Why You Need Uninsured Motorist Coverage for Your Truck

trucking accident

Accidents on the road are far too common, especially among truck drivers. Given the type of vehicle they’re driving and the cargo they’re hauling, you can see why accidents happen frequently.

Given the amount of accidents that occur, you would think the drivers would have proper insurance coverage. While that’s certainly the case most of the time, there are exceptions. If the at fault truck driver doesn’t have insurance or they’re underinsured, you’ll be in a tough spot. Regardless, here’s what to do if you ever find yourself in this situation.

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Commercial Auto Insurance vs. Personal Auto Insurance

busy highway

Personal auto insurance covers most four-wheel vehicles such as trucks, vans, and cars that are for personal use only. However, if these vehicles are for business use then commercial auto insurance is required. All businesses require some sort of insurance for their vehicles.

Commercial auto insurance is required in the trucking industry because it offers unique coverage that personal auto wouldn’t. Specifically, it  protects against the many risks involved with operating a large truck carrying expensive goods.

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What to Do When a Receiver Rejects a Cargo Load

cargo load

Oftentimes, when a receiver rejects a cargo load, it costs a significant amount of time, fuel, and transport products. From the viewpoint of sustainability, it may negate some prior fuel efficiency and cost savings.

It doesn’t end here, some carriers may end up canceling their next shipment. As a result, they’ll need to spend a lot of time and effort in rerouting. It can very well hold up the entire disposition process of the trucks for months in many cases.

Moreover, if you look at the problem from the perspective of shippers, even a single product rejection incurs additional shipping costs and may cause the entire truckload to go to waste. To make the matter worse, this may strain the relationship with the carriers and receivers.

Getting your cargo load rejected by the receiver can be a headache if you don’t know how to deal with it. Here is what you need to know.

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Love’s is Celebrating Truck Drivers in September

truck stop

Did you know Love’s Travel Stops is all set to celebrate National Truck Driver Appreciation during September 12th through the 18th?

The renowned company plans to give away more than 14 million rewards points in September. The appreciation week will include hundreds of winners (on a daily basis). It will also reward one person with 1 million reward points at the end of the month.

It doesn’t end here as the company announces some amazing deals, including delicious snacks, drinks, and food for free for the truck drivers. Drivers who are a rewards members can also get some of the special deals such as a free oil change.

Whether you’re a new truck driver or have been in the industry for years, learning about My Love Rewards can help you win plenty of exciting prizes and gifts.

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Women in Trucking

The shortage of truck drivers has become one of the most prominent challenges for the trucking industry. According to the latest report from the American Trucking Association, currently, the industry is short by 60,000 truckers, which is a nearly 20 percent increase from last year.

The association has warned that if this shortage continues, it may increase to 160,000 by 2028. To meet the rising demand for truck drivers, the niche acknowledges the requirement to hire more truck drivers. Currently, the industry has only 47 percent women drivers.

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Canal Insurance Company Improves Credit Rating

Did you know that recently AM Best improved Canal Insurance’s financial strength rating from a B++ (good) to A- (excellent?)

It has an impact on the long-term insurance rating of Canal Indemnity and Canal Insurance, collectively known as “Canal Group”. The improved rating shows the strength of Canal’s balance sheet. AM Best has determined their sheet and credit rating as stable and stronger in contrast to their previous ones.

In addition to the balance sheet, Canal Insurance Company has strengthened its limited business profile, operating performance, and enterprise risk management. Typically, the upgraded ratings reflect an improvement in operational performance. These took place due to re-underwriting initiatives the management introduced many years ago.

Management is now manifesting these initiatives shown in reported results. The management used to be more conservative in terms of reserving practice and eliminating the past year’s reserves loss development. However, things have changed significantly with their strengthened financial position.

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How Much Does Insurance for a Used Truck Cost?

“How much does insurance for a used truck cost” is one of the common questions drivers ask before they buy. Though the cost of these trucks is often low, the price you pay every year varies depending on factors like driving history, the state you live in, and cargo type.

For instance, if you have operators with impeccable driving history, you may need to pay $10,000 to $15,000 per used commercial truck. Here is a quick overview of different types of coverage commercial truck drivers hold.

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