Tom's Blog
The trucking industry is a risky type of business, which means without having the right type of trucking insurance, you could be faced with some tremendous financial issues that could put you out of business. If you are a new venture driver, you need insurance for trucking auto liability along with physical damage coverage so it is vital that you find the right type of N.C. trucking insurance for new ventures that provides the protection you need and deserve as a start up trucking company.
As a new venture trucker, your job is to haul freight and transport goods; however, this profession is volatile and protecting the products you transport is vital. Not only that, but imagine transporting goods/freight and causing an accident that includes fatalities. The liability portion (protection for damages and injuries as a result of an accident you cause) of the new venture trucking insurance is crucial to safeguard your business, assets, and financial future.
Here’s the Tricky Part for New Ventures
As a new owner-operator, your investment in commercial truck insurance is mandatory for your new venture regardless of the size of your start up business, but finding one that is affordable may be tricky if you aren’t careful. Some companies will penalize you for being a new venture and may either give you an extraordinary high quote or simply won’t insure you. Look for an experienced, competitive N.C. insurer that won’t penalize you because you have no prior track record and never skimp on the commercial insurance protection. You CAN find the right type of N.C. insurance protection that is affordable, but you may have to work with experienced brokers to find the best deal.
Trucking Insurance for New Ventures Can Provide Coverage for the Following:
- Auto Haulers
- Hot Shot Trucks
- Box Trucks
- Semi Trucks
- Straight Trucks
- Roll Backs
- Route Delivery Trucks
- And More
When looking for an insurance quote as a new CDL driver, it is recommended that you have pertinent information on hand BEFORE you call in order to expedite the process, such as expected goods to be hauled, travel territory, along with vehicle and driver information.
Tips for New CDL Drivers Looking for the Right N.C. Trucking Insurance
Find out Your Credit Score- Having a poor credit score will have a negative effect on getting an affordable insurance rate as a new CDL driver.
Shop Competitive Trucking Insurers- Look around for competitive N.C. trucking insurers willing to insure new venture drivers for the most affordable insurance rate.
Gain CDL Experience- Many insurers do not like to insure new CDL drivers. Typically you need 2 years or more of CDL experience to get the best rate.
Limit Radius of Operation- As a new driver, insurance companies may limit your radius of operation of hauling goods until you gain more experience.
Review Your Policy in 12 Months- Your initial policy may need to be reviewed after a year in an effort to reduce your insurance premium. The more experience, the lower your premium may be.
Get an Agent That Can Shop Around For You
There are insurers that do write for new ventures but you may have to shop around or have an agent that has access to many insurance companies do the shopping for you for the most competitive price while still focusing on the right protection. Fortunately, we can do it for you. If you have any questions regarding new venture trucking or N.C. trucking insurance for all your specific needs, call us at 866-869-3335 and we will assist you right away!
