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Commercial Truck Insurance

Since all vehicles are required by law to carry insurance, it should come as little surprise that there is commercial truck insurance available. Companies want to be able to insure their fleet at a cheap rate, and insurance companies look to make a buck on corporate fleets that rarely get into accidents. Seems like a win for everyone involved doesn’t it?

On the whole that’s exactly what commercial truck insurance is, a win-win for both parties. I’m sure the average company would rather go without insurance, but the laws keep getting in the way of that type of cost cutting maneuver. The issue that comes into play is when a claim does need to be filed. Fixing big trucks isn’t a cheap proposition, hence why they need to be insured.

Some companies will bend over backwards to avoid filing a claim. Even a few claims a year can lead to a hefty increase in the commercial truck insurance premiums. And if the insurance company is raising the rates, it signals the end of that win-win relationship that both parties covet so much. So repairs, even one that cost tens of thousands of dollars are often eaten by the company just so they don’t have to report an accident to their insurer.

 

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