Are you an owner-operator who is just starting out in the trucking industry? If so, you have the potential to make up to $184,803, which is the average salary for this type of job. However, you will need to pay your own expenses. Some of the biggest owner-operator expenses include the purchase price of your truck, fuel, food, and the cost of maintenance and repairs for your truck. One more expense you'll need to cover is commercial truck insurance. For those just starting out, truck insurance can cost anywhere from $12,000 to $18,000. The good news is, there are some ways to lower this cost.

Here are three ways to lower commercial truck insurance costs for owner-operators.

1. Pay Annually Instead of Monthly

Because commercial truck insurance costs so much, it may be tempting to pay it in installments. However, if you are able to pay it annually, you will be able to save money on your premium. If you are not able to come up with that much money on an annual basis, you could still save money by paying it twice a year.

You may also be able to save money by choosing to have the payment automatically deducted from your checking account.

2. Keep Your Driving Record Clean

Your driving record is one of the primary things that determine your commercial truck insurance premium. Because of this, you'll want to keep your driving record clean. This means never going over the speed limit, not getting into accidents, and always driving defensively. Some safety tips to help you with your driving record include:

  • Be extra cautious when driving in inclement weather
  • Be well rested and don't drive when you're too tired
  • Avoid heavy traffic and peak traffic times
  • Inspect your truck and trailer on a regular basis

It takes much longer to stop a truck than it does the average vehicle. This is why it's also important to leave plenty of space between your truck and the vehicle ahead of you.

3. Shop Around for Insurance

When you shop around for commercial truck insurance, don't take the first quote you are given. It's always important to shop around for insurance as premiums vary greatly from one insurance company to the next. Even though this is going to take some time, it's worth it if you are looking for the least expensive insurance.

After some time has gone by, and you have maintained a clean driving record, you may want to shop around again for a lower rate.