.

How do you get the right kind of coverage for your commercial truck? Like this:

• You have to decide what is more important to you and what you can afford. If you are able to take higher premium costs, by all means, go for it, because getting a high deductible could put you seriously back in regards to finances. Deductibles for commercial trucks are much higher than they are for standard vehicles.
• Put your deductibles together. If you aren’t with a company that does this, find one that does. By combining your coverage for your truck, the trailer on the back, and whatever it’s carrying you can save a lot of money on your insurance annualy.
• Insurance is more than the quote. When you’re getting insured for something as important as your business, you might have to accept slightly higher rates in exchange for an agent or company that you can put your trust in.
• Be aware of your options. Commercial vehicle insurance can be got through the trucking company you work for, the finance company that is financing your truck’s lease, and even a trucking association.

Cheers,

Fashun Guadarrama.