Trucking involves the transporting of various goods and materials for varying distance lengths. According to the American Trucking Trends 2018 Report, trucking industry revenues surpassed $700 billion in 2017. In 2016, the trucking industry saw over $670 billion in revenue. According to this report, trucks were responsible for moving over 10 billion tons of freight.
Typically, the trucking industry is a reflection of the current state of our economy. On the other hand, the state of the trucking industry can also impact the economy because of the responsibilities of transporting heavy machinery, dry goods, construction equipment, refrigerated goods, and more from state to state.
Generally, the trucking industry is made up of many small businesses. Many of the names you see on trucks today are small trucking companies that have less than ten trucks. We understand that after financially supporting a trucking company the profits that are created is not always a high number.
Trucking companies have a variety of expenses to worry about, including insurance. With the increasing insurance costs from a year to year basis, we understand how challenging it can seem to properly insure an entire independent trucking company. There are several reasons why insurance rates rise in the trucking industry, including the number of accidents that involve commercial trucks.
Unfortunately, the number of injuries and deaths caused by commercial trucking accidents rose significantly over a span of ten years. Small trucking companies may be burdened by all of the rising costs in the trucking industry. As an independent trucking company, it is important that you are able to adjust to all the changes in the industry so you are able to maintain a profit and not a loss. We do not encourage you to make cuts in certain areas just to make room for your insurance costs.
There are insurance providers that are ready and willing to work with you so you will continue to bring in a profit. If you would like information on how you can have a customized insurance solution that fits the needs of your trucking company, your insurance provider will be able to create a solution that works best for your company.
For more information on our insurance services, please do not hesitate to contact us today so one of our representatives can assist you. J.E.B. Insurance Services is licensed in Florida, Georgia, Tennessee, Iowa, Nebraska, North Carolina, South Carolina, Illinois & Texas.
