Insurers charge small semi-trailer truck companies higher insurance premiums due to the increased risks associated with insuring their vehicles. Truckers carry too much risk. Road accidents are more rampant, trucking startups have minimal credibility, and drivers are committing road violations more frequently.
Do insurance providers increase their rates randomly? Not at all. Trucking insurance companies consider several factors before increasing policy premiums, which include:
Explore all your insurance options to get the best deals in the state. Dozens of companies insure semi-trailer trucks in the state. Compare at least three to four quotes, then see which policies offer the most coverage per dollar.
However, don’t blindly opt for the cheapest policy. Several factors affect the quality of an insurance policy, which includes the insurer’s financial strength, insurance specialties, and coverage extensiveness.
Are you worried that tow truck insurance rates are going up as well? Let Assured Standard shed some light on the topic. Check out our quick piece explaining why tow truck insurance rates have been increasing lately.