If you are a truck owner-operator and have an extended downtime, it might be tempting to take insurance off of your truck and trailer so you can try to save a few bucks while you are taking some time off—but it isn’t the best course of action to take!
Your truck is your livelihood, and just as much as a business would need a building to survive, you will need your truck to survive too! If something were to happen to it while it was parked, or someone were to steal it from where you have it stored—you would not be very happy if it was not insured!
Another reason to keep it insured would be that many insurance companies will not extend cheaper rates to you if you were to take insurance on and off it every time you took some time off of the road! Keeping your coverage constant looks better to insurers and they are more willing to cut you a break if you are a loyal and constant customer! Just remember, it’s never good to be penny wise and dollar foolish— especially when it comes to insurance!