Trucking insurance is easily among the top three highest expenses for truckers, alongside the truck itself and the fuel required to run it. It’s important to find the right balance between the coverage you need and a price that you can afford.
Working with a trucking insurance agent can help you find the right plan while also complying with legal regulations. Let’s take a closer look at the benefits of working with a trucking insurance agent.
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What Is a Trucking Insurance Agent?
A trucking insurance agent provides commercial insurance coverage for you and your vehicle. It’s more than just an insurance provider! A trucking agent will have specialized knowledge about the industry and how local regulations influence the type of coverage that you need.
What Does a Trucking Insurance Agent Do?
The trucking industry has a number of regulations that can be hard to navigate and adhere to on your own. A trucking insurance agent can guide you along the process as they perform the following services:
- Providing coverage for your vehicle
- Processing monthly premiums
- Helping you with DOT filing
- Guiding you with ELD and other regulations
- Providing assistance for repairs and accidents
If you own a company, trucking insurance agents can also help you manage an entire fleet. In some cases, they can even help you save money when you’re in charge of insuring multiple vehicles.
Trucking Insurance Agent vs. Direct with Provider
A trucking insurance agent can provide you with specialized guidance that a provider alone cannot. A trucking agent understands the industry and its challenges. By working with a local trucking agent, you’ll have access to specialized input you won’t find with a major provider.
While insurance providers tend to be concerned about their bottom line, you can expect trucking insurance agents to advocate for you and your business, ensuring that your unique needs are given full attention.
Why Do Trucking Businesses Need Trucking Insurance Agents?
Your trucking business can thrive with the right agent. There are several reasons why business owners might need the expert advice of a trucking insurance agent.
Trucking Insurance Is Expensive
Business owners face multiple expenses, including the costs of equipment, fuel, and payroll. While insurance premiums are unavoidable, a trucking agent can work with you to find the coverage you need for your business at rates that fit your budget.
Trucking Agents Understand Truck Insurance Policy Nuances
Insurance policies can be complex, and they are often filled with unfamiliar terms. But a trucking agent can create a policy that provides seamless coverage, all while educating you about policy types and the coverage available in each.
Many agents spend time researching the ever-changing regulations in the industry, so you’ll be able to stay up-to-date on the latest standards, both federally and locally.
DOT Regulations: Trucking Agents Ensure You’re Compliant
DOT regulations include things like ELDs and specific insurance requirements, some of which vary by location, industry, and equipment type. Your trucking agent can help you stay compliant with these regulations.
Benefits of Working with a Trucking Insurance Agent
When commercial insurance is a necessity, trucking agents can essentially become your unofficial business partners. There are multiple benefits of working with a trucking insurance agent.
Improved Communication
No one wants to deal with a faceless corporation. Working with a licensed agent ensures that you’ll receive direct access to a professional when you have policy questions or need to make a claim.
Building a relationship with a trucking agent can make it easier to manage your insurance policy and learn more about industry regulations that may impact your business.
Receive Detailed Coverage Reviews
An experienced agent can review your needs, as well as your policy, making sure there are no gaps in your coverage. They can also match insurance plans with those needs, all while finding ways to save money, like by eliminating unnecessary coverage for example.
Claims Process Assistance
An agent can make the claims process a whole lot easier for you. When you need to file a claim, the process can be confusing. At the very least, a trucking agent can show you where to start. An agent may even be able to do a lot of the legwork for you so that your claims are processed quickly and accurately.
Comparing Insurance Carriers Equals Better Rates
Trucking insurance agents aren’t bound to work with any single insurance provider. This means that working with a trucking agent will allow you to compare rates and find a policy that fits your needs and your budget.
They can also provide assistance if your rates unexpectedly increase. Also, they can help you explore other options for coverage if need be.
Looking for an industry-experienced insurance company? Cornerstone Insurance Services is a retail insurance agency based out of NY. Cornerstone specializes in trucking and logistics while serving the small to mid-size fleet trucking market in over 40 states.
Insurance Agents Represent You (Not the Insurance Companies)
Insurance companies are sometimes guilty of serving their own bottom line rather than prioritizing the interests and needs of their customers. On the other hand, a trucking insurance agent can be an advocate, ensuring that your decisions are in the best interests of you and your business.
FAQ
Trucking insurance agents help you to find the appropriate policy for you that will provide you with coverage that meets your company’s needs. Plus, they’ll keep you in compliance with industry requirements and legal standards.
Different states may have varying insurance requirements, but most trucking businesses are required to carry general liability, auto liability, comprehensive, collision, and cargo insurances. However, many insurance providers also provide insurance for specific industry niches, such as trailer interchange and rental reimbursement insurance.
Trucking agents typically maintain a portfolio of clients. Their daily tasks often include sales and research as well as claims processing on an as-needed basis.
