10 Common Mistakes Truckers Make When Buying Insurance

10 Common Mistakes Truckers Make When Buying Insurance

If you are a truck driver, then you know that there is often more to buying insurance than the price. You want to make sure that your coverage is enough for your needs and that it fits into your budget. If you are not careful about what kind of policy you buy, then you could end up making some common mistakes in this area. In this blog post, we will cover 10 common mistakes made by truckers when they purchase their car insurance policies.

1. Not Spending Enough on Liability Coverage

This is probably the most common mistake that truckers make. They tend to go for the bare minimum when it comes to their liability coverage. While you can save a little bit this way, remember that you are putting yourself at risk every time you hit the road if your policy is not high enough in liability coverage.

2. Buying Coverage That Isn’t Enough

Just because you opt for a higher amount of coverage than the bare minimum does not mean that you should stop there. Make sure to also consider how much your truck is worth and getting enough collision and comprehensive coverage to replace it in case of an accident. If you do not have this kind of coverage, then you could end up having to pay the difference in value if your truck is totaled.

3. Not Getting Enough Uninsured or Underinsured Motorist Coverage

Truckers need all of the insurance that they can get when it comes to driving their big rigs on the road, and this includes uninsured and underinsured motorist coverage. If you are in an accident with a driver who does not have insurance or enough of it to cover your bills, then this type of coverage will help you to get the funds necessary to pay for the expenses.

4. Not Getting Enough Medical Coverage for Your Employees

If you own and operate your own trucking company, then you need to be aware of what you are required to provide in terms of insurance coverage for your employees. This is particularly important when it comes to the medical expenses that they may incur due to injuries on the job. Without sufficient coverage, you could end up having to pay these costs out of your own pocket.

5. Not Getting Coverage For All Your Assets

When you drive a big rig, you have quite a few assets on board with you. If someone is injured or their property is damaged in an accident you have caused, then they might sue to collect compensation for these losses. To pay any damages that are awarded by the court, you will need to make sure that your policy is high enough to protect all of your assets. Otherwise, you could lose everything that you own.

6. Letting Your Coverage Lapse

If you let your truck insurance policy lapse for too long without renewing it, then you might not be covered if you are involved in an accident after this point. Most insurance companies will automatically cancel your policy if it is not renewed within 30 days after it expires. Make sure that you take care of this step when your policy is up for renewal each year.

7. Picking the Cheapest Insurance Offer

When you are offered car insurance quotes, make sure to go with the best option instead of just picking the company or plan with the lowest price. While it isn’t a bad idea to try to save money whenever possible, you should always remember that the cheapest policy is not always the best one.

8. Paying Monthly When You Can’t Afford It

While this mistake may seem small compared with some of the others on our list, it could end up costing truckers quite a bit of money if they are not careful. If you are having financial problems, then you should do your best to avoid insurance policies that force you to pay for them on a monthly basis. This can cause your premiums to go up quickly, and if you miss one payment your policy could be canceled altogether.

9. Ignoring Your Deductible

When you get car insurance quotes, you should be aware that your deductible will have a big impact on the overall price of your policy. If you can afford to pay more for your insurance so that you don’t have a high deductible, then this is definitely a better option than choosing a plan with a low monthly premium but higher deductible.

10. Not Checking Your Policy

After you buy car insurance, it is important to make sure that your policy fits your needs and that you are fully covered. You should review the terms of the contract every couple of years or so to make sure that nothing has changed.

How much does uninsured/underinsured motorist coverage typically cost?

Our agents can give you an accurate estimate of how much this insurance will cost once they have all of your information. It often depends on what type of health insurance plan you currently have and the make, model, and year of your vehicle.

What does full coverage insurance typically cover?

The type of damages that full coverage insurance will help pay for can vary depending on why you need it. Our agents can help you figure out if the type of insurance that you have will pay for damages caused by your vehicle, damage caused by weather, or any other kind of damage.

How much does it cost to insure an older car?

The price of insurance for older cars can vary depending on what type of vehicle it is, its overall value, and how many miles it has been driven. Our agents will take a look at these and other factors to make sure that you are getting the best deal possible for your unique situation.

What kinds of discounts are available?

Our agents can go over all the different types of auto insurance discounts with you. They will take your personal information into account and help you find a policy that offers the discounts that are most likely to benefit you.

What things affect auto insurance premiums?

Our agents can give you detailed advice on how to keep your premiums low. They will look at the type of car that you drive, its market value, and other factors that may affect the cost of your insurance.

How much does it cost to protect a big rig from weather damage?

The cost of covering your vehicle against weather damage will depend on the make and model that you have. Our agents can give you an accurate estimate once they know what type of big rig you drive, whether it is new or used, and how many miles it has traveled.

Does full coverage auto insurance cover towing and roadside assistance?

Our agents can help you figure out if the type of insurance that you have will pay for towing and roadside assistance. They will go over all the details of your policy with a fine tooth comb so that they can find any loopholes or exceptions that might apply.

How much does it cost to get liability coverage for a semi-truck?

The costs of liability insurance will vary depending on why you need it. Our agents can take a look at your overall financial situation to make sure that you are getting the best deal possible for your unique needs.

How much should truckers expect to pay for full coverage on their vehicles?

The amount of money that you will have to pay each month for full coverage insurance can vary depending on your needs. Our agents will take a look at the type of truck that you drive, its mileage, and other factors to give you an accurate estimate of what your policy will cost.

What other types of coverage are available?

Our agents can explain all of the different types of insurance policies that big rig drivers have to choose from. They will take a look at your needs and budget, and help you find a policy that is perfect for you.

At The End Of The Day

Comment below and share your thoughts! What are some mistakes you’ve seen other truckers make while shopping for insurance? Let us know in the comments. We’re always looking to add new content to our blog, so if there’s a topic you’d like covered, let us know.

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