Burton & Company, a Virginia commercial trucking insurance company, published an article exploring the top challenges influencing the trucking industry.
Online PR News – 12-March-2023 – Martinsville, VA – Burton & Company, a commercial trucking insurance company, recently released an article listing the top challenges in the trucking industry. The article explains the growing challenge of retaining truckers and what the industry is doing about it - namely, the inaccessibility of trucking insurance to newer drivers and proposed changes to federal legislation that ease the transportation of goods between state borders.
The trucking industry has several costly factors to consider when working to make a profit with the cost of trucking insurance as a major factor. Most trucking companies will not settle for a general liability insurance policy to cover their drivers. There is an argument that coverage from these policies is insufficient and may cover the driver but not the cargo itself. This puts the trucking company's business under a tall order of risk when a driver gets into an accident.
There are also challenges concerning how newer drivers navigate the insurance coverage options available to them. In some cases, less informed drivers may find themselves with an insufficient insurance policy that leaves them paying more money in the form of high premiums. Trucking companies often have difficulty determining which insurance would be best for their truckers, and their trucks, and which policies are simply unnecessary for their line of work. The lack of customized care can leave truckers feeling exposed and less likely to commit to an industry that presents risks to its workforce.
In response to the nationwide shortage of truck drivers, some companies are pushing for changes to federal legislation to help alleviate the pressure placed on trucking companies. Two U.S. senators have reintroduced and backed the DRIVE Safe Act (Developing Responsible Individuals for a Vibrant Economy Act), which would amend federal regulations for who can drive and where. If passed, any CDL holder under the age of 21 would be allowed to transport goods across state borders.
Finding the right commercial trucking insurance policy to cover your business needs shouldn't require a winding roadmap. As the trucking industry faces more challenges than ever before, Burton & Company makes coverage simple with unique commercial trucking insurance packages that cover the nuances of your business goals. To learn more about which commercial trucking insurance policy is right for your business, call Burton & Company at 888-652-1325 or visit their website at https://burtonandcompany.com/. Burton & Company is headquartered at 231 East Church St. Martinsville, VA 24112.