Like taxes, insurance can be confusing. Many carriers, especially smaller carriers without dedicated insurance experts on the payroll, are at the mercy of an insurance provider. But armed with a little knowledge, carriers can make more informed purchasing decisions.
Many commercial trucking companies will never be impacted by cargo theft, but that doesn’t mean they shouldn’t be prepared. Cargo theft is a multi-million-dollar problem, and like all problems, somebody is going to pay for it.
Using onboard video cameras can not only reduce risky driving behaviors, they can also lead to a significant decrease in insurance premiums, with one fleet reporting it saw its insurance premiums drop 55%.
For the past 15 years, if a carrier needed some assistance getting over a rough time financially, there has been help available from lenders who specialize in transportation finance. One of those companies is Marquette Transportation Finance, which just surpassed a milestone of sorts: It’s lent more than $15 billion to companies large and small.
There is no requirement for cargo insurance, but that doesn’t mean you shouldn’t have it. As you search for motor truck cargo insurance, you will find various plans at various price points. Like those homeowner’s policies, no two are the same. So how do you know what you should be looking for?
With the introduction of smart insurance contracts in transportation applications, companies in the freight business could emulate a similar offering to solve some of the major disruption risks involved in carrier service failures.
The I-95 Corridor Coalition is moving forward with research that will help it determine whether a mileage use tax is the right approach to taxing in Pennsylvania and Delaware, according to NBC 10 Philadelphia.
The Republican health care bill has received both criticism and applause from a divided nation. But what does it do for trucking? Well, like the rest of the nation, that may depend on what side of the industry you are on.
As many drivers and small fleets worry about the impact on productivity and cost with the upcoming mandate to install electronic logging devices, one overlooked aspect is what impact ELDs will have on their insurance rates.
