10 Steps For Reducing Your Truck Insurance Cost

Posted by Rajiv Partap Singh on July 5th, 2019

Reducing the current costs of the business becomes important in challenging economic times. Same goes for the trucking business. Insurance is one of the major trucking business costs. So, in this article, you will learn about the 10 steps you can take to reduce front lift loader insurance or insurance rate of your truck or any other vehicle. 

Get multiple quotes 

This is the oldest way to get a fairly-priced deal. Let insurance companies or insurance brokers in Brisbane get into a bidding war. 

  • Rope in multiple insurance brokers or companies. 

  • Set a deadline to respond 

  • Meet in person

While it is true that you need to set aside some time to meet multiple insurance brokers in Brisbane personally, but you will be able to save money. So, you are not wasting your time. 


You should take the first step 1 or 2 months before your current insurance expires. Just let them know that you want to buy an insurance policy. When you receive a call from an insurance company, tell them that you are sitting in the office of some other company. Let them know that you are in touch with more than one agent or company. 

Tell your story

Tell them about your business, your business strategy and your goals. Make them believe that you are a company or individual who can be trusted.

Improve your safety rating 

This time, let your actions speak. All insurance companies and agents will love to work with a company having excellent safety ratings. If you don't have good safety ratings, improve. 

Hire experienced drivers 

Finding a good and experienced driver is not easy these days. If you have good connections with drive recruiting agency or you are an amazing driver, try to hire the best driver. The driver should be in the 40s with 15 years of experience.

Maintain your trucks 

A well-maintained truck not only brings more cash but also improves your safety ratings when your truck is inspected or an audit is performed. 

Maintain your equipment 

The trailer should be well-maintained just like your truck. You will get a ticket even when the badly maintained trailer is not yours.    

Be in the trucking business for a long time  

Older is better for insurance brokers in Brisbane. Your business should be at least three years old if you want low insurance cost. 

Hire a driver with good MVR records 

MVR reflects the driving history of the driver. This includes driving under the influence (DUI) convictions, vehicle crimes, accidents and other information. 

Set up safety training programs for your drivers 

Establish safety training procedure for your drivers to show that you are taking safety seriously.  

  • Set up a quarterly safety training program. 

  • Monitor and analyze the improvements of your drivers.  

  • Reward drivers showing improvement. 

Like it? Share it!

Rajiv Partap Singh

About the Author

Rajiv Partap Singh
Joined: May 24th, 2017
Articles Posted: 47

More by this author