If your business uses commercial trucks or construction vehicles, you need a commercial truck insurance policy. This kind of policy can cover pickups, box trucks, tow trucks, dump trucks, semi-trucks, and flatbed trucks. These policies can also cover specialized equipment such as garbage trucks, tractors, and construction vehicles, including front loaders and cement trucks.
The cost of commercial truck insurance varies depending on the size of the vehicle and where it is used. These vehicles are larger and heavier than passenger vehicles and smaller trucks, and their greater mass multiplies any damage occurring in an accident, regardless of who is at fault. Construction and farming vehicles are the least expensive. Small delivery vehicles are slightly more expensive. Heavy duty vehicles are more expensive, and cargo vehicles transporting more than 10,000 pounds are the most expensive of all to insure.
Another factor in the price of commercial truck insurance is the age and driving record of the driver. Just as in personal auto insurance, younger drivers and those with poor driving records increase the costs of a commercial truck insurance policy. The best insurance rates typically go to drivers who are between the ages of 30 and 65 and who also have a good driving record. To minimize your costs, it’s best to do a driving record background check for any prospective drivers.
The insurance experts at Koch Insurance Group can answer any questions that you may have about insuring your commercial trucks or heavy equipment.