Think of your trucking insurance premium on a risk meter. The more risk an insurance carrier sees, the higher the premium. Here are the major factors carriers use to set your rate:
Driving history: A clean driving record will help you secure a much lower rate than a record with accidents and violations.
Time in business: How long you’ve been in business is a huge factor. In most cases, businesses with two or more years of history receive much lower premiums than newer businesses.
Cargo: What you haul, and how heavy it is, changes your risk level and your premium.
Location and operating radius: The farther you travel, the higher the premium usually is. Longer distances mean more exposure to accidents, fatigue, distraction, and changing weather.
Vehicle type: Heavier trucks usually cost more to insure because accidents involving them tend to be more severe.
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