One of the most important steps in running a commercial trucking business is purchasing adequate insurance, tailored to your needs, at the best rate possible. But because of the nature of the risk, insurance for your trucking business will likely be one of your major expenses. This isn’t surprising, since commercial trucking insurance protects your liability as well as your cargo and your physical assets (trucks and trailers). (Click here if you’d like to know more about what types of coverage you’ll need for your trucking business.)
In order for us to help you purchase the coverage best suited for your business, we recommend that you collect the information we will need to give you an accurate quote, including the following:
- Driver information: legal names, dates of birth, driver’s license numbers, marital status (insurance companies offer discounts for married drivers), and the original issue date of each driver’s CDL.
- Vehicle information: make, model, year, cost when new, gross vehicle weight, vehicle identification number (VIN)
- DOT number
- What is your business? Will you be driving over state lines or operating locally? How is each vehicle used? Do you carry cargo, or transport people?
- What types of cargo will be hauled, including if there will be any heavy equipment or hazardous materials. Is your cargo refrigerated? If so, what type of cargo are you hauling? If you’re hauling general freight, we need to know what types of freight you’re hauling.
If you already have a commercial vehicle policy, have the declarations page handy so you can confirm the coverage’s and limits you currently carry.
Remember, the more information we have, the better we will be able to match your needs to an insurance company that’s right for you.
Whether you’re just starting out, or you’ve been in the commercial trucking business for a while, let Lakewood Financial help you with this important aspect of your business. As independent agents, we represent several quality commercial trucking insurance carriers. Give us a call at 941-747-4600, or contact us online and we’ll be happy to answer your questions or give you a quote.
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