Driving a bobtail truck comes with a unique set of challenges and risks. Bobtailing engenders driving conditions that are highly different from driving a loaded semi-truck. Therefore, drivers are prone to making errors that ultimately lead to accidents. Bobtail insurance provides protection when a third party becomes injured in an accident.
If you are taking into account the possibility of purchasing additional insurance, have a copy of your motor carrier’s insurance policy at hand. Most importantly, draw up a list of the most likely scenarios that could take place while you’re running the day-to-day operations of your company.
Insurance premiums will rise, but what else can be expected in 2023?
Insurance premiums for trucking have increased in the past several years. Now, the COVID-19 pandemic is heavily contributing to the higher cost of insurance for motor carriers. Nevertheless, you can make bobtail insurance more affordable for you.
By comparing quotes from different providers on sites such as www.insuranks.com, you can find the right coverage at the right price. Attention needs to be paid to the fact that the estimates are valuable only if they’re accurate and unbiased.
To provide you with faultless pricing, the insurance company needs certain information about you and your vehicle. Regardless of the cost, bobtail insurance is a practical and affordable investment.
Soon enough, insurers will integrate safety technology into the services offered to their customers. Insurance products will most likley include software, telematics, and live support, in addition to liability coverage. But enough about that. Let’s get back to the present moment. As an insurer, it’s advisable to prepare by getting your affairs in order.
You need to present the best possible case to underwriters to achieve the desired outcome. Commercial truck insurance isn’t a business expense that you can just cut out. If you look hard enough, you can identify reliable coverage at affordable costs.
The biggest factors that determine bobtail insurance cost
As mentioned earlier, you can add additional coverage if you’re afraid of accidents or you haul goods on a regular basis. The cost of your bobtail insurance depends on the following factors:
- Your personal driving history
- The coverage limit you opt for
- Your years in business
- How many trucks do you own and operate
- The number of employees (if any)
If you contact an insurer, they will no doubt tell you that very few people qualify for the lowest rates. In this respect, you must be absolutely perfect. You can control some factors, while you have no power over others. To manage bobtail insurance costs, compare prices from several insurance providers.
You may think that it takes far too long to shop around for bobtail insurance; well, think again. By shopping around, you may find out that your current insurer doesn’t offer the most affordable rate for you or that it’s high time to make a switch.
Different insurance companies have their own way of trying to predict future claims.
Therefore, no two insurers will ever have the same end result. It’s a secret recipe they never share. The comparison process exposes you to various offers, so it’s easier to find the one that meets your needs and requirements.
If you happen to come across a problem, don’t worry. You just have to sign up for a new policy. Just a couple of minutes can save you thousands. Understand all the possible exposures and make sure you’re properly covered. Consider smaller, regional insurers.
Keeping your bobtail insurance at low costs
Pay it all at once
Insurance companies provide the option of selecting between paying smaller monthly installments (with higher interest rates) and a large annual payment (with considerably reduced interest rates). Paying annually translates into a higher deposit, but it works out better and is cheaper.
Pay off the annual installment by credit or debit card. If you can afford to do so, it’s the most affordable option. By paying the lump sum of money upfront, you avoid getting into a credit agreement that involves paying high interest on the premium calculated by the insurance company.
Keep a clean driving record
It goes without saying that you should maintain a pristine driving record, both on and off the clock. The best practices encourage safe driving. Keep in mind that it can turn out to be costly to have a bad driving record. Don’t hit the brakes fast because the truck may tip forward, due to the sudden lock-up of the brakes.
When in bobtail mode, the change in weight distribution affects the braking system. To avoid losing control over the brake system, take your time and limit your driving speed. Equally, recheck vehicle clearance.
As you may already know, bobtailing is dangerous. It’s recommended to take extra precautions and pay close attention to road conditions. It’s a lot easier to skid and lose traction, particularly in bad weather conditions. Give the bobtailing truck more room on wet roads or when you’re driving in an area with lots of snow.
The wheels are prone to slipping because they weren’t made to function without a load on them. If possible, drive like a snail. To be more precise, you need to drive at a speed you feel safe at.
Get all your coverages from the same company
Insurance carriers offer discounts and offers. In case you didn’t already know, you can obtain a discount if you purchase several types of insurance from the same company. Bobtail insurance covers the vehicle only when there’s no trail attached to it. To be on the safe side, get physical damage insurance, which protects the truck in the event of a collision.
Driving a large truck comes with a lot of responsibility and you have to understand that accidents can be devastating. You can purchase other types of insurance, such as cargo, medical payment, or breakdown coverage.
So, there you have it. This is pretty much what you need to know about bobtail insurance pricing and what you can do to find the right policy at the right price.