Purchasing a motor truck cargo insurance in Downey requires you to pay a monthly insurance premium if you choose such an option. It is an inevitable monthly cost for protecting your truck.
The costs vary, though. Monthly rates from one truck insurance agency in Downey, California are different from another. But why is this the case?
The following are some of the factors that have an impact on the costs of your monthly insurance premiums:
- Poor driving record
If you have several driving violations and speeding tickets, you can expect the rates to go up. Your driving record will make insurers think that you have a high risk of damaging your truck, another person, or another property. As such, they will also have a high risk of covering the costs more frequently.
- The truck’s condition
Is your truck in good condition? How old is it? Both the condition and the age of your vehicle are also factors that affect the rates. The older the vehicle, the higher premium you will be paying for.
- Parking or storage area
Where do you park or store your truck? Is it a safe place? The location will also affect the rates. High-risk areas will also net higher premiums.