According to the American Transportation Research Institute (ATRI), the commercial trucking industry has been hit with some major issues over the last few years – causing insurance rates to be in an almost constant state of turmoil. ATRI points to matters such as driver shortages, newly introduced regulations, rising driver compensation, increased delays at customer facilities and diminishing availability of truck parking among the top five issues facing trucking companies. Other outward, forward-looking concerns include transportation infrastructure and the economy. To help its clients – both current and new – weather the current storm of issues, InsuranceHub team members stand at the ready.

“An unfortunate side effect of an industry in flux is that insurance rates tied directly to that industry tend to follow suit,” said Lee LeBaigue, VP of Marketing Technology for InsuranceHub. “A lot of our clients have very legitimate concerns that impact their bottom line. If there’s a driver shortage – and there surely is – they are forced to fend off competing transportation companies from wooing away their drivers, making driver retention a new concern. To combat that, some have raised their driver compensations in hopes of remaining competitive. And when they DO bring on new, relatively untested drivers, they often experience increased insurance rates. They really don’t want – and frankly can’t take – too many hits to their bottom line. It’s not like insurance is an option. It’s a necessity – the cost of doing business. That’s where InsuranceHub comes in. We do our level best to hunt down the best insurance that not only fits their needs, but also their budget.”

To help trucking companies navigate the topsy-turvy truck insurance world, InsuranceHub offers a variety of available insurance markets while endeavoring to keep the lines of communication open with their clients about new opportunities. When a trucking company’s insurance policy is up for renewal, the InsuranceHub team will diligently shop rates to find the best option. They also often perform Motor Carrier checks and discuss risk management and strategies for improving safety with their clients. Perhaps most telling of the convenience of this new digital age is the InsuranceHub Client Portal. The Portal gives clients immediate access to information regarding Department of Transportation regulations, as well as ID cards, copies of their filings, and the provision of an instant certificate of insurance, when needed.

“Leaders at commercial trucking companies have enough on their plates to deal with than adding the quest for better, more affordable insurance to their to do list,” added LeBaigue. “And yet the transition away from an egregiously expensive policy or – even worse – a cheap policy that doesn’t provide the necessary coverage in the event of an accident or catastrophic event could mean all the difference in the world to a company’s ledgers and overall stability. InsuranceHub can lead that transition to a policy that’s ideally suited for them on all fronts.”