Risk Financing

Payment options that fit your needs

Great West offers many payment options for your trucking operation, dependent on your coverage. Great West can custom design a variety of risk-financing programs.


After determining an annual premium based on your trucking operations, Great West can break down your premium into monthly payments based on gross revenue, mileage, or the value of your equipment. Monthly payments may be particularly effective in dealing with budgets and to assist with cash flow issues.


Gross revenue method:

Your premium rate calculation is based on your company’s estimated annual gross revenue. Your premium payments are reflected by actual monthly revenue activity.

Mileage method:

Your premium rate calculation is based on the estimated annual mileage. The amount of laden and unladen mileage put on all insured units per month determines what you pay. The monthly premium reflects actual monthly mileage versus an estimate.

Per unit method:

Your premium is determined by reporting the actual number of revenue-generating power units in operation throughout the month.


Equipment value method: Your annual premium is based on the actual cash value of your equipment at the time the policy is issued. Monthly premium payments are adjusted according to your equipment’s depreciation schedule and the value of new, substituted, or deleted equipment as of the reporting date.

  • If you are a smaller carrier, we also offer installment premium payment plans based on the following criteria:
  • Nine or fewer units
    Less than $1 million in revenue
  • Fewer than 1 million miles

There are many trucking insurance companies to choose from. If you want an insurer who provides comprehensive coverages, understands trucking, and prides itself on exceptional 24/7 service, Great West is here to help.

Large Deductible Policies

If you’re a motor carrier that runs a safety-minded workplace and you’re focused on cost control, Great West provides Large Deductible risk financing options. These options are tailored to motor carriers who want to assume more risk for their operations.

A Large Deductible plan means your company funds the “first layer” of a loss. Your trucking company purchases Workers Compensation policy or truck policy with a minimum deductible. When a loss occurs, Great West provides administrative and claim-handling services, and your trucking company reimburses Great West for any losses below the per-claim deductible you’ve selected.

Deductible options for Workers Compensation start at $75,000. For truck insurance, they start at $25,000.

learn more

Guaranteed Cost

If you’re a trucking company that is budget conscious and prefers to keep your insurance costs stable, a Guaranteed Cost policy is a risk financing option that may be a good fit for you.

A Guaranteed Cost plan for your truck insurance or Workers Compensation policies is not subject to adjustment due to losses that occur during the policy term. 

learn more


Great West offers many payment options for your trucking operation, dependent on your coverage. Ask your agent about your options.

Payment Plans Truck Policies Excess Policies Work Comp Policies
1 Month Deposit, 1 Month Down, 11 Installments
20% Down - 8 Installments
20% Down - 9 Installments
20% Down - 10 Installments
20% Down - 11 Installments
25% Down - 6 Installments
25% Down - 8 Installments
25% Down - 9 Installments
25% Down - 10 Installments
30% Down - 3 Installments
30% Down - 6 Installments
30% Down - 8 Installments
30% Down - 9 Installments
30% Down - 10 Installments
33% Down - 5 Installments (Continuous)
33% Down - 5 Installments (Every other month)
35% Down - 3 Installments (Billed every 3 months)
35% Down - 6 Installments
35% Down - 8 Installments
35% Down - 9 Installments
35% Down - 10 Installments
Short-Term Options - Available for Full-Term Policies
3-Pay (Short-Term 25% Down - 2 Installments)
4-Pay (Short-Term 25% Down - 3 Installments)
3-Pay (Short-Term 50% Down - 2 Installments)