If you are in the market for commercial truck insurance, then you should be prepared. Not only are rates typically much higher than regular car insurance, but you have more options for insurance and insurance discounts.

High Rates

One of the most important things to be prepared for when shopping for commercial truck insurance is that the rates are much higher than typical car insurance. Semi-trucks are heavy, carry many different goods (and a lot of them), and accidents or collisions involving semi-trucks are far more dangerous and costly than the average car wreck. Plus, most truckers drive across the entire country and may carry precious or fragile goods depending on the company. The yearly cost of commercial trucking insurance can range from $3,000 to $12,000 a year, depending on whether you own your truck or lease it, what you carry, and other factors.

Many Different Types

There are many more types of commercial trucker insurance than there is regular car insurance. For example, car insurance for the average driver includes liability, uninsured, comprehensive, collision, personal injury, and medical payments coverage. Meanwhile, commercial trucking insurance has most of those while also having coverage for the cargo itself and for while the truck is being leased out or the trailers are being changed, and those are just the common ones. You may have to bundle different types of insurance depending on your capacity and willingness to take on risk and what you need.

Possible Discounts

The final thing to be prepared for when shopping for commercial truckers insurance is that there are different discounts available to you that don't apply to the average driver, depending on the insurer you use. This goes beyond the regular discounts for having a good driving record. You may be able to find discounts based on how long you've been in business, for paying the entirety of the insurance up-front (this discount can be up to 15%) and for choosing higher deductibles. These discounts can be crucial for reducing your business expenses, so be prepared to take advantage of as many as possible.

There are many things you should be prepared to do as you buy commercial truckers insurance. You should be aware that the insurance rates are upwards of $3,000 a year, while also knowing that there are many different types of insurance (and more of them) available to truckers. Finally, you should know that you have more options for deductions to your yearly insurance rates than the average driver does.

For more information, contact a commercial truck insurance provider.