Prevention – Saving on trucking insurance comes easy
So why would a blog devoted to trucking insurance begin by talking about safety? Because risk management practices are a major factor in the success of a trucking company. Take a peek at the comments at the end of this hot-topic blog. Precaution is part of the discussion, but so much is about balancing fuel costs with delivery schedules in the face of speed limiters enforcement. It should be about how it affects your trucking insurance.
Accidents and pay-outs don’t profit anyone. Except maybe lawyers
One of the main goals of my job as a broker in the trucking insurance industry is to promote safety in the industry as a whole. When time logs aren’t enforced, and hours of service aren’t monitored, or maintenance not kept up, you’re going to pay, and not only on your trucking insurance.
Non-compliance shows on trucking insurance premiums
Not only that, but if your company is reported as a risk, it won’t just reflect on your trucking insurance bottom line. I’m talking about things like your reputation. How you’re treated at weigh stations and at the border. You may get harassed with regular inspections from the FMCSA.
Shippers, brokers, customers and law enforcement are all looking at your safety scores and this site as well. It may make the difference between getting a load and losing a load. You may find law enforcement costing you more and not giving you a break.
Did you know that 5.5% of fatal truck crashes are caused by driver fatigue? I assure you that your trucking insurance company does.
Maybe you’re looking to cut costs to manage your cash flow. The truth is that insurers offering
trucking insurance look at your safety compliance first. If you’re too great a risk, you’re going to
Trucking insurance insurers turn over every rock
You can’t hide a poor record. And let’s face it, it makes my job harder when it’s time for you to renew your trucking insurance policy. And that’s a delay in your supply chain you can’t afford.
As a trucking insurance broker and specialist in the industry, it’s my job to work with you every step of the way. From negotiating with insurers when an accident happens, to renewing your policy. And I can tell you that a major expense and factor in how trucking insurance companies rate your risk is by your history of incidents and accidents.
Bottom line, to up your profit margin, start with your trucking insurance: but through risk management.
Safety equals savings. And savings are profit.