Though commercial trucks could make you a ton of money, they sometimes attract significant risks. For instance, a commercial truck that transports hazardous materials could accidentally cause a spill and damage property. Furthermore, because most trucks are large, they could easily be involved in an accident.

While commercial truck companies can reduce some of these risks through preventive measures, the unfortunate truth is that accidents do happen. And since victims of these accidents require compensation, commercial truck companies need insurance to cover any unexpected damages.

Here's how commercial truck companies can lower their insurance premiums. 

Map Out Your Routes 

Your company might not have control over the routes your trucks take. However, if you can choose your truck routes, the following tips can help minimize your risk of road accidents:

• Avoid highways and roads with high-speed limits
• Drive during off-peak hours
• Take alternate routes that have less traffic

In addition, you could reduce the number of hours your truck driver uses the truck during the week. And if you have a loaded truck, you could park it overnight and unload it once traffic begins to clear in the morning. If you can maintain an accident-free record, your insurer could charge lower premiums for insurance.

Increase Your Deductibles

Once you opt for a higher deductible, your insurance costs could reduce. However, higher deductibles come with certain conditions.

For example, you might pay more out of pocket after an accident with a high deductible. If you settle for a deductible amount of $1,000 and hit a pedestrian who incurs $30,000 in medical bills, you need to pay the first $1,000 for your insurer to pay the remaining $29,000. But, if you opt for a higher deductible of $5,000 and cause damages worth $30,000, you have to first pay $5,000 before your insurance steps in.

The advantage is that you pay less in premiums. This might prove to be a cost-effective strategy for your business in the long run.

Get Newer Truck Models

While you could purchase old commercial trucks at a low cost, consider them more likely to break down due to aging or faulty parts. These defective parts could increase your risk of an accident. So, if you can pay extra for a new commercial truck, you might get a model that has the latest safety features.

For instance, if you purchase a new commercial truck with an anti-lock braking system (ABS), you could reduce your risk of accidents. You could also opt for a commercial truck with stability control and airbags. This way, you decrease your chances of getting into an accident. Models with these features could reduce your risk of accidents and lower your commercial truck insurance costs.