Recently, our Chief Underwriting Officer, Terri Moran was interviewed by The Inside Lane for an article about truck insurance for fleets. Here’s an excerpt from “How to Save Money on Truck Insurance”:
Premiums for commercial trucks run from $5,000 up to $40,000 a year, with most vehicles landing in the $15,000 to $20,000 range, said Terri Moran, chief underwriting officer for SPG Transportation, a national trucking insurer.
Determining that number depends on location, driving history, driver training, company accident history, credit rating and many other pieces of information.
“There’s a lot of information out there [about drivers, trucks and fleets]. “The data doesn’t lie. To me, the big deal is that these guys need to manage that.”
“Manage,” as in:
- Hire drivers with solid driving records
- Train your drivers (and document the training)
- When drivers have incidents or accidents, retrain them (again, document it)
- Weed out poor drivers
- Understand what your CAB report shows and work to reduce your violations
- Put cameras inside cabs
Read the entire article on The Inside Lane.