New Data Puts a Number on the Insurance-Safety Gap in Trucking
"No federal or state law requires an insurance company to evaluate a motor carrier’s safety fitness before binding a commercial trucking policy. Every for-hire interstate carrier must carry minimum liability coverage to operate, but the process by which that coverage is obtained varies enormously, from rigorous actuarial underwriting with safety audits and ongoing loss control monitoring to instant-issue digital platforms where coverage binds without a single question about the carrier’s crash history. The $750,000 federal minimum, set in 1980, was intended to create a safety quality barrier. It has not functioned as one for decades, and now there is data at national scale to confirm it."
Most carriers think that $750k coverage protects them... it doesn't.
New data from FreightWaves shows minimum coverage may only cover a fraction of real accident costs. That gap is where trucking companies go out of business. We help carriers close that gap with the right coverage and strategy. Let us work on closing that gap, reach out to our Insurance team today below.
From a BulkLoads Insurance Client:
"BulkLoads Insurance Saved Me Over $24k on My Annual Premium. If You Haul Bulk Commodities, These Are Your People."
- William Hill
Billings, MT
The Importance of an Expert Insurance Agent:
Your insurance agent is a crucial partner in your business, and their expertise can significantly impact your bottom line. At BulkLoads Insurance, we pride ourselves on having a team of professionals who are not just insurance experts but specialists in bulk freight. This expertise enables us to guide our clients through the complex and ever-changing insurance landscape, ensuring they receive the most relevant and cost-effective coverage in the simplest way possible.
Your insurance agent can be more vital in your business than you think. Is your current agent an expert in bulk freight? Are you paying for more coverage than you need?
We understand that each of our clients has specific requirements and we are committed to providing personalized service to ensure that their insurance solutions are tailored to meet their individual needs. Our team has extensive experience and expertise in the bulk commodity trucking industry, which allows us to help our clients navigate the complex and ever-changing insurance landscape.