Transportation company insurance isn’t as simple as saying you want truck driver insurance. You’re responsible for providing vehicles, protecting cargo, and keeping the roads safe for one and all. That means you need to have the right kind of trucking insurance to protect your financial interests and those of the people you employ.
Commercial vehicles come in all shapes and sizes. From tractor-trailers and semi-trucks to box trucks, buses, vans, dump trucks, and more, companies that manage these vehicles need to have the right types of coverage and the right amounts. Developing an effective insurance strategy can help you get the right coverage for your transportation company. It can do this while also ensuring you can afford the coverage you have. These things will help.
Work with an Independent Insurance Agency
Independent agencies are more about building relationships with their clients than the “big box” insurance companies. More importantly, they work with several different insurance companies so that they can offer you truly customizable insurance coverage to meet your needs for trucking insurance and more. These powerful factors mean you’re more likely to get the right amount and types of coverage and that you can have a better selection of protection and price options.
Use GPS Fleet Tracking to Monitor Drivers and Reduce Costs
Insurance cost is one of the major expenses for the average transportation company. Unfortunately, you really can’t operate one of these businesses without quality transportation insurance. That means you must work with your drivers to keep costs low.
GPS fleet tracking can help you stay on top of vehicle maintenance needs, ensure drivers adhere to safety concerns and help you avoid unnecessary cargo losses or accidents that could drive trucking insurance costs higher.
Invest in Sufficient Umbrella Insurance for Your Needs
One of the most important aspects of adequate risk management when it comes to transportation company insurance is making sure you have an adequate amount of umbrella insurance to protect your financial interests. Umbrella insurance kicks in once you’ve exhausted your standard liability insurance protection.
It serves to help cover overages for particularly large claims made against your transportation company. It only takes one major accident to lead to massive medical expenses and settlements – not to mention legal fees. Without umbrella insurance, you could be forced to pay huge fines out of pocket.
The right strategy for transportation company insurance can make all the difference in the world when accidents occur. Work with InsuranceHub today to learn about the many ways we can help you get the trucking insurance and more your transportation company needs.