Like car insurance - truck insurance premiums are affected by the driver’s age, driving records and make of the vehicle, yet other factors that Code B drivers don’t have to worry about are the age of equipment, commodities being hauled, location of activities and losses as a result of run-ons.



There are some things though, that one can do to reduce their premiums:

• Maintain the truck and its components: this reduces the risk of damage caused to third and first parties from faulty equipment.
• Make sure your drivers have good driving records and keep them that way.
• The Department of Transport regulates the condition of trucks allowed on our roads. Find out what their conditions are and stick to them.
• Although it’s more expensive monthly, comprehensive insurance with cargo cover can save you more in the long run.
• Keep accurate records of previous insurance policies and be honest when signing a new truck insurance policy. If your insurer has reason to believe you were dishonest, they can reject your claim.
• Try and pay a higher excess to reduce your premium, but make sure you plan for this and can afford it when the time comes. Factor in excess interest.
• Adhere to all safety regulations. Keep extinguishers and warning stickers where they should be.
• Attend safety programmes and training. Your insurer will consider less risk if you know what to do in an emergency.
• Try purchasing direct insurance and look for competitive quotes online.
• If possible use the same company that provides you with cover for car or home insurance, for your truck. Most insurers will offer you a discount for having more than one policy with them.

While the cost of truck insurance is higher than that of car insurance, it is possible to reduce your premiums. Your insurer or broker should help you to find or work out a premium that suits you. If not, it might be time to find a new insurer.