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Common Insurance Risks in the Trucking Industry

Truckers are exposed to various risks, and truck drivers and many trucking companies face the crucial risk of lost and damaged cargo. Truck-related accidents are on the rise due to many reasons, such as excessive cell phone usage while driving, careless driving, or sleep deprivation.

In addition to bodily injuries, the increasing number of accidents results in hefty payments. The costly payouts are the major reason why many commercial insurance companies exit the market.

As the industry is exposed to risky situations, understanding the insurance needs of commercial trucking is crucial. When you know the risks and the type of insurance that can protect you, you can be better prepared if an accident happens.

Here is a breakdown of some common risks you may face in the trucking industry.

Common Risks in the Trucking Industry

It’s important to have a clear understanding of the potential risks in the trucking industry to choose quality trucking insurance. Some of the most common risks in the sector include:

Truck Driver Shortages

The driver shortage has become one of the serious issues in the trucking industry. According to a recent  FMCSA report, this shortage will likely increase in the next decade. It can negatively impact the ability of the trucking industry to meet the needs of the stakeholders.

The problem is aggravating due to the parallel trend with driver turnover. The high turnover rate also leads to less performance consistency and demand for experienced drivers. Note that inexperienced drivers are considered “high risk. ” It makes buying proper insurance even more important for the fleet.

Parking Issues

More than 84 percent of truckers admitted in a recent survey that they park in unauthorized areas most of the time. The trend is higher in more congested and crowded cities. This is because finding space to park big rigs is hard.

Note that the more time a trucker takes to reach the destination, the more money it costs. That’s why most drivers park in non-designated areas and that leads to claim exposures.

Negative Impact on Health

In general, truckers have to sit idle behind the wheel for the entire day. They often have to drive long distances most of the night. The sedentary lifestyle is the major contributor to various health issues. Here is a glimpse of what health problems this job can cause:

  • Loading, unloading, and lifting heavy cargo can cause musculoskeletal injuries
  • Exposure to fuel fumes may lead to many respiratory issues
  • Stress
  • Exposure to harmful chemicals
  • Driving for hours leads to fatigue
  • Obesity/weight gain due to an inactive routine

Summing Up

Trucking companies take risks when they send drivers out on the roads with commercial trucks. From health issues to parking problems, the industry faces a lot. Thus, they need commercial insurance to protect the drivers and vehicles.



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