How To Steer Clear Of Insurance Pitfalls

Managing insurance challenges remains a significant concern for fleet owners and operators. Rising premiums, liability claims, and cargo insurance disputes all pose financial risks to trucking businesses.

It is imperative that fleet owners and operators understand these common insurance pitfalls in order to implement strategies to mitigate them.

Liability claims

The number of transport trucks on Canadian roads has surged in the last decade, which has led to an increased rate of accidents and therefore liability claims.

Accidents involving transport trucks see a far higher fatality rate than accidents involving other types of vehicles. Not surprisingly, the rising number of claims has driven up insurance costs, with large settlements often resulting in higher premiums across the sector.