Whether you operate a tractor trailer, haul materials with a dump truck or drive any size or type of truck for a living, you are aware of the complexities required to insure your vehicle. But is there enough incentive to consider changing your insurance company? Maybe, depending on how your company stacks up to the list below.
Your insurance agent needs to be attentive, thorough and ready to move quickly. If that isn’t your agent, look elsewhere.
The obvious reason for switching is usually not the right answer: lower premiums. By using due diligence and comparing similar coverage plans, you can probably save on your premium, but most likely you are paying a competitive premium.
What you might be missing is a company that saves you money in other ways. The first of which is
1. Speed. Or lack thereof. Has your current insurance company ever made you lose working days because it took them a long time to get you your required paperwork? That delay alone can decrease what ends up in your bank account. Think about what a slow insurance agent could cost you in the event of a significant accident claim.
Your insurance agent needs to be attentive, thorough and ready to move quickly. If that isn’t your agent, look elsewhere.
2. A trucking insurance specialist. Be careful with this one. In the insurance business, many companies claim to be specialists at everything. Don’t buy it. Just because a company can fill out the paperwork does not mean that they are providing the best advice to your specific need.
Run this test: go to your insurance company’s website and look at what they list as their specialties. Do they include everything under the sun? Where is trucking insurance listed? First? Last? At all? You can quickly gather whether your insurance agency is actually a “specialist.”
What is the benefit of working with actual specialists? They ask the right questions and provide coverage that is exactly right for you. In the long run, they lower your risk and raise your peace of mind. With all of the state, DOT and Federal Motor Carrier regulations (and they fines they impose) having an insurance agent who is a “specialist” is critical.
3. An insurance company that is in a different time zone than you. If you drive your truck for a living and you are based in Ohio, do you really think it is a good idea to work with an insurance company operating out of Texas or California? Insurance regulations differ from state to state. Asking someone in Sacramento what is best for your Cleveland company raises your risk for bad advice.
If you do look into changing your insurance agency, start within your own state. The odds that a local agency is up to date with your state’s ever-changing rules are much better. You will get the right kind of coverage for your area and not end up paying for additions that may not even apply to your region.
The Jones & Wenner Insurance Agency is an Ohio-based insurance agency that has specialized in trucking insurance for almost 40 years. To test our ability to work efficiently and effectively, contact me or any of our agents to find out if we are a good fit to insure your truck or fleet.