Truck on the RoadThere are a variety of factors that are calculated to determine the premium of a truck insurance policy. These factors are used to determine the probability of an accident or financial risk, involved in providing a drivers' truck insurance. A driver can influence a decrease in rate for a lot of these factors, such as history of accidents, while other factors, such as age, the insured person can't control.

Truck Driving Experience

Experienced truck drivers pose less of a risk factor and will help lower their truck insurance rate. Truck driving experience with different equipment and weather conditions are inherent in the number of years that a trucker has been driving similar types of rigs.

Age of Operator

Statistics tell us that truck drivers that are very old and very young are more prone to accident. For this reason, these high risk age groups will have truck insurance premiums that are higher. The preferred age of drivers are between 30 and 65.

Accident History

A driver who have had accidents in the past are prone to having accidents in the future. For this reason, the less violations and accidents a truck driver has, the less their truck insurance premium will be.

Previous Insurance Coverage

Truck insurance providers may ask if you have had insurance coverage previously. If you have previously been cancelled for non-payment of premium or for underwriting reasons, the potential insurer will want to know. The previous insurance carrier can inform the new insurer of your loss history.

Years Operating In Name

Similar to newly employed drivers, a newly operating trucking company is more likely to have the added burdens of business growing pains. As the management operations, safety programs, drivers, adherence to regulations, matures, the frequency of loss is more likely to decrease.

Driving Area

The different routes a driver has can have an effect on their truck insurance premiums. This is because of the average road conditions and infrastructure, weather during the different seasons, population density, and so on.

Employment History

The number of years that a trucker has worked for different companies is taken into consideration as an experience factor. There is less chance of an accident if the driver is more familiar with specific routes and equipment.

Truck Cargo

The type of cargo a trucker carries will also affect their truck insurance rate. Cargo Insurance is based almost entirely on: cargo value, potential for theft, delivery time sensitivity, etc.

Equipment Operated

The age, conditiona nd value of equipment operated are a determinant in truck insurance premiums. However, the age of the rig is often irrelevant as the truck's condition is dependent on upkeep, as well as recently installed equipment.

Deductible

The deductible is the amount of damage or loss that the insured party is responsible for when there's an insurance claim. The greater the deductible the less the truck insurance premium will be.

Safety Features and Programs

Safety features for an insured truck, such as warning stickers, are beneficial for risk assessment. Company safety programs and driver safety trainings are also helpful.

DOT Safety Record

This is record of an owner operator or company DOT safety rating, Safestat and Inspection, Selection (ISS-2) scores, violations, etc. and is routinely used to assist in determination of the truck insurance rate.

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Make sure you have the right coverage for your needs and your budget. Call Integrity Network Insurance Group at (512) 989-6006 for a Texas trucking insurance quote.

(Article courtesy: Cover Me Insurance)
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