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Does A Commercial Auto Insurance Company Care What Kind Of Truck I Have?

Does A Commercial Auto Insurance Company Care What Kind Of Truck I Have?

The short answer is yes, a commercial auto insurance company cares about what kind of truck you have. The cost and type of your truck is a major factor that dictates your premiums. Other variables include the likelihood of future repairs, engine size, and how safe insurers think it is. 

On the other hand, trucks with high-quality safety equipment may qualify for premium discounts. These trucks require less maintenance and have better crash ratings than those without as many security features. 

Other Factors To Consider When Determining Commercial Truck Insurance Premiums 

A multitude of factors is considered when determining the premium for a truck insurance policy. These factors are used to estimate the likelihood of an accident or financial risk associated with providing truck insurance to drivers. While a driver can affect some of these characteristics, such as accident history, the insured person cannot control others, like their age.

Experience Driving A Truck 

Truck drivers with experience offer less of a risk and can help reduce their truck insurance rates. In addition, truck driving expertise with various kinds of equipment and weather conditions comes naturally in the number of years a trucker has driven similar rigs.

Operator’s Age 

Statistics indicate that very old and very young truck drivers are more prone to accidents. As a result, these high-risk age groups will pay a higher price for truck insurance. Therefore, drivers between the ages of 30 and 65 are the ones preferred.

Accident History 

A driver who has been involved in an accident in the past is more likely to be involved in another accident in the future. As a result, the fewer violations and accidents a truck driver gets the lower their truck insurance premium.

Insurance Coverage In The Past 

Truck insurance providers may inquire about previous insurance coverage. If you have been canceled in the past for non-payment of premiums or underwriting reasons, the prospective insurer will want to know. Your previous insurance company might provide your new insurer with information about your loss history.

Years of Operation 

As with newly hired drivers, a recently functioning trucking company is more likely to face additional burdens associated with business growth. However, the frequency of loss is more likely to reduce as safety programs, drivers, management operations, and compliance with rules develop.

Driving Route 

The various routes taken by a driver can affect their truck insurance premiums. This is due to the average road and infrastructure conditions, seasonal weather conditions, and population density, among other factors.

Employment Background 

The number of years a trucker has worked for several firms is taken into account when calculating experience. This is because the driver's familiarity with specific routes and equipment reduces the likelihood of an accident.

Cargo Truck 

The sort of goods that truckers transport will also affect the cost of their truck insurance. Cargo insurance is nearly entirely determined by the cargo's worth, the risk of theft, and the sensitivity of the delivery time.

Operated Equipment 

Truck insurance premiums are influenced by the age, condition, and value of the equipment operated. However, the truck's age is frequently unimportant, as the truck's condition is determined by maintenance and newly fitted equipment.


The deductible is the percentage of the cost of damage or loss that the insured party bears in the event of an insurance claim. The higher the deductible, the less expensive the truck insurance premium will be.

Features and Programs for Safety 

For risk assessment purposes, safety elements on an insured truck are advantageous, such as warning labels. Additionally, company safety policies and driver safety training are beneficial. 

Safety Record of the DOT 

This is a record of an owner operator's or business's DOT safety rating, Safestat and Inspection, Selection (ISS-2) scores, and infractions, which are frequently used to assist in determining the truck insurance rate.

Frequently Asked Questions:

Does the type of truck I have affect my commercial auto insurance premiums?

Yes, the cost, type, engine size, and safety features of your truck all play a role in determining your insurance premiums.

How does a driver's experience and age influence truck insurance rates?

Experienced drivers and those between the ages of 30 and 65 are seen as less of a risk, thus they typically have lower insurance rates.

Does past accident history affect truck insurance premiums?

Yes, drivers with fewer accidents or violations typically have lower insurance premiums as they are perceived to be lower risk.

How does the route a truck driver takes affect their insurance premiums?

Factors like road and infrastructure conditions, seasonal weather conditions, and population density along a driver's route can affect their insurance premiums.

How do safety features and programs influence truck insurance rates?

Trucks with high-quality safety equipment and drivers with safety training can often qualify for lower insurance rates due to reduced risk.

No matter the truck, we've got your fleet covered. Learn more about our Fleet Auto Insurance and how we accommodate all types of vehicles. Click here to find out why the type of truck you have matters for your coverage!

If you wish to know the best commercial truck insurance available in the U.S., check out Assured Standard's list of the best-ranking insurance for commercial trucks today!

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