Navigating Rising Trucking Costs
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As known too well, there has been nowhere to hide from the rising costs of everything from maintenance to insurance.
Rate premiums have not found a bottom for some time; according to American Transportation Research Institute, truck insurance premium costs per mile rose 6.8% in the first quarter of this year compared with 2023 and is one of the fastest-rising expenses in trucking.
Other market stresses — such as a soft freight market, a continuing labor shortage and nuclear verdict concerns — have pushed companies out of the commercial trucking insurance space. How can fleets and trucking companies navigate these market conditions and find quality and affordable coverage?
In this special report, we ask trucking companies what they are doing to manage their insurance costs and present alternative solutions from self-insurance to technology. Discover, too, what providers recommend to better prepare for commercial truck insurance needs.
Freeze
Fleets also have faced significant risk-management problems. Read more in this report about how industry leaders and state regulators have implemented measures to address other insurance challenges that impact the sector.
How does insurance come to play in areas such as cybersecurity, a subject that had more than its share of attention in the past month? We have that covered, too.
As we have moved into the second half of the year, trucking companies are setting their 2025 goals and with margins razor thin, the quest to find reliable yet affordable insurance is of utmost importance. We hope that you find this special report helpful in navigating insurance and risk management.
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