As a trucking company, trucking insurance is probably one of your most significant expenses each month. Luckily, as a small fleet owner, there are steps you can take to keep your insurance premium rates under control.
1. Look for Experienced Drivers
When you are looking to hire drivers, focus on hiring drivers who have some experience under their belts. As a driver gains more experience with commercial vehicles, they will be able to handle inclement weather and challenging traffic and driving conditions better.
2. Consider Age
When hiring, you can never discriminate based on age. However, age is a factor that you should consider. Really young drivers are expensive to insurance with commercial insurance just like they are with passenger insurance. Really old drivers can be more expensive to cover as well. Strive to have an even mix of young, middle age, and old drivers.
3. Always Check Driving Records
When you are hiring drivers, you need always to check their driving records. You want to look for drivers who don't have that many accidents or moving violations on their licenses. They don't have to have a perfect record; one or two minor moving violations over a multi-year period are okay; however, the less, the better.
Your insurance company will check the driving record of anyone that you hire, so you should do the same. Hiring someone with lots of accidents and moving violations is going to drive up your insurance premium. Carefully review driving records and hire drivers with the best record possible.
4. Carefully Choose Your Routes
When you take on contracts, carefully review the routes that your drivers will have to run. Certain routes are going to drive up your insurance costs. Generally, driving through high-density areas will increase your insurance costs. The type of weather where your routes are located can also impact your costs. Choose routes in less densely populated areas with good all-around weather for the best insurance rates.
5. Stick With Newer Vehicles
Every vehicle in your fleet doesn't have to be brand new; however, it is a good idea to stick with trucks that are less than a decade old. That way, you are using modern equipment out on the road, which can help with your insurance costs.
If you want to reduce your commercial truck insurance costs with your small fleet of trucks, be careful with who you hire as a driver. Stick to drivers with experience and a low number of moving violations and accidents. Carefully choose your routes and stick to using newer vehicles.Share