Why You Need an Insurance Broker for Your Trucking Business

Why You Need an Insurance Broker for Your Trucking Business

trucking auto liability market

Liability insurance is a necessity for a trucking business; that’s just a fact of life. With the current state of the trucking auto liability market, you need an insurance broker to help you locate the coverage you need at a price that you can afford.

Volatility

Auto liability premiums have been increasing for trucking companies in the last five years or so. The hardest hit are the smaller companies, with fleets of less than 100 trucks, and those new to the business. It’s gotten to the point where some carriers have stopped offering trucking insurance altogether, and the price of insurance alone has recently caused truckers who had intended to start a new trucking business to rethink their plans.

Specialization

All is not lost, however. Working with an insurance broker with specialized knowledge of trucking insurance will help you to navigate the twists and turns of the market. A broker is not a sales representative of an insurance company but works on your behalf to discover all the different alternatives and present you with the best options.

Claims and Challenges

The relationship doesn’t end once the policy is signed, however. A specialist in trucking insurance will be able to help you with any claims that may arise, as well as guide you in complying with new regulations, such as the electronic logging device mandate.

With the volatility and challenges specific in the trucking auto liability market, you need someone in your corner to represent your interests. That person is an insurance broker.