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Carrier reviewing insurance costs

How To Keep Your Insurance Costs Low

While insurance is necessary to legally operate a CMV, the cost associated to it is not cheap – especially within your first year of business. Fortunately, there are a few tips and tricks that you can utilize that will help keep your insurance costs low.

  1. Annual DOT Update
    While you are only required to update your DOT# every two years, updating it annually will show that you are actively involved in your safety. This also tells insurance companies that you are probably a lower risk driver, which can result in a lower insurance cost for you.

  2. Keep Your CSA Score Low
    Your CSA score is a critical indicator of your safe performance as a driver. A lower CSA score typically indicates a safer driving record, which insurance companies view favorably. For tips on how to keep your CSA score from rising, check out our blog HERE!

  3. Consider Your Routes
    The routes you choose to haul your loads can significantly impact your risk exposure and, ultimately, your insurance costs. If you're transporting loads in heavily congested areas, the risk of accidents rises. Check to see if you can take less congested routes for hauling your loads. A small change in your routes can help decrease your costs.

  4. Properly Indicating What You Are Transporting
    Many carriers typically select ‘general freight’ on their DOT update. If you only haul specific products, be sure to note that on your DOT update, as it can help reduce your insurance costs.

  5. Dash Cams
    Many insurance companies offer discounts if a dash cam with driver-facing capability is installed in their insured units. Samsara offers driver-facing dash cams and has a comprehensive Vehicle Monitoring System (VMS) that can track driver behavior and give fleet managers the opportunity to coach poor behavior.

  6. Defensive Driver Training
    Ask your insurance company if they offer or accept defensive driving training completion certificates for insurance discounts.

  7. Longevity of DOT/MC number
    Insurance costs will significantly decrease as you continue to gain years of experience.

By implementing one or multiple tips mentioned above, you can gradually decrease your insurance costs by demonstrating your commitment to safety and responsibility as a driver.