Ask An Agent: How Much Does Truck Insurance Cost?

Today’s question comes from a commercial truck driver who called into our office for a quote. He wanted to have an idea of truck insurance cost before we spent a chunk of time discussing his business operation and the gritty details. Do you want an insurance quote? Call our licensed insurance agents at 855-281-2924.

Question Of The Week:

“Will, how much does commercial truck insurance cost? What can I do to bring down my insurance price?”

As with most things in life, it depends.

I wish I could pull a quote out of thin air and give it to people. But, it doesn’t work that way. Insurance quotes are based on multiple rating factors unique to each person.

I can confidently say the average truck insurance cost is between $12,000 and $18,000 per truck.

But what about your insurance quote? Well, again, it depends. Insurance rates are determined at a macro level by each state and region. Florida truck insurance is more expensive than Indiana truck insurance. A trucker in Chicago, Illinois will pay more than a trucker in Jacksonville, Illinois.

Another important factor in price is the type of trucking operation. Box truck insurance is often cheaper than semi truck insurance. Dry van hauling is often cheaper than auto hauling insurance.

Okay, we determined that the location of your business and your trucking operation are important factors in truck insurance cost. What else?

Truck insurance uses hundreds of individual rating factors such as your prior financial history, accidents and violations, insurance history, DOT safety scores, and more. Each insurance quote is hyper-individualized to your meet your specific profile.

That means you and your friend could both own trucking companies based in the same town and state, yet have completely different insurance premium.

When it’s time to shop for your insurance renewal, take the time to discuss your trucking operation with your insurance agent. Rates fluctuate and change – old information could keep your insurance cost high. But most importantly, take the time to answer any questions your insurance agent may have. We ask it for a reason!

Do you want an insurance quote from a truck insurance expert? Call our office at 855-281-2924 or submit your information online for a same-day quote.

This blog is for informational purposes only and does not amend, modify, or supplement any insurance policy. Read our informational disclaimer here.