Trucking Trends for 2020

In the past year alone, the trucking industry has gone through a number of wild changes in how companies operate and the kind of trucks that are making their way on the road. From self-driving trucks to changes in how drivers are classified in some states to a whole new shipping and receiving ball game after the spread of COVID-19, the trucking industry is almost nothing like its past. Here are some of the industry trends that trucking is seeing in 2020 and how they will affect it moving forward.

Tech Advancements

Practically every industry has been disrupted and rerouted by technology. While most of these changes are helpful, they have been hard to adapt to in some cases. Technology has caused major improvements to trucking trends. Corporate offices are using software programs to help make their operations more streamlined and effective and trucks are beginning to incorporate smart technology to improve overall functionality.

Tracking orders is also something that has caused many trucking companies to have to set up technology that helps keep goods on schedule. This is helping customers stay updated on where their orders are while also helping trucking companies adapt to a more user-friendly and fast-paced industry.

Liability Insurance Will Rise

A number of trucking business failures last year listed increased insurance costs as a major cause of being forced to close their doors. Commercial truck insurance claims related to trucking crashes have risen in frequency over the last decade and premiums have not kept up. This has resulted in a much tighter commercial truck insurance market. However, having this kind of insurance is a must for trucking companies, especially as the numbers of crashes rise.

Commercial truck insurance is needed in order to operate safely and responsibly. Trucking companies should work with their provider to find ways to operate with the right level of commercial truck insurance while also keeping their doors open.

More Mergers

Some trucking companies are having to close their doors as a result of bad business and some are having to close up shop due to COVID-19. But many companies are choosing to merge with other companies in order to keep the fire going.

Some companies are choosing to merge with existing trucking companies to be able to put together the resources and make it through these confusing and challenging times. This lets companies continue their operations and even expand into new territories. Another route that trucking companies are taking in merging is to merge with a company of a different industry to be able to expand the range of service they can provide to customers.

E-Commerce

The ecommerce industry may be the single-most effective influence in the trucking trends world. People are shopping online more than in the store and they expect their products to get to them fast and free. Amazon, for example, has completely changed the way trucking is done, even outfitting its own trucks to get orders in on time. However, it’s important to understand that the ecommerce industry cannot work without the help of the trucking industry and its professionals. Because ecommerce is likely to see more growth, especially with more people staying home and shopping online due to COVID-19, it would make sense that the trucking industry will see some more growth as well.

About Western Truck Insurance Services

Western Truck Insurance Services is a commercial truck insurance agency with roots dating back to 1954. We have evolved into a highly respected, professionally managed, truck and transportation insurance brokerage. The hallmark of our organization is our desire to provide unparalleled service. We go way beyond what you expect to receive from an insurance brokerage. Equipped with state of the art automation, Western Truck Insurance can provide you with lightning fast truck insurance quotes, customer service, Insurance certificates, and coverage changes. Contact us today at (800) 937-8785 to learn more!

The Most Common Causes of Truck Insurance Claims

Trucking companies put a lot on the line when their drivers are out on the road. Not only are there logistical matters to tend to, such as getting orders delivered in full and on time, but there are safety concerns to keep in mind. There are a number of reasons why things might not go according to plan for every freight assignment, which is why truck insurance options are there for trucking companies looking to keep their operations financially supported.

According to the Federal Motor Carrier Safety Administration (FMCSA), upwards of 475,000 crashes involving large commercial vehicles in the United States each year. This leads to costly losses that can do damage against a trucking company’s reputation and overall business growth. That’s why trucking liability insurance is a mandatory item, and that’s why it’s important to know the major causes of truck insurance claims.

Vehicle Breakdown

It’s every truck driver’s nightmare—being stranded on the side of the road with no help in sight. From flat tires to overheating to issues with brakes, there is a host of issues that can leave a commercial truck in the lurch.

For the latter, the FMCSA put out a study about brake-related issues. What the study found was that brakes have accounted for 29 percent of semi-truck accidents. A truck’s disc and drum brakes are exposed to consistent heat, pressure and friction, which, combined, cause wear and tear, especially without regular maintenance.

Driver Error

Truck drivers are just like regular commuters in that they have the same kinds of distractions when they’re behind the wheel. But it can be argued that they have it worse because of many other factors and things to consider.

If a truck driver is hauling freight too fast, it takes longer to slow down, which can lead to an accident. There are also recognition errors to consider, such as driver distraction, or performance issues that include overcompensating on the road while trying to make turns.

Loss & Damage

No matter what a truck driver carries on board, it’s all precious cargo. Whether it’s automobiles, electronics, or stuffed animals, all products on a truck have value to their owner. When a loss happens, this can cause a major worry for a client and bring about truck insurance claims that a trucking company doesn’t look forward to dealing with.

When a load is lost, the freight on the original bill of lading doesn’t make it to its destination. Or when something is damaged, it’s an issue related to the overall integrity of the products onboard. If there’s anything out of order or a problem with delivery, a trucking company can see major claims made against them.

About Western Truck Insurance Services

Western Truck Insurance Services is a commercial truck insurance agency with roots dating back to 1954. We have evolved into a highly respected, professionally managed, truck and transportation insurance brokerage. The hallmark of our organization is our desire to provide unparalleled service. We go way beyond what you expect to receive from an insurance brokerage. Equipped with state of the art automation, Western Truck Insurance can provide you with lightning fast truck insurance quotes, customer service, Insurance certificates and coverage changes.

What Owner-Operators Need to Know About Truck Insurance

The road to becoming an owner-operator of your own semi-truck, heading up your own fleet operations, can be long and arduous. Years of driving for someone else’s fleet and dealing with long hauls and unfavorable scheduling have finally paid off and it’s time to be your own boss. But while you may be excited to choose your own routes and raise your asking price for jobs, there’s still the matter of commercial truck insurance to handle.

It is a sure thing that all drivers have had their own association with commercial truck insuranceto some capacity in their careers. But when it comes time to manage your own operations, commercial truck insurance becomes even more imperative. What you have to keep in mind are variables like your role and responsibility towards freight brokers, motor carriers, shippers and clients. From choosing to lease with a larger company to dealing with safety concerns on the road, choosing the right program is needed when you step into the shoes of an owner-operator.

Liability Insurance

It’s good start with liability insurance coverage that protects you in the event of an accident. Even if your record behind the wheel is clean, it’s always important to have the right insurance coverage to provide the right financial support.  This is usually the most costly part of the owner operator insurance program.

About 4,000 people die in large truck/semi-truck crashes per year, not to mention many more who are injured due to other incidents involving fleet vehicles. When something like this occurs, it pays to have the right commercial truck insurance in your corner.

Physical Damage Insurance

Owner-operators should also look into physical damage insurance, which covers the current  value of your truck.. Gap insurance can also be purchased, much like automobile insurance, to help cover for the different between the value of a truck and any loan balance in the event the vehicle is totaled.

Cargo Insurance

Cargo insurance is also noted as a must insurance coverage. .  Truckers generally need to carry 100,000 in coverage, but current trends have this limit increasing especially considering  the type and value of the freight being hauled. Trucking professionals can also inquire about adding on load-specific motor truck cargo  insurance if they contract for a certain type of cargo.

Other Types of Commercial Truck Insurance

Owner-operators often haul someone else’s trailer. This can be covered by something called non-owned  trailer insurance. This kind of coverage protects the driver for damage to a trailer not owned. Owner-operators can also look at other coverages available meant to provide a full spectrum of support. From non-trucking liability, to General Liability,  Umbrella, and workers’ compensation, owner-operators have a full list of insurance options to stay protected.

About Western Truck Insurance Services

Western Truck Insurance Services is a commercial truck insurance agency with roots dating back to 1954. We have evolved into a highly respected, professionally managed, truck and transportation insurance brokerage. The hallmark of our organization is our desire to provide unparalleled service. We go way beyond what you expect to receive from an insurance brokerage. Equipped with state of the art automation, Western Truck Insurance can provide you with lightning fast truck insurance quotes, customer service, Insurance certificates and coverage changes.