Large construction companies often face unique challenges when it comes to insuring their commercial vehicle fleets. These businesses rely heavily on trucks and other vehicles to get jobs done, making commercial auto insurance essential to protect against accidents and damage. Central Insurance, a company specializing in this area, offers insights on how large construction firms can better manage their fleet insurance policies.
A commercial fleet insurance policy typically covers two main things: property damage to vehicles and liability for injuries or damage caused to others. But pricing these policies depends on many factors. Basics like the type of business, where it operates, and the number and size of vehicles all play a role. For construction companies, additional details matter—such as the type of vehicles, how far they usually travel, what cargo they carry, and even if drivers receive specific training.
Mitch Gearhart from Central Insurance points out that bigger trucks have higher rates because they pose more risk. For example, medium-sized trucks weigh between 10,000 and 20,000 pounds and have a higher rate than smaller vehicles. Heavy tractor-trailers cost even more, especially if they travel long distances or haul heavy loads, which can increase the chance of accidents.
Central’s experts also stress the importance of managing insurance carefully as a large construction firm grows. First, companies need to review their certificates of insurance to meet different job site requirements. Some projects require higher coverage limits, and having an insurer that understands these needs can save headaches.
Another tip is to consider advanced deductible programs. Bigger companies can often afford larger deductibles and benefit by improving safety to reduce claims. Jason McConkey from Central suggests regular vehicle maintenance, daily inspections, and annual motor vehicle record checks for all drivers—even the experienced ones—to keep rates down.
Safety on the road is just as important as safety on the job site. Using telematics technology, like dash cams, helps track driver behavior and provides tools for better training. Companies with more than 20 or 30 vehicles should think about hiring a fleet safety compliance manager to oversee these programs.
Drivers themselves are a major factor in insurance costs. Strong hiring practices, including background checks, drug testing, and clear accident procedures, can protect both vehicles and rates. Central Insurance can help companies set up these programs and support them if a loss occurs, minimizing project delays.
Finally, Central Insurance highlights the role of their construction underwriting specialists. These professionals visit job sites, assess risks, and offer advice on improving safety and managing insurance better. Matt Sbordone, one of their specialists, says building trust and relationships with clients is key. Having someone who understands the specific challenges construction companies face can make a big difference.
For large construction businesses looking for the right commercial auto insurance, working with an experienced and specialized insurer like Central Insurance offers valuable support. Their agents and teams provide tailored guidance to protect fleets and keep projects running smoothly.