Over time, the reliance on land transportation has continued to increase. This does mean more opportunities for trucking businesses but at the same time, there is an imbalance of demand and supply in some areas of the US. Nonetheless, the trucking industry is in good health. Trucking businesses across the US face a number of challenges on a day to day basis. From insurance to fuel prices to employee shortage, the challenges vary from location to location. However, there are some issues which are widespread throughout the trucking industry. Here’s a look at the most significant ones.
Insurance – it’s needed for just about everything these days. You’ll need it on your personal car, truck or van to legally drive on the road. You’ll need it on your home. You’ll need it for your health. You might even have life insurance, gap insurance and more. If you’re a long haul owner operator, you’ll also need trucking insurance. There’s a lot to know here, and it’s vital that you get it right, or you could be left spending far more than you should, or even without crucial protection.
As the day when Donald Trump will officially enter the White House (20 January) approaches it is impossible not to ask oneself what changes in the trucking industry will take place in the following months. Bobtail.insure has already followed how his presidency might affect the laws enforced my Obama’s administration with regards to safety. These are a few more key factors to keep in mind.
The election of Donald Trump is like hitting the restart button for the truck industry. There a lot of safety issues that are about to be addressed. Experts also believe that a new look at regulations in the truck industry will take place. In fact, trucking companies are already expected to meet by the end of this year as a result of the deadline for electronic logging devices installment in trucks that tracks their working hours.
Navigating the complex world of commercial trucking insurance can be a major challenge. There are numerous pitfalls you have to avoid, and at the same time, select the right policy keeping in mind the requirements of your business. To make things easier for you, here’s a 5-step guide to commercial trucking insurance.