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Running a logistics or trucking company is undeniably challenging, often filled with unexpected obstacles. In my role as a specialized insurance agent for the trucking industry, I’ve received countless calls from company owners sharing their insurance woes and contemplating shutting down their operations due to insurance difficulties. These distress calls frequently revolve around a few problematic drivers who have proven more trouble than they’re worth. In other cases, it might be the company owner’s own minor oversight that leads to policy cancellations or non-renewals by their carrier.
In moments of urgency, owners reach out to various local agencies in desperate need of insurance. Unfortunately, they are often met with either rejection or unaffordable pricing options, along with misguided risk management advice. Many agencies have limited options for trucking and even fewer for high-risk accounts. When unfortunate incidents occur, the last thing a truck company owner wants to hear is that they’re “uninsurable” or that their rates will skyrocket with no chance of discounts.
It’s rare and challenging to find an agency willing to assist companies with a history of substantial claims or questionable safety scores. The good news is that insurance companies designed for such companies do exist. These specialized markets primarily cater to higher-risk accounts and work exclusively with a select few agencies that understand how to manage such risk.
At Commercial Trucking Insurance, we specialize in transportation and logistics and have access to a wide range of markets willing to accommodate well-established, new ventures, or challenging risks. When I receive the dreaded “I’m uninsurable” phone call, I can confidently address the situation and offer hope that there are more insurance options available than what other agencies may present.
Contrary to common belief, several carriers offer programs tailored to assist high-risk trucking companies in obtaining insurance without severely impacting their revenue. At Commercial Trucking Insurance, we not only help trucking companies connect with insurance carriers specializing in high-risk scenarios, but our in-house safety team also provides guidance to help reduce risk.
This way, when your policy comes up for renewal, you’ll be in a much better position than the previous year, with a broader range of coverage options. I hope this article instills hope in those who believe that a few mistakes will forever dictate the fate of their organizations. Don’t hesitate to reach out if you want to explore options you didn’t think were available, and most importantly, keep on trucking!