When Was the Last Time You Had an Annual Insurance Review for Your Trucking Company?

Do you own a trucking company or a business with a trucking fleet? When was the last time you had an annual insurance review? In case you never did or forgot to, then you are not alone. Most trucking companies often forget to look into insurance reviews resulting in a lapse in their coverage and costing them a hefty sum.

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How Much Does Flatbed Truck Insurance Cost?

flatbed truck

A flatbed truck is a giant vehicle with a flat and open bed.  The bed doesn’t attach any roof, sides, and railing.  This feature makes flatbed trucks ideal for carrying or delivering awkward, heavy loads that don’t fit into trucks with railings. The open flatbed enables loaders or drivers to load and unload things easily.

Of course, the goods and loads that a flatbed carries are not susceptible to wind or rain damage. It’s because it’s not fragile. The tie-down hooks in a flatbed truck not only fasten to the load but also secure it.

While a flatbed truck is an easy and convenient solution to carry heavy loads, it typically has a higher percentage of getting involved in accidents. It mostly happens if the cargo is strapped or tied incorrectly or it’s hard to see around it. Therefore, the higher risk of crashes and accidents leads to higher insurance costs.

If you own a flatbed truck or run a fleet, learning about flatbed truck insurance costs can help choose the right insurance company.

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One of the Reasons Your Trucking Insurance is High: Fraud

truck accident

There is no denying that scams and fraud are everywhere. If you’ve been in truck fleeting for a long time, chances are you’re already familiar with people who’ve lied or cheated to get insurance money.

While stopping them is difficult, you can consider various solutions to protect your business by learning about the common trucking scams. Here is a primer of one of the most common scams in trucking industry-“Insurance”. Having an in-depth understanding of fraud related insurance will help you figure out the reasons why your trucking insurance is high.

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What is the MCS90?

mcs90

You might have heard many definitions of MCS90 if you belong to the commercial trucking industry.  However, if you believe that the MCS90 endorsement can help you cover the compensation for the injuries, you’re mistaken. There is a lot of misunderstanding around MCS90 endorsement coverage that may mislead truckers or commercial trucking companies. Let’s dive into the details to clear the mist around MCS90 endorsement to help you understand what it is and what is not.

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The Insurance Act Attempts to Increase the Minimum Insurance Requirement by 556%

how the insurance act can affect you

There is no denying that the rate of trucking insurance has skyrocketed over the years. Despite these increases, many insurers are experiencing huge losses. It shows that the insurance industry, particularly associated to transportation, continue to face the challenging time.

The latest INSURANCE act HR.2687 is an attempt to increase the minimum insurance requirements for all trucking companies. Presented by Chuy Gracia –  U.S. Representative, the legislation is applicable to all commercial motor vehicles.

Insurance legislation aims to protect the families involved in truck crashes from financial devastation. It has stirred a debate among truckers.

If you belong to the trucking industry, learning about how the new INSURANCE act HR.2687 will impact you.

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Can Technology Help You Lower Your Trucking Insurance Cost?

The use of technology can help your trucking insurance

Did you know that litigation of truck accidents has increased significantly?

Whether you have a transportation company or a trucking fleet, managing insurance may be a daunting task.  We say this because legal settlements are on the rise and premiums are increasing.  Plus, the equipment has become more costly.  The new legislation has drastically changed the way people measure and understand safety.

With the insurance landscape shifting, drivers are opting for new technologies to keep themselves safe and lower their insurance. Technology plays a key role in enabling technology adapters to decrease risks in the driver’s seat.  Also, many auto insurance companies offer discounts to their policyholders for installing vehicle safety devices or demonstrating safe driving.

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How Do I Keep My Truck Drivers Happy?

Certain vehicles require the driver to carry a CDL.

Earning as a truck driver means long working hours and unwavering commitment and responsibility towards the job. Most truck drivers are fatigued and stressed due to the overwhelming pressure to stay secure while hauling heavy loads within the deadline.

Keep in mind that happy truck drivers are not only satisfied, but also more productive. If you run a logistics company, keeping your truck drivers happy should be your top priority.  After all, without a happy or productive driver, there is no way you can deliver things to your destination.

From keeping your safety scores clean and offering rewards, you need to do everything to keep your truck driver happy. Meeting your DOT inspection requirements and safety scores are two primary ways you can retain a driver who drives safely, is familiar with the routes, and works well with dispatch for the long term.

Here are some top-tier ways you can keep your truck driver happy and retain them.

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How to Get the Best Rates on Trucking Insurance in Texas

When it is about getting the best rates for your truck insurance needs, you have several choices to choose from. That is why it is essential to know which factors impact the insurance rate and techniques to choose the ones that fit your driving needs the best.  

It doesn’t end here; to get the best rates, you must be aware of the requirements and costs of truck insurance in Texas. 

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Cut Truck Insurance Costs with These Helpful Tactics and Tips

Truck insurance costs are no joke. That is why trucking businesses need to take advantage of every opportunity you have to save on these expenses. While you do not want to sacrifice service in order to get these lower prices, there are things you can do that will help your organization save big when it comes to truck insurance costs, including the things listed below.

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