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How to Determine Excess Liability Coverages

7/21/2020

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Anyone who has been in a significant accident knows that you can never be too careful when it comes to your commercial insurance for truckers. Even with a comprehensive commercial insurance plan in place, significant incidents can lead to major financial troubles. That’s why there is something called excess liability coverage. Protecting your business is worth knowing all of your options, so here’s what you need to know about excess liability.

Excess Liability Defined

Excess liability coverages are insurance policies that provide limits in excess of your underlying liability policy. Excess liability coverages aren’t necessarily broader than the underlying policies, which means you’re not covered for more types of incidents or occurrences. The sole purpose of an excess policy is to provide additional limits of insurance.

A simple example would be if you purchased some kind of general liability insurance. Your insurance company offers coverage of up to $100,000. What happens if you are involved in an accident that causes $150,000 in damages? Your underlying insurance policy would cover $100,000, but you’d still be on the hook for the remaining $50,000. Excess liability coverage would provide insurance over the remaining $50,000 that isn’t covered by your cargo plan.

Of course, your actual insurance policy is a bit more complicated than the example provided. But the key takeaway is that excess liability fills in the holes and gaps leftover from your primary insurance plan. In a way, excess insurance is an insurance plan for your insurance plan. It makes sure that you are completely covered, even if your initial plan is maxed out.

You’ll be glad to know that excess liability coverage can work with more than one underlying policy. For example, you could have one excess liability plan that works with both professional and general liability coverages. Of course, excess plans can be more restrictive and include more exclusions to how the policy works. It’s always wise to talk with your commercial insurance provider to learn exactly how your policies work.

Excess Liability Helps

There are several instances when an excess liability policy comes into play to help increase your coverage:

  • Lawsuits and legal expenses for your business
  • Property damage and bodily injury cases
  • Additional protection on top of your regular commercial insurance for truckers
  • Other excess liabilities on top of your primary insurance plan

On the flip side, here are situations when excess liability is not appropriate:

  • The first line of insurance
  • To cover multiple policies

Umbrella Insurance vs. Excess Liability Coverages

There tends to be a good deal of confusion between the terms Umbrella Policy and Excess Liability Insurance. These two terms are often used interchangeably, even in the insurance industry. While they share some similarities meant to extend your primary plan’s coverage, there are several significant differences between the two.

Umbrella insurance is an additional liability plan meant to protect you and your business from damages or losses not covered by your existing policies. Just like excess liability plans, umbrella policies can extend over multiple liability policies.

The most significant differences between an umbrella policy and excess liability policy are:

  • Excess liability adds limits beyond your underlying policy, but does not impact the actual terms of the policy. For example, if your general liability insurance doesn’t cover damages from fire, an excess liability plan will not add fire damage to the list of coverage. It will, however, essentially increase the maximum limits for your insurance plan.
  • Umbrella insurance can provide broader coverage than what’s included in your underlying policy. For example, if your general liability insurance doesn’t cover damage from fire, an umbrella policy can help make sure that you are covered for fire damages.

Can You Stack Insurance Limits?

Stacked insurance comes into play with your business having multiple insurance policies. Stacking is the practice of applying the policy limit of each policy to the loss from damage incurred over two or more policy periods.

Let’s say that your trucking firm owns several semi-trucks on the same commercial insurance for truckers policy. Each policy has a specific limit. Stacking would be combining the ceiling of each truck’s coverage to greater a higher composite limit, thus providing more coverage.

Pretend that you have two 18-wheelers that both have $25,000 in coverage each. When stacking, you could claim up to $50,000 to cover expenses from an accident.

Stackable insurance policies will often cost more, but can provide additional coverage when you need it. Many commercial insurance providers do not allow any kind of stacking. Their policies will contain strong anti-stacking language to prohibit multiple policies from responding to a single incident.

Excess Liability Coverages Quotes

When looking for the cheapest commercial insurance for truckers, it’s always prudent to get several quotes from different insurance carriers. Start with your current insurance policy as a place to start. It’s crucial that you compare apples to apples as some companies may offer lower prices but also offer inferior insurance coverage.

Always make sure to ask your agent about options to customize your policy to suit your company’s specific needs. You worked hard to create a unique business, so don’t settle for cookie-cutter insurance plans.

Call SoCal Trucking Insurance Today

Don’t wait until you’re sitting in a courtroom fighting for the life of your company to take your commercial insurance needs seriously. Protect your business by having the right amount of coverage for your needs. Every day that your truck is on the road, you are exposed to risks that could destroy your life’s work.

Call SoCal Trucking Insurance to discuss your options. We know the trucking industry and can help you find the right coverage so that you’re never left in a lurch. Adding an additional layer of protection through excess liability coverage is just one way we help companies like yours stay protected.

Give us a call today and get a free, customized quote. You won’t find cheaper insurance at this quality anywhere else. That’s the SoCal Trucking Insurance Promise!

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3 Things Your Fleet Needs to Have

7/21/2020

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If you’re new to managing a commercial fleet or looking into getting into the game, there is going to be a lot on your plate. From maintaining your commercial fleet insurance to the logistics of managing a host of vehicles, your hands will be full. At the same time, running a fleet means being able to meet the transportation needs of your company, employees, or products.

No matter where you are in your fleet-managing journey, here are the three things your fleet needs to have: 

1. A Plan To Grow Your Fleet

When companies want to establish a fleet, they need a plan on how to get there. Typically, businesses can either buy or lease their vehicles. Each of these options has its pros and cons. You should weigh your options before making any significant decisions about getting your fleet. 

At the same time, it is possible to simply purchase enough vehicles over time that you just qualify as a fleet. Even in this scenario, business owners should be aware of the rules and make sure they are fully prepared.

In California, a company is considered to have an official fleet when it meets either of the following benchmarks:

  1. Has 15 or more vehicles registered under the company’s name, or
  2. Purchases five company vehicles within a single year

Once you establish that your company has a fleet, you’ll get your fleet number. This number is required to be displayed on all of your company’s vehicles.

Buy Vs. Lease

The age-old question of whether it’s better to buy or lease really depends on your goals, abilities, and needs. You can even meet the official requirements for having a fleet by mixing both owned and leased vehicles so long as they’re registered under the company’s name.

Leasing is a great way to keep up with the latest models, newest technologies, and get access to a variety of tax advantages. For example, you can often deduct your entire lease payment on your business’s taxes or simply claim depreciation. 

At the same time, having a lease means being careful not to damage the vehicle or to go over the allotted mileage amount. Making these little mistakes can lead to high costs when the lease is over. You may also be required to carry higher levels of commercial fleet insurance by your truck insurance company.

Buying your fleet vehicles gives your company more control over its assets. This can add to your company’s overall resources and improve the speed at which you respond to transportation needs. But with great power comes great responsibility: you are fully responsible for any maintenance and repairs to your fleet, which can be quite costly. Once you pay off the vehicle, however, there will be no more payments to make outside of regular upkeep.

2. Hiring and Training Drivers

Your fleet employees are the men and women who will actually handle your fleet vehicles. Whether you contract truckers to operate your semis or hire hourly delivery drivers, you’ll want to have a solid team at your disposal.

The exact qualifications and characteristics of your perfect driver will vary depending on the equipment you use and the scope of the job. For example, truck insurance companies won’t be happy if you hire someone without a CDL to handle one of your big rigs. Here are some other qualifications you should consider:

  • Valid driver’s license with the appropriate class requirements, such as truck, bus, limonene, etc.
  • Mentally and physically capable of handling your specific type of vehicle
  • A clean driving record and experience. This is a great way to reduce the cost of your commercial fleet insurance.
  • References from previous employers that you can contact and verify
  • Can pass a drug and alcohol screening

A Time to Train

It’s crucial that your company offers regular training programs geared towards keeping drivers safe and efficient. Fleet drivers are on the road much longer than regular drivers, so it’s imperative that they remain focused, especially if they lack experience.

A good training program will remind drivers of the dangers associated with being on the road, like the dangers of fatigued, aggressive, and distracted driving. These training sessions can also provide updates on laws, policies, and other crucial information to be effective behind the wheel.

3. Commercial Fleet Insurance

Just like you are required to have insurance on your personal vehicle, business vehicles are required to carry commercial insurance. Unlike your personal insurance, though, fleet vehicles can be part of a single plan. Before establishing your company’s fleet, you would have a policy for every car, truck, and van that your company owns. As you can imagine, this can get complicated with different policies, due dates, coverages, etc.

But once your fleet is established, you can combine all of your company’s vehicles onto one, single policy. You’ll still have access to all of the different kinds of coverage available from your truck insurance company AND it will ultimately be easier to manage.

Contrary to popular belief, fleet vehicles don’t all have to be the same type or used for the same purpose. A company could have several semi-trucks for hauling cargo along with company cars for employees to drive. While some fleets might be made up of similar styles of vehicles, you’ll always have the freedom to build the exact kind of fleet your company needs.

Keep Your Prices Low

Insurance companies are in the business of assessing risk. Those with lower risks will get lower prices while higher-risk operations will pay more. To keep your costs down, focus on making your fleet as low risk as possible. It’s not feasible to remove all risk, but anything that brings down your premium is at its best.

Here are some factors commercial and truck insurance companies will consider when generating your quote:

  • How many vehicles are in your fleet?
  • What types of vehicles are in the fleet?
  • What is the purpose of your business?
  • Do you lease or own your vehicles, or is it a mixture?
  • What is your company’s safety and inspection history?
  • What kind of cargo, if any, do you haul?

Get a Quote Today

Whether you are getting ready to hit the fleet threshold or are simply looking for the best commercial fleet options in town, make sure to call SoCal Trucking Insurance. We provide all of the coverages your business needs to not only stay protected but to thrive. From individual policies to commercial fleet insurance, our team is here to help you discover and explore all of your options. Give us a call today and get your free quote for the cheapest and most effective commercial trucking insurance available.

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4 Reasons to Change My Trucking Insurance Provider

7/21/2020

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Truck insurance companies in California provide a necessary service to the brave men and women who transport goods, deliver packages, and keep the U.S. economy booming. Many commercial trucking companies lock in on what they think is a cheap truck insurance quote and never look back. 

Unfortunately, these companies may not realize that there are better, more affordable options. And even if you like your insurance company, it’s worth shopping around every now and again; it might even be worth making the change.

Here are 4 reasons why you should consider changing your trucking insurance company:

1. Better Costs

Face it; there are a ton of costs associated with running a trucking business. From gas to maintenance to commercial trucking insurance, your expenses add up. There is little you can do to control things like unrest in the middle east or global pandemics that raise the costs of fuel. You can do your best to keep your trucks up and running, but maintenance isn’t cheap, let alone repairs and replacements. The one thing you can control is your insurance costs, even though you can’t cut them completely out of your budget.

The best part is that there is far less risk in comparison shopping than there is going without or overpaying for insurance. In this day and age, you can get cheap truck insurance quotes from multiple companies without even leaving your office! It just takes a little time, but it’s well worth the effort. 

Just make sure that you compare the same kind of coverages from each company. Some truck insurance companies in California might seem like they have lower prices, but also offer more moderate levels of coverage and service.

2. The Right Kinds of Coverage

You may find that your trucking insurance company doesn’t offer the kinds of coverage you need. They may even try to talk you out of making changes to your business out of fear they’ll lose you as a customer. 

Let’s say you decide to purchase a few new vehicles for your company. You might qualify for fleet insurance, which can often be a more straightforward way to manage multiple vehicles under a single policy. If your current insurance provider doesn’t offer fleet coverage, you may end up missing out.

As your company grows and changes, you need an insurance company that can handle your needs. Not all insurers are created equally, so it’s worth investigating what’s out there to find a better fit.

3. More Perks

There are benefits of working with some insurance companies over others. The coverage you purchase is a great starting point, but it’s worth exploring additional perks. Some companies might offer accident forgiveness or bundled services. You might even find a truck insurance company in California that helps you locate or lead safety seminars geared towards creating better drivers.

Make sure to fully understand your policy and how any perks might work. When in doubt, ask your agent what options exist.

4. Bad Experience

If you’ve had a problem dealing with your current insurance company, that’s a sign that there may be additional problems in the future. Customer service is one of the most important elements in your commercial insurance policy. You can’t afford to wait days to hear back from your adjuster or have trouble filing a claim. 

You might find that your current company has hours that don’t mix with yours. Even if it’s not the cheapest commercial truck insurance in town, it’s worth having a responsive and reliable company on your side.

Excellent customer service experiences also include understanding your business. Let’s say you’re hauling hazardous materials when your truck is knocked off the road. An insurance company that doesn’t intimately know your business may not realize what’s at stake. Spilled chemicals can cause tons of damage if spilled and not managed right away. Your company could be on the hook for millions of roadway, vehicle, and environmental damages. 

An insurance provider who knows your business, however, understands that action is necessary right away. That means getting your accident site cleaned and contained while working on getting your truck back on the road right away.

When to NOT Switch Insurance Companies

Yes, you can shop for new policies at any time, even if you’re not quite ready to make a change. But it’s not usually a good idea to get quotes right after being involved in an accident or being convicted of making a traffic violation. These incidents will often raise your rates at your next renewal. 

That means you could pay your current rates for the remainder of your policy before possibly seeing a rate change. If you try to switch companies right after, you’ll experience that rate change immediately.

How to Switch Commercial Trucking Insurance Policies

Once you find a better option for your trucking insurance needs, it’s often a simple process to make the switch. You do want to understand your current policy and double-check that you are moving to the correct types of coverage. 

It might behoove you to wait until the renewal period arrives. Some policies have penalties and fees for early termination. You might even get a better deal from your current provider when you call to tell them you’re making a change.

Make sure to enroll in the new coverage so that there are no gaps in your policies. You can usually choose your exact start date. It’s also worth enrolling in online bill pay or automatic billing. This not only helps keep you from missing a payment but could also potentially earn you a discount. 

The Best, Cheapest Commercial Truck Insurance is Just a Phone Call Away

Whether you’re happy with your current insurance company or not, you owe it to your business to investigate if there are better options. Searching for cheap truck insurance quotes can be done online or over the phone, and the time is well worth the effort. Switching companies is a simple process, but it takes due diligence to ensure you’re getting the right insurance for your needs. Take your time and make sure the switch is overall worth it. You’ll be glad that you did.

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How to Build a Profitable Owner Operator Business

7/20/2020

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The need for trucking businesses in the United States seems to only grow with each passing month. From more companies building additional hubs to increase distribution efficiency to more people shopping online, there is a tremendous opportunity for the right entrepreneur looking to get into the trucking game in California. 

Of course, simply starting a new company isn’t enough. You want to build a profitable owner-operator business and get ahead. Even if you already have a successful trucking business, you can always look for ways to make improvements and increase profits. Being a great trucker doesn’t necessarily translate into running a great company.

From obtaining the proper licensing to getting the best commercial truck insurance, here are some things you should consider:

Select the Best Niche Market

One of the first steps to building a profitable trucking business is to define your niche market. Even if you’re already in business, having a clearly defined market can help you make decisions. You can also always pivot into new markets that might perform a little better. The niche you choose will determine many aspects of your business like:

  1. the equipment you buy
  2. the kinds of drivers you need
  3. how you’ll market
  4. even what types of commercial trucking insurance plans you will need!

There are a variety of markets that you can choose, and you’re not necessarily stuck to just one if you can find a way to make them overlap or you already have the right gear. As an owner-operator, you’re best off selecting a market that large carriers don’t do. That might mean picking more specialized loads. General markets have a ton of competition, and it may be difficult for an owner-operator to compete with some of the larger carriers.

New owner-operators can look for areas that have high needs and low competition. If that market offers year-round work and resistance to recessions, it’s an even better choice. Hauling fresh produce and meat in refrigerated trucks (reefers) is just one example. You may Visit us at.

Determine Your Operating Costs and Rates

As an owner-operator, you need to have a full understanding of your costs. Without knowing what it costs to do business, there’s no way to actually see if you’re making a profit. 

Start With Figuring Out Your Fixed Costs

These are the costs that stay the same regardless of how many miles you drive. Some of these examples include:

  1. Rent for your office or warehouse space
  2. Employee salaries
  3. Insurance
  4. Truck rental

You may find there are areas you can cut here that will save your company money. For example, downsizing office space or finding cheap commercial truck insurance can make a huge impact.

You’ll Also Need to Figure Out Your Variable Costs

These are costs that change depending on how much work you do. Fuel is a great example, as is vehicle maintenance. The more miles you drive, the higher these costs are going to be.

Get Your All-in-Cost Per Mile

Take your fixed and variable costs to determine your all-in-cost per mile. This represents how much it costs you to do a job. If you subtract this rate from how much you charge, you get an idea of your profit. It’s definitely worth working with an experienced accountant to get an accurate view of your operations costs.

Figure Out Your Rate

You also need to know how you’re going to charge your clients. Your rate needs to be enough to cover your operating expenses plus put some kind of profit in your pocket. You’ll need to have rates set up before you start making sales, so this is an important step.

If you’re not sure what to charge, there is a trick you can use to get an idea of the going rates. The easiest thing to do is find several loads similar to what you want to haul. Call the brokers and find out how much they pay for these shipments. You can use this to get an average price for a load going a certain distance. This average is a great place to start. Typically, owner-operators can add 10 to 15% on top of the broker fee.

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Be Smart About Fuel

Whether your trucks run on gasoline or diesel, fuel is one of your most significant expenses. Owner-operators are often fooled by thinking that purchasing fuel based on pump price is the cheapest way to make this purchase. While this line of thinking makes sense for regular drivers, it can cost truckers hundreds or thousands of dollars more each year.

The most prominent element to consider is taxes. Regular automobile drivers pay taxes in the state where they purchase the fuel. That means the lowest pump price is the lowest price overall. 

Truckers, however, must work with the International Fuel Tax Association (IFTA). That means truckers pay taxes based on fuel used as they drive through different states, regardless of where they purchase their fuel. The most prudent way to buy fuel is to look for the cheapest base price, which is the fuel price minus the tax.

Shop Around for Cheap Trucking Insurance

Another of your highest costs involves your commercial trucking insurance. As an owner-operator, you won’t be covered the same way as an employee for a large trucking company. You are responsible for your own coverage. You may check Socal Truck Ins.

Since this fixed cost will have recurring premiums regardless of the work that you do, you want to find the cheapest commercial truck insurance that fits your needs.

Your truck insurance costs are determined by a number of factors: your driving record, the type of truck you own, the kinds of cargo you haul, and more. You’ll want to evaluate your business and get the right commercial truck insurance to keep you protected. 

While trucking insurance is a substantial part of your budget, the right company will help keep your business running. Not only do states like California require certain levels of coverage, but being fully covered means you won’t have to come up with cash to fix or replace your truck if an accident happens.

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4 Things You Need to Know Before Buying a Semi Truck

7/17/2020

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Whether you’re thinking about getting into the trucking business or simply want to add another truck to your fleet, buying a semi-truck is a big deal. Not only do you have to find a good deal, but you’ll have to deal with getting additional semi-truck insurance. There is a lot to consider when making this big purchase, but the rewards will pay you back exponentially.

Here are 4 things you need to know before buying a Semi Truck

1. Decide if You’ll Buy New or Used

Nothing beats a shiny, right-off-the-assembly-line big rig. At the same time, there are plenty of great used options that will save you a little money. Of course, there are plenty of advantages and disadvantages to both options. The way you’ll shop for each choice will also vary, so it’s best to have an idea of how you want to shop before you proceed.

Why Buy a NEW Semi-truck?

A brand new truck is going to be loaded with the most modern technology and mechanical features. That means greater reliability and updated safety systems. Having a safer vehicle can help you better trucking insurance quotes. Newer trucks are less likely to experience engine trouble or deal with other issues. You might also get a generous warranty that helps keep things running.

Of course, the downside of a brand new truck is that it’s going to have a higher price tag. That means you’ll pay more in taxes, semi-truck insurance, etc. Buying a new truck might be out of reach if you’re just starting out.

Why Buy a USED Semi-truck?

The lower price of a used truck might be the most attractive part of this option. The savings extend to taxes and should help you find cheap truckers insurance. These trucks have been worn in and are often still in great shape. 

The downside is that having a ton of miles can lead to mechanical issues sooner than they would with a new truck. Buying a used vehicle can be a bit more complicated and requires taking a closer look (or drive) before you even make an offer.

2. Know What You’re Looking For

While you’re deciding if you can afford a new truck or want to take your chances with a used option. It’s also crucial that you know what kind of truck is going to help your business. Many people intermix terms and use the title “semi truck” to refer to any commercial vehicle. With the variety of trucks and the different kinds of cargo available, you want to shop with a purpose.

Some of the most common types of trucks include:

  • Tractors: these heavy-duty towing machines are the actual “trucks” that haul a trailer, tanker, or container.
  • Pickup Trucks: From lightweight options people use for their daily commutes to the heavy-duty options that fill construction sites, pickup trucks are a popular option.
  • Tow Trucks: as the name implies, are used to tow or move other vehicles.
  • Box Trucks: These trucks have a box or cubed shaped cargo container. They’re great for moving things, which is why they’re very popular with moving companies.
  • Dump Trucks: Dump trucks are used to move dirk, rock, soil, trash, debris, and other things from construction sites.
  • Tank Truck: Liquids and gases need to be transported in special containers. Tanker trucks are often larger than ordinary semi-trucks.

Knowing which kind of cargo you want to haul can help you determine which truck is best for you. Purchasing a tractor is often the most versatile option, but a focused purchase will make the most sense overall. Keep in mind that all trucking insurance companies in California are going to require information about your truck, regardless of which type you decide to buy.

3. Make a Checklist

Prepare a list of everything that you want to inspect when considering a truck purchase. There are various items that should be on every inspection list: brake pads, hoses, axles, tire treat, and belts, to name a few.

Make sure that you start the engine and let it idle for a few minutes. Take some time to listen to the sound that the engine makes. Listen for squeaks, squeals, rattles, and thumps. Does the exhaust kick out too much smoke? Does anything seem out of order? 

Now it’s time to take it for a spin. You should never, ever skip taking a test drive. If possible, hook up the truck to a trailer and get a feel for how it handles and runs.

You’ll also want to inspect the cabin. Just think of all of the hours you’ll spend inside your truck driving from place to place. Check everything from the comfort of the seats to how well you fit in the sleeping compartment.

Regardless of whether you’re looking at new or used, you should come in prepared to examine the parts that are important to you. Keep track of which things are going to be expensive to fix or replace and decide appropriately.

4. Don’t Forget: Shop Around for Trucking Insurance Quotes!

Once you’ve found truck options that you like, shop around for semi truck insurance quotes. While you may not get the precise cost to insure a particular option, you should be able to get an idea of what it will cost. Your trucking insurance quote may not be a significant factor in your purchasing decision; it is an essential element in your truck’s overall cost.

It’s always prudent to shop around for cheap trucker’s insurance. Make sure to compare similar kinds of coverages together to ensure it’s an accurate comparison. Also, keep in mind that price isn’t the only thing that matters when it comes to trucking insurance companies in California. You want a company that understands your business has stellar customer service, and reliable ratings/reviews.
If you’re looking to buy a semi-truck, make sure to call SoCal Truck Insurance to get a free consultation and quote. We can help you understand the kinds of coverage that will best protect your business while also providing the cheapest insurance in town. Call or stop by our website today.

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What Can You Do to Control Your Truck Insurance Premiums?

7/15/2020

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  • Commercial truck insurance is one of the most prominent parts of your company’s budget. This fixed cost is not only required by state law, but is a prudent way to ensure your company stays protected in the case of an accident. 

While some companies experience riding truck insurance costs each year and feel like things are out of control, commercial trucking insurance expenses are not something you can cut from your budget. However it IS essential that you find ways to control your truck insurance costs without putting your company at risk.

Since your truck insurance company considers a number of factors when determining your insurance premiums, you’ll definitely want to know what these are. You can then make a proper plan to ensure that you’re getting the cheapest truck insurance possible for your business – without sacrificing safety. Click here to Find out more.

Here are just some of the things you can do to impact your truck insurance costs:

Focus On Your Drivers

The men and women who operate your commercial vehicles play a huge role in what you pay for your truck insurance costs. Whether you hire drivers outright, deal with contracting companies, or use independent owners/operators, you can drastically lower your premiums by hiring the right people. Insurance companies want to know about those you employ and will even look at their driving records.

Look for Experienced Drivers

The number of years your drivers have been on the road makes a difference. Experienced drivers are more likely to avoid accidents. They should also know more about dealing with poor weather, long routes, and other working conditions. While that doesn’t mean you shouldn’t work with newer drivers, it does mean that you should focus on having plenty of seasoned veterans with at least two years of CDL experience on the job.

Take note, though: While younger truck drivers tend to be involved in more accidents, it’s illegal to make hiring decisions entirely on age. Be careful that you look for actual experience over a particular age when making hiring decisions.

Examine Employment History

A driver with a resume that shows a constant change of companies in a short amount of time might raise a red flag for insurance providers. They are going to wonder why these drivers have moved around so much and if it was due to unsafe driving practices. Drivers who have worked with companies for extended periods of time appear safer. This stability not only shows that these drivers are of a higher caliber, but that they are more familiar with their equipment and routes.

Go for Clean Driving Records

Insurance companies are going to look at the driving history of every driver you employ. If someone has accidents and violations in their report, they are considered a higher risk. Drivers with a clean record are less of a threat in the eyes of providers. Of course, since commercial truck drivers are on the road more often than other motorists, they are more likely to have something on their records. Look for drivers with no more than two minor moving violations in three years.

Focus on Your Equipment

Beyond looking at your drivers, insurance companies also want to examine the types of trucks your company operates. Regardless of whether you own your trucks outright or lease vehicles, insurance companies care about the equipment you use. If you do lease your vehicles, your leasing company may also require specific levels of insurance, so check with them before committing to a provider.

Newer Trucks Result in Cheap Truck Insurance

The age and condition of your equipment has a massive impact on your overall premiums. Older vehicles are more likely to break down or have outdated safety designs. Modern vehicles have advanced technologies geared towards avoiding accidents and keeping passengers safe in an accident. Insurance companies see newer trucks as carrying lower overall risks. 

While it’s not always feasible to completely replace your fleet, making even a slow trade for new vehicles will pay for itself in insurance savings. When possible, stick to trucks that are no older than ten years.

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Maintain Your Fleet

You want to have records showing that your trucks undergo regular maintenance, including the installation of any new equipment. Trucks with a few more years on them can hold up rather well if they are correctly maintained. You can also update many elements of your vehicles to keep them safer on the road.

Polish Your DOT Safety Record

Make sure you keep an eye on your DOT safety record and do your best to keep in good standing. Your DOT safety record includes your owner-operator or fleet DOT safety rating, Safestat and inspection, ISS-2 scores, violations, and more.

Focus on Your Business

The final element insurance companies look at when creating commercial insurance quotes is your business. A well-managed company is more likely to operate safely.

Stay in Business Without Coverage Laps

Staying in business under the same name and maintaining your trucking authority goes a long way to reducing the cost of your trucking insurance rates. New trucking operations are viewed as higher risks and will have higher prices. Staying in business also means making sure that you don’t have any gaps in your commercial truck insurance.

Invest in Safety Programs

A commitment to staying safe is a great way to reduce insurance costs. These programs don’t only impress providers, but they reduce accidents at work. Safe drivers will bring down your insurance costs and other costs that come from injuries, delayed shipments, etc. due to accidents. Putting drivers through safe driving programs is a great place to start.

Consider a Higher Deductible

After you’ve implemented new policies and practices, you might find that your monthly premiums aren’t exactly where you want them to be. You can also adjust your deductible to bring down your costs. Doing this will mean paying higher upfront costs after an accident, so you want to select a deductible that is not going to put your company in a bad position later on.

Compare Costs and Save

If you’re looking for the best commercial truck insurance costs available, make sure to shop around. At Socal Truck Ins, we work with businesses large and small to find the best-fit insurance programs for their needs and budget. Call us today to request your no-obligation quote today.

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3 Documents You Need to Prepare in Filing Big Rig Insurance Claims

7/7/2020

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While you do everything you can to avoid getting into an accident, it can happen. After the dust settles, California truck insurance companies are going to step in to assess the damage and work to get you back on the road. While it would be great if all of the insurance work just happened overnight, there are some items to which you’ll need to attend.

Here is an overview of the documents and steps you’ll need to prepare for your commercial trucking insurance claim.

Safety First

But before getting into the details regarding documents, it’s crucial that you have a plan in place post-accident. Taking the right steps at the scene of the incident can save you a great deal of time and money down the road. 

Because semi-trucks are so large and haul substantial amounts of cargo or hazardous materials, accidents can be more severe than typical automotive collisions.

If your truck is involved in an accident, make sure you do the following:

  • Stay at the scene of the crash. While it might be tempting to get back on the road and complete your delivery, leaving right away could get your incident labeled as a hit and run. You should move your truck to a safe location as necessary and possible.
  • Check for injuries and call for medical assistance as required. Be prepared to call 911 and to file a police report.
  • Take photos and videos of the accident, scene, etc. for evidence.
  • Exchange information with other drivers and witnesses. Avoid making any statements about the accident.
  • Contact your commercial trucking insurance carrier and follow their advice.
  • Seek medical attention. You may not want to go to the doctor right away, but delaying could exacerbate your injuries. You also run the risk that insurance companies will deny medical claims if they aren’t tended to right away.

The Best Way to Deal with an Insurance Claim is to Avoid it

While your commercial trucking insurance policy exists to protect you and your business, insurance claims can be time-consuming and stressful. Working towards avoiding accidents altogether gives you the best return on your investment while also helping you get the cheapest truck insurance rates. 

Here are some tips to help reduce the number of claims your company has to file:

Hire Safe Drivers

The people who drive for your company impact your truck insurance quotes more than any other factor. When you’re hiring an employee or contractor, make sure to check their driving histories. You want truckers who have experience on the road and few to no accidents or violations on their records. Those with a poor history are more likely to get into accidents in the future, which means more work filing those insurance claims.

Invest in Training

It’s never a bad idea to equip your drivers with the tools they need to avoid accidents. Talk to your California truck insurance company about recommended safety courses. You may even get a discount on your insurance rates once your drivers have passed certain courses.

Maintain Your Fleet

Regular maintenance like oil changes, checking tire pressure, and so on help keep vehicles operating safely and appropriately. Big rigs with mechanical issues could break down or cause the driver to lose control. These accidents can cost your company a great deal of money and cause insurance rates to skyrocket.

Make a List and Check it Twice

Create a checklist for employees on what they should examine pre-departure along with safe driving tips. Get your drivers in the habit of following this checklist on every route.

Also read our blog on What Insurance Coverage Do You Need for Your Trucking Business

What Do You Need to File an Insurance Claim?

When you contact your insurance company, you’ll want to have a few pieces of information handy. It’s prudent to have this information prepared along with an accident checklist that you can keep in your truck. If your company handles filing the claim for your drivers, have this information compiled in a safe place. 

Valid Insurance Policy

You want to make sure that you have a current insurance policy. The full policy paperwork should be kept in a safe place in your office, but drivers should have a declarations page or insurance card. The policy needs to be up-to-date. It will also have contact information to reach your agent in the case of an accident.

Drivers License

While you may not need your license to file your insurance claim, you always want to have it with you while driving the big rig. If the police arrive to inspect the scene, they will need proof that you have the appropriate license to operate your vehicle.

Cargo Paperwork

In the case of an accident where the cargo was damaged or came loose from your truck, you may need proof of what was in your truck. If materials are hazardous, this paperwork will help the authorities know how to deal with the spill and what precautions to take to protect the public.

Additional Advice When Filing a Claim

Every accident will happen under different circumstances with different results. In general, you’ll need to provide your California truck insurance company with detailed information about the incident. Moreover, you’ll want to consider the following tips:

  • Report and damages or injuries to your insurance company as soon as you are able
  • Make sure to keep paying your premiums while your insurance company works out your claim
  • Take steps to protect your property and/or clean up any cargo spills, etc.
  • Be honest about the circumstances of the incident. Cooperate with the adjuster and allow them access to investigate the scene
  • If there are multiple insurance companies involved, share information with both parties

Get Help When You Need It

When shopping for the best and cheapest trucking insurance around, make sure to get truck insurance quotes from multiple companies. A good trucking insurance company will not just offer great coverage but will be with you the entire way. When you work with So Cal Truck Insurance, you’ll have the hands-on support you need to handle any accident that might come your way. Call to get your free trucking insurance quote today.

The post 3 Documents You Need to Prepare in Filing Big Rig Insurance Claims appeared first on SoCal Truck Insurance.



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What Insurance Coverage Do You Need for Your Trucking Business

7/6/2020

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Whether you are an owner/operator or a manager running an entire fleet of trucks, you’re going to need commercial truck insurance in California. Every state has a minimum amount of commercial truck insurance required, but California companies have to be extra careful. 

Beyond the bare minimum, there are many insurance options out there to cover a variety of needs. Your options will vary depending on the type of trucks you employ, your drivers, the kind of cargo you carry, and more. Your specific plan will consist of a few different types of coverage to protect your unique needs.

Even though there is no such thing as a one-size-fits-all commercial truck insurance package, here is what you need to know about what you’ll need:

Understanding Commercial Truck Insurance in California

Just like you are required to carry some form of liability insurance for your personal vehicle, commercial vehicles need to carry insurance as well. Of course, commercial truck insurance can get more complicated since there are more factors to consider.

Commercial trucking insurance is used to cover instances where your truck hauls products, customers, materials, animals, etc. Essentially, you need commercial coverage if you use your vehicle for business. Your policy helps protect property and people from the damage your truck causes. From here, you can build your policy to meet your company’s specific needs.

https://www.socaltruckins.com/commercial-truck-insurance-california/

The Most Common Types of Commercial Trucking Insurance

While every company and trucker has unique trucking insurance needs, there are several more common types of coverage to consider. It’s crucial that you examine the needs of your business to get the appropriate truck insurance quotes. Here are just some of the common policies:

Primary Auto Liability

Federal and California state laws require that you have primary liability. Every truck in your fleet, even if it’s leased, needs to carry commercial trucking insurance. Primarily liability protects you in case a third party is injured from an accident.

General Liability

Every state also requires general liability coverage. General liability covers you if one of your drivers causes property damage or injures someone due to an accident. It also includes a driver’s action on someone else’s property, like at a loading dock or truck stop. General liability also helps cover mistakes made during delivery.

Physical Damage

If your truck or trailer is damaged from acts of vandalism, collision, theft, or natural disasters, physical damage coverage will pay for repairs. If the damage is so extensive that repairs are not possible, this coverage will pay to replace the truck or trailer. The kind of vehicles and equipment you use will determine your truck insurance quote.

Bobtail

Also known as non-trucking liability coverage, bobtail insurance is used for times when a truck driver is behind the wheel of the truck for personal reasons or off of dispatch. This insurance doesn’t protect a driver when they’re on the clock or making money hauling something, but it does work almost any other time, like in between jobs.

Motor Truck Cargo

Motor Truck Cargo protects you if something happens to the cargo while in your procession. From cargo being stolen or lost to damage caused by theft, this coverage helps keep you protected. Your insurance quote will depend on the type of cargo that you haul.

Rental Reimbursement

If you need to rent a replacement truck while your commercial truck is being repaired, rental reimbursement covers that cost.

Trailer Interchange

Trailer interchange insurance is a physical damage policy for trailers being pulled under a trailer interchange agreement. Essentially, if your non-owned trailer is damaged by collision, fire, theft, vandalism, explosion, etc.,

Medical Payment

While every state varies in how this coverage works, medical payment coverage pays for you or your passengers’ medical bills that are incurred while driving or riding in the truck.

Uninsured/Underinsured Motorists

If another driver causes an accident and doesn’t have sufficient insurance to cover the damage, uninsured/underinsured motorists coverage will make up for what they lack.

Reefer Breakdown Coverage

If part of your trucking business deals with driving refrigerated trucks, you may want reefer breakdown coverage to protect you in case of refrigeration breakdown, lost cargo, or damage to products in a collision.

Finding Cheap Commercial Truck Insurance

Once you determine which kinds of insurance coverages are best for your company, you’ll want to make sure you get a reasonable price. Commercial trucking insurance is one of the most significant fixed costs in the trucking business, so you definitely stand to save with a good deal.

Understand How Insurance Quotes Are Formed

When insurance companies are creating your commercial insurance quote, they are looking at several things:

  • What types of coverage you need
  • The kind of cargo you haul, where you haul it, and how it is stored
  • The types and number of vehicles in your fleet
  • The driving records of your drivers
  • Your company’s safety and inspection history

Compare Commercial Truck Insurance

One of the best ways to ensure that you’re not only getting the right kind of coverage at the right price is to get insurance quotes from multiple companies. It’s crucial that you compare similar coverages from each company to ensure that you’re comparing apples to apples. 

If you already have a commercial trucking insurance policy, you can use your declaration page to act as the foundation to compare new options. It’s worth exploring new insurance quotes at least once every year or so to ensure that you continue to have the best rate.

It’s also worth evaluating your needs each year. You may find that certain coverages are no longer needed or that you need protection in new areas. If nothing else, it’s beneficial to take stock of your insurance coverage and needs on a regular basis, even if nothing changes. To learn more Visit this link.

Commercial Trucking Insurance You Can Rely On

Whether you’ve been in the trucking business for a long time or are just starting out, you need to stay on top of your commercial trucking insurance. It is easy to keep things as they’ve always been, but you need to evaluate your needs and shop around each year.
At Socal Truck Ins, we understand your daily risks or needs and pride ourselves on offering the best coverage for your business. Get a free consultation and quote, and call today.



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5 Absolute Best Tips For Motor Truck Cargo Insurance

7/6/2020

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Do you need to ensure your commercial trucking business or fleet with motor truck insurance? Or are you an independent truck driver involved in the transportation of high-value commodities and you are worried about being held liable for any loss or damage to the cargo?

There is no need to worry as motor truck cargo insurance is a solution that anyone in all types of the commercial trucking business should have. Read more about Socal Truck Ins.

What Will Be Covered?

Motor truck insurance will cover you on any liability from loss or damage to your cargo or freight. This may be from an accident leading to damage of the cargo, fire, or theft. This insurance will cover the person transporting the cargo or the company transporting. It will provide protection on the damage or loss that occurred from the departure of the cargo until the shipment is over.

How does it work?

The truck owner or the transportation business buys a policy from a trucking insurance company for this type of policy that will cover the cargo up to a specific monetary limit. The policies that are in force at the time of damage or loss to the cargo, will provide coverage for the loss incurred. This will be to recover as close as possible to the entire amount of the damage or loss.

Motor truck cargo insurance has a requirement from state governments to make sure the trucker also purchases primary liability insurance. This liability insurance is responsible for covering damages and injuries done to other people and property.

This is for damage that takes place at the time the truck is involved in an accident and afterward after an assessment is done. Motor truck cargo insurance tends to remain the same over time without any major changes to their terms and policies.

Contract Carriers and Common Carriers

Motor truck cargo insurance will most often cover contracts and common carriers. The common carriers will include the trucker who delivers the cargo shipment to any person or organization. The contract carrier, on the other hand, includes the specific shipper who is under the contract on motor truck cargo insurance.

In situations where common carriers are not covered by motor truck cargo insurance, they will become liable for damages caused during shipment except for acts of God. The contract carriers will become liable only under the specified conditions laid out from the contract between the trucker and the shipper.

An act of God will include a variety of occurrences which would be unpredictable and nothing can be done to change its occurrence. This becomes an exception on both the contract carrier and common carrier. These are accidents in which no one had any influence over them and caused by nature. They include damages and losses caused by; wildfires, earthquakes, hurricanes, tsunamis, tornados, public enemy, improper cargo loading, and extreme weather states leading to spoilage of the cargo.

List of Goods or a Bill of Lading

In the case of cargo damage or loss, a copy of the bill of lading is supposed to be provided by a common carrier to the claim adjuster. This will be used in filing a claim to be indemnified by the truck insurance company on the loss or damage experienced. The bill of lading is a receipt indicating that you are covered as well as a shipping contract of the cargo being transported.

This document will indicate the date in which the cargo was being shipped, the shipment cargo and what it included, the destination the cargo was expected and the day the cargo was expected to be delivered. It will also include the value of the trucker’s liability insurance. On the other hand, the contract carriers will have their details indicated in the specific contract which requires being given to the claims adjuster when the claim is being filed. Motor truck cargo insurance protects your needs associated with the transportation of your cargo.

Purchasing motor truck insurance

The purchase of the motor truck cargo insurance will be dependent on a variety of items which determine the rules of the contract.

The set policies will differ depending on;

  • The types of commodities being transported – Highly perishable goods on the cargo will contain a different policy compared to cargo with less perishable goods.
  • The value of the cargo – Highly valued cargo contains different policies compared with a cargo of low value.
  • Destination of the cargo – Some destinations are very sensitive and prone to more risks compared to others leading to differences in a contract policy.
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Limitations To Consider

While purchasing a motor truck cargo insurance policy, the type of the commodity might include limitations and exclusions which can lead to high deductions and some limits towards your insurance policy. Exclusion in a policy includes a case in which the insurance company may choose to keep an occurrence as exempt e.g. theft may be withheld from the coverage of the policy. In addition to this, they may also have some limitations on the policy in which the insurance company limits the amount they will indemnify the cargo. It will include the total in which the insurance company will pay on the policy.

There are some cargo shipments that are not included in a motor truck cargo insurancepolicy. Especially ones that are termed as difficult cargo e.g. high-valued commodities and those whose probabilities in damage cause is very high. The following will include these limitations;

  • Jewelry
  • Money
  • Art
  • Animals
  • Tobacco
  • Alcohol
  • Explosives
  • Paper
  • Pharmaceuticals

In addition to this, commercial truck insurance will not cover any passenger in the transportation process as only the trucker is covered by the use of this policy, Get it here.



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Ways to Lessen Your Truck Insurance Premium

7/3/2020

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Small fleets and independent owner-operators in California often have to reconcile commercial trucking insurance costs and the crucial protection these policies provide. Unfortunately, truck insurance is not a business expense that you can simply cut out of your budget. Luckily, there is a way to get cheap truck insurance that still works for your business. It might take a little work, but saving on truck insurance costs is a worthwhile effort to bring your overall costs down.

Since commercial trucking insurance companies consider a variety of factors when determining your rates, here are some things you can do to help make those California premiums more manageable:

Higher Deductibles Lower Premiums

While altering your deductible might not be the first step you try to lower your monthly premiums, you’d be surprised to know that it is an extremely effective tool in your arsenal. Your deductible is the out-of-pocket costs you incur before your insurance policy kicks in. 

For example, let’s say you have a policy with a $1,000 deductible and get into an accident that requires $8,000 for repairs. You would first pay $1,000 out-of-pocket before your insurance company pays the $7,000 difference. If you were to raise your deductible to $5,000, you would see a drop in your monthly rates. Of course, this would also mean you’d be responsible for more out-of-pocket costs.

Before you call your commercial trucking insurance company to discuss moving to a higher deductible, there are a few things you should consider:

  • Can You Afford the Higher Deductible? 

You should only consider raising the bar if you have the cash on hand to cover the cost of an accident. You’ll want to look at your accident history to determine how often you may need this cash on hand. Someone who averages two accidents a year will need more available cash than someone who has a clean history.

  • Will You Actually Save Money? 

Do the math to decide if the decrease in monthly payments actually saves money overall. For example, going from a $500 to $1,000 deductible might save you 10% on your yearly costs. So instead of paying a $1000 premium, you spend $900 each year. You save $100 in payments, but if there is an accident, you will pay an extra $500. This plan could cost you $400 more for a single accident and may not be worth it. Work with your insurance agent to determine what makes the most sense.

  • Do You Like Risk? 

A higher deductible is a higher risk, so you’ll want to know how comfortable you are with it.

  • What Are Your Trucks Worth? 

More expensive vehicles cost more to insure. A higher deductible might make more sense. If a truck isn’t worth much, so a high deductible may not work. For example, if the deductible is $1,000 and repairs would only cost $500, you would just pay for the entire thing out of pocket without help from your insurance company.

Also read our blog post on What Can You Do to Control Your Truck Insurance Premiums

Focus on Safety for Cheap Truck Insurance

Commercial trucking insurance costs are a reflection of risk. Your insurance company looks at various factors to determine the potential risks and costs of an accident. If you are less likely to get into an accident, your insurance costs should decrease. Even though accidents can’t always be controlled, there are several steps you can take to give your team the best chance of safe driving.

  • Hire Experienced Drivers

People who have been behind the wheel of a big rig longer are less likely to cause an accident. They understand how their truck handles, have the ability to deal with poor weather, and even know when it’s unsafe to drive. Look for drivers with at least two years’ experience.

  • Hire Clean Drivers

Truckers with clean driving records will help lower your overall costs. People with a history of accidents and violations are viewed as a higher risk. Find drivers who have fewer than two minor violations in the last three years.

  • Double-check Employment Histories

When you’re hiring drivers, look at their history. Those who have moved from company to company are often viewed as a higher risk than those with stable positions.

  • Invest in Training

There are various programs that help teach drivers to be safer on the road. Not only will these types of classes give you better drivers with fewer incidents, but you’ll see some relief on your truck insurance costs.

Equipment Matters

The kinds of trucks you operate also play a role in your truck insurance costs. Insurance companies know they may end up paying to repair or replace a truck, so newer trucks might come with higher rates. At the same time, older vehicles are more likely to have mechanical problems that lead to accidents. It’s typically a better idea to have a newer truck than something older. When possible, stick to trucks built in the last ten years. It’s also crucial to keep your fleet maintained and serviced regularly.

Another thing to consider is what kind of cargo you haul. While you may be less inclined or able to make changes in this area, your cargo is worth considering. Hazardous materials are more expensive to insure because they pose more significant risks. If you are hauling more hazardous cargo, make sure you have the right kinds of equipment to reduce the chance of spills or other accidents.

Insurance companies are also going to look at how cargo is stored and how far it is being hauled. Since many policies also cover damage from natural causes or theft, they want to ensure you’re doing the right things to keep your cargo safe. The longer the cargo is on the road, the more likely it can be stolen or damaged, so that plays a role as well.

While you can’t change everything about the equipment you have, you might be able to make different decisions to keep up your workload while attempting to lower your truck insurance costs.

Commercial Trucking Build Around You

When in doubt, talk to your commercial trucking insurance provider for ways you can save. There may be discounts or programs available that you’d not considered. You might also need to shop around for a better insurance provider. There is nothing wrong with looking for the cheapest truck insurance every so often to ensure you’re getting the best coverage at the best rates.
While you’re shopping around, don’t forget to call So Cal Truck Insurance for a free quote. We know your business and want to help you get the best insurance available at the best possible price.

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