Nowadays you can purchase almost anything from the comfort of your own home. Insurance
included. Online insurance shopping can be one of the fastest ways to obtain coverage. Online
shopping also makes it easier to comparison shop without sitting through countless phone calls
or even visiting actual insurance offices.
While online truck insurance may seem to be standard fare these days, it can quickly become
overwhelming. With so many providers and insurance options to choose from, how do you know
when you're getting the best deal? More importantly, how do you know if the coverage
purchased is any good?
Any company can make itself look good online. However, you need to be able to determine the
right coverage for you, your truck and your budget. This guide will walk you through the basics
of choosing a quality truck insurance company, fill you in on some red flags to watch out for,
and help you check a company's standing to ensure you're always in good hands.
What to Look For
There are many things that make a good insurance provider. Most people tend to only focus on
price, which often becomes a costly mistake. While cost is a major factor in the policy you buy,
the actual company's behavior and treatment of its clients should be a huge point of consideration
as well.
Your insurance provider shouldn't be an enigma. You should have a clear understanding of who
they are, what their mission is, and how they fulfill their clients' needs. Some of the top qualities
to look for in a truck insurance provider are:
● At least five years of insuring commercial trucks.
● Specialization in commercial trucking insurance (not a one-size-fits-all coverage policy).
● A website that exemplifies their passion and knowledge for providing quality commercial
auto coverage.
● Expert and professional customer service you can easily contact at any time.
● Services available to all clients, regardless of how much they're paying.
You don't want to be with an insurance company that doesn't know their own business or the
needs of their clients. Assuming an insurance company is familiar with the risks they insurer is a
mistake as there are many insurers who do not understand the trucking industry.
A good commercial truck insurance company will have a website and representatives that know
trucking. They are able to understand and assist you from a perspective that makes sense to you.
While they do need to earn a profit, their bottom line shouldn't be making a quick buck. Instead,
it should be making sure that their customers receive the coverage and care that they need,
whenever they need it.
What to Avoid
Don't go for any companies that haven't been in business for at least five years (longer if
possible). Avoid any insurance providers that only have a small offering of commercial trucking
insurance. If your policy options seem like more of an afterthought than a full-scale plan,
consider taking your business elsewhere.
Companies that do not have a phone number or address listed should also be avoided. Some
individuals open insurance operations simply to earn a large profit. These companies are not the
type of company you'll be able to call up and get answers from whenever you have questions.
Also avoid any insurance providers offering limited coverage options. Strong commercial
insurers know clients' needs vary. They should offer plenty of variety when it comes to
endorsements, enhancements, and add-ons. A one-stop-shop for any type of insurance is a hard
pass.
Where to Find the Best Providers
Googling “commercial truck insurance” in your state can help point you in the right direction.
But it’s also easy to get overwhelmed with your options. Instead, look for websites offering
quotations from multiple insurance companies.
There are many websites who act solely as a referral service. A better choice is choosing to work
with an insurance broker. They can help you compare insurance in one easy process rather than
requesting dozens of quotes yourself.
How to Research Insurance Companies
An insurance company's history is important, and you need to be aware of any issues they've had
in the past. There are four primary rating agencies to reference when researching insurance
companies:
– AM Best
– Moody
– Standard
– Better Business Bureau
Each of these rating organizations offers a glimpse into the company's quality of service and its
financial strength. You don't want to be with any company that has a poor standing and may not
even be able to sustain itself for a few more years.
Whenever possible, companies with ‘A’ ratings are the ones you want to do business with, even
if their pricing is slightly higher. Also take an opportunity to review any formally submitted
complaints on file with your state.
Finding Coverage Online
The internet is a wonderful resource to begin your search for trucking insurance. However, take
the proper precautions before purchasing your insurance. Although you may be able to buy
coverage without every speaking with someone, we highly recommend picking up the phone and
having a conversation with the company or broker you are considering buying from. That simple
phone call can save you a lot of grief when you need to file a claim.
Conclusion
If you’re looking to work with someone that can provide you with competitive options and
specialize in trucking insurance, check out the guys at Truck Insurance Pros. Truck Insurance
Pros has been in the insurance business since 1947. They’ve got the experience and know how
you’ve come to expect and depend on.
Mark Martin is a freelance writer and editor based in New York City. He has written extensively on topics ranging from technology, business and lifestyle. His work has been featured in major publications such as The New York Times, The Wall Street Journal and Wired Magazine.
