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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The North Carolina Department of Transportation Introduces a New Alert System

Driver Safety Measurement System

The hi-tech in-cab trucking alert system piloted by the North Carolina Department of Transportation is gaining traction among truckers. The new technology plays an important role in reducing the risk of car accidents and crashes.

With a collaboration with the Intelligent Imaging System, the innovative pilot program offers a highly advanced truck messaging system that gives drivers real-time alerts about road conditions.  The alerts aim to help truckers prepare for the events like slowdowns or stopped traffic.

The technology is Canada-based and plays an important role in maintaining road safety, and can become a great tool for law enforcement and transportation agencies. Moreover, as the crash rate of commercial vehicles is on the rise, new technologies may help truckers obtain quicker settlements on insurance claims.

Let’s delve into the details and find out how the new alert system could benefit trucking companies and truckers.

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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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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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Get insurance for transporting equipment for business use

If you transport business equipment, you need to make sure you have the right insurance.

Commercial machines and equipment are always on the move. Semi trucks spend more than 140 billion miles on the road each year transporting goods and equipment across the United States. If you are an owner operator who delivers machines and equipment via your own tractor trailer, you need the right insurance to help keep you on the road. Here are 4 important truck insurance coverages that every owner-operator needs.

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Will my personal auto insurance cover my catering van?

If you have a catering van, it's important to make sure you have the right insurance.

Do you use a van to transport food for your catering business? Are you thinking about opening up a food truck business? If so, make sure you have the proper insurance coverage. Many people believe that their personal car insurance policy will cover their catering van for work use. However, this can be a costly mistake.

It is a common assumption that if you don’t operate a fleet of vehicles, then you don’t need commercial vehicle insurance. However, this is untrue. Vehicles used for business purposes, especially catering vans and food trucks, need special insurance to properly cover the food and equipment that they carry as well as the insurance to cover the vehicle. Not properly insuring your catering van can lead to costly consequences when it’s time to file a claim. So, here are some of the reasons why personal auto insurance won’t cut it when insuring your catering van.

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When should I review my commercial truck insurance policy?

There are certain times when it's especially necessary to review your truck insurance policy.

The well-being of your driver and others involved is important to you. So, if one of your truck drivers is involved in an accident, you need to know that your drivers, your business, and others involved in the accident will be properly helped and protected. You also need to know that you can quickly and safely get that truck back on the road. Otherwise, you’re taking a big hit to your bottom line.

If it’s been a while since you last reviewed your commercial truck insurance policy, you may not have the proper protection for your business. It’s important to review your policy on a regular basis before you file a claim that you may not be covered for. Here are 7 main times when you should especially review your commercial auto insurance.

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