3 Key Qualities Trucking Operations Should Look for in Their Motor Truck Cargo Insurance Partner
The trucking industry is a vital backbone to the American economy. Hauling 10.23 billion tons of freight each year, the industry is responsible for 72.5% of total domestic tonnage shipped in the United States. Medical supplies, building materials, appliances, cars — you name it, it’s being shipped.
The motor truck cargo business is also constantly evolving to meet demands, and as such, it is imperative trucking operations have the right team behind them.
“They will want an insurer that is there for the long run. A partner that can write their policy exactly how they need and with the flexibility to handle today’s biggest challenges,” said Kristen Hunter, Head of Marine U.S. at BHSI.
Supply chain woes are just one of those challenges to which Hunter alluded. With containers full of cargo stuck on ships offshore, trucking operations must wait to haul shipments. In turn, they may have to let go of drivers or shrink their business, since there’s less work to be done. But that only compounds the risk, as driver turnover can cause more delays.
“A lot of drivers are stressed, working more hours than they want to or should be to make up the deficit,” Hunter explained.
Not to mention the pandemic has also tightened talent resources, as businesses had to lay off workers and others are joining in The Great Resignation and leaving the industry.
It’s a lot to keep a pulse on. But operations small and large can muddle through even the worst of times with the right controls in place. There are several key qualities for owner operators and other trucking operations to look for in their insurance partner to guarantee they’re getting the best coverage, best services and best policy available.
To learn more about Berkshire Hathaway Specialty Insurance, please visit their website.