Knowing the fundamental operations of Big Rig Trucks...
Against the backdrop of the fact that commercial big rig trucks play crucial roles towards advancing the progress of business activities and conveyance of heavy-loaded freight from one place to another, the big rig trucks are very valuable and a force to be reckoned with in the transportation of goods and materials.
More fundamentally, the big rig trucks otherwise known as trailer or lorry are a motor vehicle that is designed to transport cargo. It is important to state categorically that big rig trucks vary greatly in size, power, and configuration.
More often than not, the smaller varieties may be mechanically affiliated to some forms of automobiles. It should be noted that commercial trucks are extremely large and powerful. There is no gainsaying that it can be configured with different forms of specialized equipment such as; fire trucks, concrete mixers, suction excavators, and so on.
Worthy of note, however, is that modern commercial big rig trucks are largely powered by diesel engines thereby minimizing the cost of fuel, while small to medium size trucks are often powered by gasoline engines and they mostly exist in the US, Canada, and Mexico. It is to be particularly noted that, trucking is a major part of the U.S. economy. More factually, commercial big rig trucks make up the vast majority of the country's ground transportation of consumer goods and raw materials. To this end, the roles of big rig trucks cannot be underestimated.
In the light of the usefulness of commercial big rig trucks, buying a truck is regarded as a major investment. Whether you are a single owner-operator or you own a large fleet of trucks, it is interesting to know that it is an investment that will pay for itself many times over.
The Average Cost of Big Rig Trucks
There is a need to fundamentally state that commercial big rig trucks vary widely with regards to price. More specifically, the cost of each big rig truck is determined by the size of the truck. Its price can also be influenced by fuel efficiency, horsepower, and cargo capacity. It should be noted that the prices of new big rig trucks begin at around $80,000 and run up to $150,000 or more. In the same vein, the price tag could reach $200,000 if you opt for a large number of custom features.
More interestingly, there are a number of financing options that are available for buying commercial big rig trucks. In this regard, you can obtain a loan through the bank or take advantage of dealer financing. In most cases, a down payment is often required. It is noteworthy that leasing a truck is also another option to be considered. In this regard, there is no down payment required. More than any other time, this is usually the best option if you plan to upgrade your fleet of trucks every few years. After the lease term is up, you can trade in your semi-truck for a newer model.
How Is the Cost of Big Rig Insurance Determined?
Bearing in mind that commercial big rig trucks can be insured against any possible challenges, there are a number of factors to be considered when determining the cost of big rig insurance.
These factors chiefly include but not limited to;
- The truck’s market value
- The client’s driving record
- Experience
- Location
- The radius of operation
- Age
- Equipment
- Credit history
5 Ways to Lower Your Big Rig Insurance Rates
In an attempt to lower or reduce your commercial big rig insurance rates, the following are the crucial steps to be taken;
- Pay in Yearly Installments
- It is a truism that truckers who pay their whole big rig insurance premium at the beginning of the year save virtually 25% compared to truckers who pay in monthly installments.
- Ask Your Agent about Discounts
- More fundamentally, insurance companies offer discounts for a wide range of things. These include; veteran discounts, safe-driver discounts, and bundled coverage discounts, among others. Hence, ask your agent with the view of knowing what precisely you qualify for.
- Request a Higher Deductible
- It should be noted that the deductible is the amount you pay after an accident. To this end, if you opt for a higher deductible, you will be expected to pay more in the event of an accident, but your annual premium will drop by a small amount.
- Request a Lower Limit
- There is a need to know that your limit is the maximum amount the insurance company will pay after an accident. In this regard, a lower limit will not protect you against huge catastrophes, but it will save you on your premium. Therefore, always make sure that you follow your state’s minimum limit laws, and what makes sense for your business at all time.
- Shop Around
- Knowing full well that insurance companies have different prices and calculate risk differently, it is incumbent on you to contact multiple insurance companies with the aim of finding the best deal for your commercial big rig trucks.
What’s the Most Popular Truck in America?
Looking at the proliferation of commercial big rig trucks in the United States of American, there are top-notch companies to be reckoned with. These companies are referred to as the top-selling big rig trucks in America. They include, but not limited to;
- Freightliner
- Kenworth
- Peterbilt
- Navistar International
- Volvo