Save Money on Your New Venture Motor Carrier Insurance With These 9 Questions
Commercial Insurance Solutions
by Shelly Benisch
1y ago
Are you an Owner Operator venturing out to become a new Motor Carrier with questions on your truck insurance? Most Independent Contractor Owner Operators start by driving a truck “leased on” to a large Motor Carrier. But over time, you may choose to get your own DOT and establish your own Motor Carrier authority. Truck insurance for a “leased on” Owner Operator is very different than truck insurance for a Motor Carrier. Most of the insurance responsibility shifts from the company you’ve been “leased on” to…to YOU. What type of Truck Insurance does a new venture Motor Carrier need? The type of ..read more
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Commercial Truck Insurance Trends 2023
Commercial Insurance Solutions
by Shelly Benisch
1y ago
It’s no secret that inflation had a severe impact on the commercial trucking industry in 2022.  Typical truck and driver shortages were amplified by exploding fuel costs and sweeping consumer prices. ATRI reported that fuel prices became the number one trucking industry concern, bumping the always consistent driver shortage challenge. Trucking overhead increased just when spot rates collapsed for the first time in 5 years.  DAT  reported an average -19.3% van spot rate drop from Dec ’21 to Dec ’22, and a -57.3% drop in spot load posts. As a result, “Owner-Operators’ 20 ..read more
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Progressive now insures Commercial Truck FLEETS
Commercial Insurance Solutions
by Shelly Benisch
1y ago
Well it’s been years in the making, but Progressive has finally launched an impressive Small Fleet Truck insurance program. “Small Fleet” can include anything from Cargo Vans and Pick Ups to Straight Trucks, Reefers and Tractor Trailers. A new Progressive policy can be written for accounts with 10-40 existing units, and can organically grow to 60. The Small Fleet coverage offers Commercial Auto Liability, Non-Trucking Liability and Physical Damage.   Additional coverage is available on a per state basis including Cargo and Reefer. Progressive is looking for 3 years of business experi ..read more
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The Best Load Board for Cargo Vans, Sprinters, Straight Trucks…and Newbies
Commercial Insurance Solutions
by Shelly Benisch
2y ago
Finding the Best Load Board for Cargo Vans, Sprinters and Straight Trucks has always been a daily question from newbies we insure. Once an Independent Contractor is ESTABLISHED,  a case can be made for ALL the recognizable load boards. But for someone brand NEW into Expediting, Hotshot or Trucking…it can be difficult to find loads.   Leasing on to an established Motor Carrier is always an option, and it’s a good way to get your feet wet to see if you even LIKE hauling freight for a living.    But for some Owner Ops and Motor Carriers, the question we hear every day is “What ..read more
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RoadCheck DOT Blitz is Here
Commercial Insurance Solutions
by Shelly Benisch
2y ago
The Commercial Vehicle Safety Alliance’s (CVSA) annual “Roadcheck” campaign will take place May 17 – 19, 2022. This event is also commonly called “DOT Blitz”. What is Roadcheck? Over a 72-hour period, commercial motor vehicle inspectors in jurisdictions throughout North America will conduct inspections of commercial motor vehicles and their drivers. Approximately 17 Roadside Inspections will be initiated every minute during this 72-hour period across the US, Canada, and Mexico.&nb ..read more
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What is Progressive Smart Haul?
Commercial Insurance Solutions
by Shelly Benisch
2y ago
A recent Overdrive article on truck insurance has generated a number of questions including “What is Progressive Smart Haul?”  Here’s what you need to know: Smart Haul is a program that allows Small Motor Carriers and Owner Operators the opportunity to save between 5% and 18% on their truck insurance by allowing Progressive access to their electronic logging device (ELD). In most cases, it’s been an average savings of $1,384 per year at new business. The Smart Haul program can be applied to both new and current Progressive policyholders with 1-9 units in most states. Here’s what you need ..read more
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2022 Truck Insurance Trends
Commercial Insurance Solutions
by Shelly Benisch
2y ago
Well, safe to say the past couple of years have been strange, so what’s in store for Owner Operators and Truck Insurance in 2022? Last Mile Delivery No surprise here, Last Mile Delivery exploded during Covid and continues to grow.  In 2020, the LMD industry was valued at $18.7 billion and it’s expected to grow to $62.7 billion by 2027.   Truck Accident Litigation Setting aside nuclear verdicts over $1 Million that have increased by 335%,  ATRI reports that other litigation cases resulted in an average payment of between $406,386 and $449,792. Settlements are also ..read more
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Owner Ops – Why Your Truck May Be Under Insured in 2022
Commercial Insurance Solutions
by Shelly Benisch
2y ago
Savvy Owner Operators know that after an accident, the insurance company will look at the vehicle’s Stated Amount and Actual Cash Value (ACV) and pay whichever IS LESS.  You, the Owner Op, chose the Stated Amount at the start of your Commercial Auto policy.  If your policy started months ago, the figure you chose THEN could result in an Under Insured truck NOW.  How so? DAT Freight & Analytics reports that along with an 82% drop in auction inventory, some used big trucks are actually selling at twice their values of last year.  Lots of chatter out there as to why ..read more
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How to LOWER your Commercial Truck Insurance Video | 9 Key Tips
Commercial Insurance Solutions
by Shelly Benisch
2y ago
How to LOWER your Commercial Truck Insurance Video.  Trucker Turtle shares 9 KEY TIPS Underwriters use |CIS Easy Truck Insurance Tips| The post How to LOWER your Commercial Truck Insurance Video | 9 Key Tips appeared first on CIS - Commercial Insurance Solutions ..read more
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Understand NonTrucking Liability Video
Commercial Insurance Solutions
by Shelly Benisch
2y ago
Understand NonTrucking Liability Video.  Trucker Turtle helps Owner Ops Understand their NTL Insurance |CIS Easy Truck Insurance Tips| The post Understand NonTrucking Liability Video appeared first on CIS - Commercial Insurance Solutions ..read more
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