New truck drivers may not know how much commercial truck insurance costs, how to get the best insurance rate, or what kind of insurance coverage they will need.

Without a clear idea of what to look for when searching for cheap insurance for their truck, drivers can be stuck paying a hefty premium. In this article, you will quickly learn how to earn the cheapest commercial vehicle insurance rates.

Maintain a Clean Driving Record

Several factors play a role in the insurance rates companies give you while shopping around for Commercial Transportation Insurance. The industry you work in, the cities you drive through and park your truck, the year, size, and usage of your vehicle, and your driving history all heavily affect your rate.

Depending on your profession, the size of your truck and where you drive may not be completely in your control, but maintaining a clean driving record is something you absolutely have authority over.

Getting good insurance is a major tip for starting a tow truck business or any other business, and your driving history has one of the largest effects on your premium. Even a minor moving violation can raise your insurance rate.

Policyholders can have anywhere between a 10 to 20 percent increase in their premium after receiving a speeding ticket. Therefore, you and any employees must practice safe and lawful driving habits.

You and your employees should also continue to practice these driving habits while using a personal vehicle off the clock. Over time, maintaining a clean driving record free of violations and accidents can lead to your rate decreasing from the original rate you were given.

Adjust Your Coverage Limits and Deductibles

One way to make sure you are choosing the perfect truck for your business is to consider how well it can sustain after an accident and how much it would cost to repair it. When you consider this, you may allow yourself a little wiggle room with your coverage limits and deductibles.

You can lower your rate by either increasing your deductible or lowering your coverage. An example of adjusting coverage is lowering your liability coverage from 500 combined single limit (CSL) to 100 CSL.

Alternatively, you can save by increasing your physical damage deductible. This means that you would have to pay more money out of pocket after filing a claim on an accident, but it could be worth it if you have safe and smart drivers.

To save more money, you can increase your deductible and lower your coverage limit. How much you lower your coverage depends on how much it would cost to repair your truck and the amount of damage the vehicle might cause in an accident.

Take Advantage of Discounts on Your Policy

When looking for the best affordable policy, you should shop around and review all the rates and discounts that are offered to you. Discounts are a simple way to lower your commercial auto insurance. Here are some common discounts:

• Continuous auto insurance
• Multi-policy discounts
• Business insurance discount
• Commercial driver’s license (CDL)
• Business owner experience
• Proof of prior insurance discount
• Paid-in-full discount

After reviewing the discounts and rates offered by various providers, you should choose a policy that offers you the best coverage and most affordable rates.

If, after reviewing and accepting a rate with discounts, you decide to lower coverage or increase your deductible, be sure you are 100 percent comfortable with the amounts you chose before purchasing the policy.

Imani Francies writes and researches for the auto insurance comparison site, AutoInsurance.org. She earned a bachelor of arts in film and media and specializes in various forms of media marketing.