Large Deductible Retention

Reduce premiums with large deductible retention.

A large deductible retention policy is a premium-reducing tool you can leverage as part of your trucking company's insurance program.

In a nutshell, deductible retention is a dollar amount that your company agrees to pay before your insurance policy responds. If your trucking company focuses on loss prevention and has a safety culture in place, you may be a great candidate for this premium-reducing tool.

At Great West, we offer large deductible retention policies to financially stable motor carriers who want more “skin in the game.”

Key benefits of a large deductible retention policy

Reduced premiums
Improved cash flow (because no pre-funding of losses is required)
Awareness of loss-related expenses
Deeper knowledge of how claims are managed, settled, and paid out
Greater control of your risk management programs
Potential for a reduction in your overall insurance costs

How does Great West’s large deductible retention work?

A large deductible retention is a contractual agreement between your trucking company and Great West where your company agrees to pay up to a set dollar limit—say $25,000—of each claim before your insurance policy responds. The retention amount can be customized to suit your business’s needs. The contract itemizes how the cost of claims is divided and defines how claims are handled by both your team and Great West.

We’ve found the option of splitting claims responsibility is a way for trucking companies, especially those that are new to large deductible retention, to monitor their loss-related expenses.

The Best Candidates for a Large Deductible Retention Policy

A large deductible retention can be a great fit if you’re a motor carrier that would like to reduce your overall insurance cost and take a greater role in managing and funding your risk.

Large deductible retentions are not ideal for all motor carriers. Trucking companies that choose large deductible retentions are counting on their premium savings outweighing the costs of the losses they’ll fund. That typically means risk-averse companies are not good candidates.

Large deductible retentions, though, can provide a financial advantage to risk-tolerant motor carriers that can meet specific qualifications.

Qualifications for a Large Deductible Retention

The team at Great West will help you evaluate a number of factors that can guide your decision to employ large deductible retentions. These include the size of your trucking company, your safety program, your financial condition, your loss history, and your risk tolerance. These will help assess your company’s ability to administer and fund the deductible you select without creating a significant drain on your bottom line.

Guidelines for Companies Considering a Large Deductible Retention

These guidelines will provide a picture of your trucking company’s ability to retain losses and your potential to reduce your overall insurance cost using large deductible retention.

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Size

You have more than 40 revenue-generating units, a stable financial standing, and staff capacity to manage claims

Size

You have more than 40 revenue-generating units, a stable financial standing, and staff capacity to manage claims

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Finances

You can handle the costs of a loss, premiums, and deposits, in addition to an opening collateral requirement

Finances

You can handle the costs of a loss, premiums, and deposits, in addition to an opening collateral requirement

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Insurance History

The type of insurance program your company has previously had, and how long you’ve been with Great West or your current carrier

Insurance History

The type of insurance program your company has previously had, and how long you’ve been with Great West or your current carrier

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Safety

You have a safety director and a safety culture in place that promotes the safe operations of the truck line

Safety

You have a safety director and a safety culture in place that promotes the safe operations of the truck line

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Loss Control

You have a focus on loss reduction and a history of controlling the frequency and severity of claims

Loss Control

You have a focus on loss reduction and a history of controlling the frequency and severity of claims

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Risk Tolerance

Your company is willing to accept a higher threshold for risk

Risk Tolerance

Your company is willing to accept a higher threshold for risk

Insurance Contracts are Underwritten, Administered, and Issued by: Great West Casualty Company, Old Republic Life Insurance Company, and Old Republic Union Insurance Company.

One or more Old Republic companies may provide the products and/or services described. Information presented is for illustrative purposes only and does not constitute a contract or advice, including employment advice or advice to motor carriers. Please refer to the relevant insurance policy for actual terms. Products and services may not be available in all states and may be subject to change without notice. © 2026 Old Republic International Corporation. Old Republic® and the Old Republic Circle of Stars monogram are registered trademarks. All Rights Reserved.

RISK FINANCING
Large Deductible Retention

Reduce premiums with large deductible retention.

Key benefits of a large deductible retention policy

How does Great West’s large deductible retention work?

A Company That Understands Trucking

The Best Candidates for a Large Deductible Retention Policy

Qualifications for a Large Deductible Retention

Guidelines for Companies Considering a Large Deductible Retention