Many of our customers rely on us to give them advice on which coverages they need, which deductibles to choose, and even which insurance company to go with. Here are some basics when making those choices.
1. Agent relationship is #1. Has this agent written alot of trucking insurance? It's a specialized field, and you don't want any surprises especially at time of loss. Also, has the agency itself been in business for many years? How do you connect personally with that agent? The right agent will have multiple insurance companies to choose from, be well-versed in trucking coverage and a professional, honest and level-headed.
2. Make sure you describe your operation in it's entirety to your agent; he needs this information to advise you which coverages are necessary, and which ones are desirable.
3. If you have more than one quote from different insurance companies, ask your agent which one works best with claims and service. Believe me, he will know. Price needs to be competitive, but I will gladly pay a little more for a company that will be there when I call. Trucking insurance is expensive, and even more expensive when you get lousy service for all your hard-earned money.
4. What deductible level is right? Physical damage insurance and cargo insurance normally have deductibles attached (how much you owe of each claim). If the deductible is higher, then the rate charged will be lower. At the inception (start) of the policy, that is an attractive feature; however, I ALWAYS advise my clients to choose the lowest deductible possible. Why? At time of loss, there can be injuries, irate customers, property damaged and a serious deficit in your ability to service your customer; having to deal with a large cash payout during these very stressful times will make you wish you had chosen to pay a little more.
If you have any questions about this post, or I can answer any of your questions, feel free to contact me.
Drive safe out there