There are many factors that contribute to the way your commercial truck insurance premium are decided.



All insurers will look at these contributing factors in a slightly different way. There is a general consensus however that the main risk factors that determines your truck insurance premium is your age, the amount of experience you have driving trucks, plus your previous employment history.

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.

Obviously the more experience each of the companys drivers have the less of a risk they will be and therefore driver experience play a crucial role in the determination of COMMERCIAL TRUCK INSURANCE premiums. Along with this experience factor the employment history of each driver will also need to be accounted for as well as any accident history any of the drivers may or may not have.

The insurer will want to know about any previous commercial truck insurance coverage as this will help reduce the costs of the premiums. Just like in a passenger car, a history of maintaining insurance on a vehicle means a reduction in costs where as in the case where there is not history you may even find your company paying almost double in the cost of premiums.

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.

In the determination of commercial truck insurance premiums, the insurer will also take into account the vehicles themselves. This can include their ages as well as maintenance records. Lets not forget the DOT history of the company as well as the amount of deductible your company is willing to pay in order to make a claim on the policy.