truck

Whatever type of truck you drive, you know that there are tons of risks involved. Handling more heavy-duty vehicles means being more responsible and cautious of every other driver on the road. So, it’s important to learn proper safety and how to protect your drivers if something happens. These preventative measures can range anywhere from proper training to truck monitoring.

Protecting your drivers from risks also includes truck insurance. However, it’s not enough to know the basics of coverage. Fleet owners must know the best types of insurance to protect their unique company. For instance, an insurance plan for a towing company in one region can be completely different from a reefer truck fleet’s in another location. Therefore, shopping for trucking insurance means knowing your company and all of the specific risks you face.

Here, we’ll go over all you need to know about trucking. We’ll walk you through what types of risks commercial trucks face and trucking news. We’ll also cover what types of trucking insurance you’ll need and how to save on the best coverage for your business.

What to Do When a Receiver Rejects a Cargo Load

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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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Women in Trucking

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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

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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?

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“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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The Impact of the $1.2 Trillion Infrastructure Bill on the Trucking Industry

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The trucking industry has had issues with retaining their drivers and growing their fleets for years. This issue is somewhat related to the new rules and regulations in the trucking industry. The $1.2 trillion infrastructure bill, in this regard, is no exception. The bill is expected to have a significant impact on truckers and fleets.

Apparently, the bill aims to improve the water systems, railways, and highways throughout the country. As a result, the government plans to set aside more than $110 billion for infrastructure work. The remaining funds will be used to improve ports, public transit, and railroads.

The bill includes regulations that will have a large impact on fleets. Whether you’re a trucker or own a fleet, learning how the infrastructure bill will impact your business is crucial.

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5 Helpful Tips to Save on Operational Costs

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Managing operational efficiency by cutting costs is one of the important parts of a fleet manager’s job. Though it’s not something new for the experienced trucker, factors like supply chain disruptions, lost workdays, and decreasing operational costs have made it a significant issue.

That is to say, with plenty of overheads such as asset maintenance and fuel charges, fleet managers need new ways to reduce operational costs.

Here we enlist five ways you can optimize your operational expenses.

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This Year’s Top Heavy Duty Pickup Trucks

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Regular pickup trucks make the right choice when you just want to cruise around or handle light tasks. However, if you need to haul heavy stuff and transport shipments, only heavy-duty pickup trucks can do the job. Perfect for any heavyweights in the trucking business, HD pickups can serve your particular purpose.

However, with tons of options available, choosing the right heavy-duty pickup truck can overwhelm you. Don’t fret if you’re inexperienced in choosing an HD pickup truck. We have you covered with a list of the most reliable options to pick from.

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How to Lower Your Truck Insurance Rates with Technology

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Did you know that unwarranted lawsuits, damage from crashes, and costs that come with transporting goods has spiked significantly?

This has caused commercial transportation insurance to rise, making this subject the biggest concern for fleet leaders. According to the American Transportation Research Institute, increasing insurance costs is the fifth largest issue truckers face.

Due to an increase in claims being filed, most insurance carriers have increased their premium rates. Increasing insurance premiums has gradually turned into a trend over the years.

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The FMCSA’s Drug and Alcohol Clearinghouse Linked to Driver Shortage

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The driver shortage in different parts of the US has become a persistent problem. This complicated issue ultimately ties into multiple lifestyle choices according to Bob Costello, Chief Economist of American Trucking Associations.

The trucking industry is experiencing a significant shortage of truck drivers and needs an additional 60,800 truckers to progress. The booming industry will need more than 105,000 truckers by 2023 if hiring efforts do not improve.

Costello identified many factors worsening the shortage of drivers, including the pandemic’s effects on vehicle and driver schools. Many fleet companies are also not willing to pay drivers their desired amount. Also, some will often cancel the contract if drivers visit their homes frequently.

Another major factor that Costello associated with the driver shortage is Drug and Alcohol Clearinghouse from the FMCSA. It’s the database that contains information regarding drug and alcohol violations of commercial drivers. Though ATA considers FMCSA’s Drug and Alcohol Clearinghouse a beneficial step, it has impacted the driver pool.

If you run a truck fleet, learning how FMCSA’s Drug and Alcohol Clearinghouse contributes to the issue of driver shortage is beneficial.

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