The best way to save on commercial truck insurance is to get quotes from multiple agents. We can connect you with up to three truck insurance agents who will compete for your business.
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Talk to Insurance Specialists in the Trucking Industry
When it comes to truck insurance, finding a trucking insurance specialist who can guide you through the options is key. Whether you’re looking to secure the right coverage or get the best rate, (or both!) asking the right questions and taking the right steps can make all the difference.
Below, we’ve combined the top questions to ask your truck insurance agent along with tips to find truck insurance agents in the first place.
Questions to Ask Your Truck Insurance Agent
1. How long have you been quoting trucking insurance?
Commercial truck insurance is much more complex than regular car insurance. Your agent needs to understand the unique risks you face and the coverage required to protect your livelihood. How many semi truck insurance policies have they written? Experience matters, and an agent well-versed in quoting 18-wheelers can make a big difference in getting you the right coverage. Of course, there are exceptional upstart agents too, so this is not an end-all question.
2. How much coverage do I need?
If you have your own authority, the minimum commercial auto liability coverage required is $750,000, but many truckers opt for $1,000,000. Discussing your coverage limits with your agent is crucial, as trucks can cause significant damage.
If you are leased onto a motor carrier, you will need physical damage and non-trucking liability or bobtail. If your agent doesn’t know what a leased on owner operator is… run!
It’s also wise to ask about truckers general liability policies and umbrella policies for additional protection in case of catastrophic losses. Talking about your coverage needs will give you a good feel for the agent’s knowledge of your business.
3. Do you offer broad form cargo coverage?
Different cargo insurance types—such as grain, lumber, livestock, hazmat, and cars—carry different risks. Most truckers end up with around $300,000 in cargo coverage, but there may be gaps. Ensure your agent understands what you haul and offers broad form cargo coverage, if pertinent to your operation, to avoid potential coverage gaps.
4. What are the main factors driving my premium?
Truck insurance companies assess risk based on many factors, including:
- Age
- Driving record
- Credit rating
- Years of experience
- Area of operation
If your quote seems high, ask your agent why. Understanding the factors driving your premium can help you make adjustments to lower costs when it’s time to renew. You might also catch incorrect information that’s artificially increasing your premium. We’ve often seen outdated SAFER info causing high quotes.
5. What are your payment plan options?
Paying your premium in one installment can often save you around 10% compared to monthly payments. Discuss payment options with your agent to determine the best plan for your budget and to potentially save money. Some agents assume you’ll pay monthly and won’t mention the paid in full discount.
6. Do you offer a combined deductible?
If you get into an accident involving your tractor, cargo, and another vehicle, separate deductibles can apply to each. A combined deductible ensures you pay only one deductible, regardless of the type of damage. A cheap premium is good, but when you actually need to use your insurance, a combined deductible will be a nice silver lining.
7. How quickly can you change my policy?
Some truckers haul different materials daily, depending on available loads, so it’s essential to have an agent who can quickly adjust coverage. Ask your agent how easy it is to reach them and make necessary policy changes. A slow agent will cost you!
8. How quickly can you provide a certificate of insurance?
Certificates of insurance are often required on short notice. Many agents have systems to provide certificates automatically. If your prospective agent doesn’t, consider looking elsewhere. Thankfully, many agencies have online portals where you can get certificates 24/7.
9. Do you have 24-hour claims service?
24-hour claims service is essential for over-the-road (OTR) truckers who may encounter accidents at any time. Make sure your agent provides this support. The faster your claim is handled, the faster you’re back on the road and earning.
10. What discounts are available to Truckers?
It might seem silly to ask, but insurance agents can be lazy or forgetful. They often work with several insurance companies, and those companies are always changing incentives. Asking your agent to double check for discounts could reduce your premium. For example, some insurance carriers will discount if you use their telematics or ELD device. Always ask to know all your options.
There you have it! These questions may seem like overkill, but the payoff of finding a top tier agent can be huge. For proof of this, check out our Trustpilot reviews. They are filled with stories like this:
“I thank God for this company. They connected with an agent, Mark, that really worked very hard to find me exception rates. In addition, Mark was very professional, kind, polite, honest, patient, and trustworthy. I had several agencies that contacted me and out of all of them he found me the best rates and saved me thousands of dollars all while providing exceptional service and coverage. I started with liability insurance and ended up getting workers’ comp and trailer coverage with them as well. Thank you, Mark!!”
3 Tips to Find the Best Trucking Insurance Agent
Now that you know what questions to ask. It’s time to find some truck insurance agents to talk to!
Finding an insurance agent who specializes in trucking and is a good fit for you and your business can be challenging. Not all agents have the expertise needed to understand the unique risks associated with commercial trucking. The time spent doing this will be well rewarded once you’ve found your ally! A good agent can be indispensable in helping you navigate insurance as you grow into a fleet.
1. Find Truck Insurance Agents
Start by:
- Searching online for agents who specialize in truck insurance. Try Googling “Truck Insurance Agent Near Me” or “Truck Insurance Agent in [your city].”
- Asking for recommendations from fellow truckers.
- Visiting industry forums like The Trucker’s Report.
You can also use our service to get connected with up to three truck insurance agents who will compete for your business, making the whole process faster and easier.
2. Get Quotes from Multiple Truck Insurance Agents
Once you’ve lined up a few agents, get quotes from each one. This not only ensures that you receive the most competitive pricing but also allows agents to compete for your business, giving you leverage to secure better terms.
3. Evaluate All the Information You’ve Received
Once you’ve gathered quotes and coverage details from various agents, it’s time to evaluate them thoroughly. Compare:
- The coverages offered
- The premiums quoted
- Consider how friendly and responsive each agent has been.
A good agent that you work well with can be a great asset to your business. Evaluate their overall knowledge and willingness to help. An agent who is approachable, quick to respond, and well-informed can make a big difference in your experience and confidence in your coverage.
The Best Agent = The Best Commercial Truck Insurance
Getting the right truck insurance coverage involves more than just finding the cheapest option. Asking your agent the right questions, researching your needs, and being diligent about comparing quotes can help ensure you’re properly protected at the best possible price.
A good truck insurance agency will protect your business at the end of the day! By using these questions and tips, you’ll be well on your way to finding the best truck insurance solution for your needs.
We will leave you with another review from a trucker that found a top tier agent with us:
“It has always been a horrible experience finding commercial truck insurance. I have even been sucked in by the worst of the worst. With HQ and the platform I used I felt like they took commercial truck insurance from the 1900s into [the future]. It was easy to see all my quotes in one place. I could easily see which broker was working hard on my behalf and which one was not. I felt in control and all with no pressure. They helped me find the right commercial truck insurance with little to no effort on my part.”
