Moving truck insurance is hard to get a rate for. Most agencies aren’t trained in commercial insurance, and they don’t know the first thing about movers. That’s why we’ve set up this page, which connects businesses with three insurance agents who specialize in moving truck insurance. They each will give you a unique rate and you can choose which price best fits your business. Get started now.
What Is the Average Rate for Moving Truck Insurance?
Several factors go into determining the rate you pay for moving truck insurance. The length of time you’ve been in business, the driving history of your employees, what state you operate in, the area you cover, and the value of your vehicle all contributes to how large or small your rate ultimately is. One business could pay as little as $2000 a year per truck while another business could pay as much as $10,000 a year per truck.
However, on average, you can expect your rate to be between $4,000 and $6,500 per vehicle.
How to Lower the Rate You Pay for Mover Truck Insurance
The rate that you pay isn’t set in stone. There are a few things that business owners can do to reduce their moving truck insurance rate.
Opt for a high deductible – Every moving truck insurance policy stipulates a deductible amount. That is, how much you pay out-of-pocket following an accident. When you structure your policy with a high deductible, you are choosing to pay more in the event of a wreck, but you usually reduce your rate in doing so.
Opt for a low limit – Moving truck insurance policies also include a limit, or the maximum amount the insurance company will dish out for any single given accident. A limit of $1,000,000 covers the costs of any accident up to a million dollars. Anything else is your repsonsibility. When you choose a low limit, you also reduce the rate of your policy
Choose a beneficial payment plan – When you pay on a year-to-year basis, the insurance company will often cut you a deal and reduce your overall rate.
Avoid unnecessary coverages – The only coverages you absolutely need, legally speaking, are auto liability insurance and cargo insurance. Insurance agents will offer you other (often useful) coverages, but they will add to the rate of your policy
Shop around – The single best thing you can do to lower your rate is to compare multiple agents. We’ve made this part easy. With our Request 3 Quotes page, you can get in touch with three moving truck insurance agents at once who’ll compete for your policy.