What Factors Affect the Cost of Truck Insurance?
When taking out a truck insurance policy, there are a number of things that will affect its cost.
In order to help you understand truck insurance better and maybe even save some money, below are the biggest factors that affect the cost of truck insurance.
Your age is one of the biggest factors that will affect how much you pay for truck insurance. Unfortunately if you’re under the age of 25 then you can expect to pay considerably more. This is because young drivers are more likely to be involved in collisions, either due to being more reckless or having less experience behind the wheel.
Your driving experience
Your driving experience is another factor that will affect what you pay for truck insurance. It’s particularly pertinent how much experience you’ve had driving a truck. You might have been driving for 10 years but only have very little experience driving a truck. Trucks are typically very large vehicles that are difficult and potentially dangerous to drive so insurance providers with certainly take this into account when coming up with a price for your policy.
Your criminal record
If you have any criminal or driving convictions then this is another factor that will quite heavily affect how much you pay for truck insurance. In fact, people with criminal convictions will often get their insurance from specialist providers since they cannot find it at an affordable rate elsewhere.
The size of your truck
The size of your truck will impact how much you pay for truck insurance too. Larger trucks generally cost more to insure since they’re typically more expensive and more likely to be involved in incidents that require a claim.
The level of cover you get
The level of cover you get will of course impact how much you pay too. If you’re on a limited budget then a no-frills third party only policy is the cheapest option. The more cover options you add, the more you can expect to pay.