It is no secret that 18 wheeler insurance does not come cheap owing to the considerable liability risks associated with the trucking business. For this reason, it is important to find an insurance firm that understands 18 wheelers and provide practical policies that meet specific requirements at a reasonable cost.
The cost of insuring a truck is determined by a wide variety of factors, including the type of cargo hauled, distances traveled, driving record and more. Average for-hire operators can pay up to $12,000 annually for commercial truck insurance.
Choosing the ideal insurance policy is crucial for protecting assets. A major accident can create substantial financial problems for an uninsured operator. Paying for the repairs out of one’s pocket is simply not an option. An accident has the capacity to decimate a trucking company. The right type of insurance eliminates the need to pay for medical bills and repairs. In addition, it provides much-needed protection against uninsured drivers.
Risks for truck drivers
Driver fatigue is one of the major risk factors associated with the trucking business. The sleep schedule is always changing and it is not easy to get adequate rest at truck stops and other public spaces. As a result, sleep deprivation may lead to poor concentration.
In some cases, hazardous road conditions create considerable risks. Many accidents are caused by drivers who keep moving in bad weather. The 18-wheeler monsters have inertia, which means they can cause a lot of damage in the event of a crash.
What determines the cost of a policy?
Insurance providers assess the level of risk associated with a particular operator and fleet based on wide-ranging factors. Higher level of perceived risk attracts higher premiums. Some of the key factors that determine cost include:
– Credit rating
– Driver’s age and gender
– Value of of the 18-wheeler
– Location and radius of operation
– Driving record and experience
In the United States, vehicles are required to have liability insurance. This is aimed at protecting both the insured and third parties. Truck operators can obtain licenses and permits after presenting liability insurance. On the other hand, bodily injury coverage is designed to pay for medical expenses resulting from the accident.
The policy covers medical bills for the injured up to a set limit per person. It also stipulates a maximum amount per accident under the Combine Single Limits (CSL). Property damage covers any damage to vehicles or property. This ensures that the property is either repaired or replaced. Physical damage insurance is particularly important to operators that lease trucks or have a lien of any kind. This option provides comprehensive coverage.
Specified Peril insurance offers protection in the event of specific hazards, such as fire. Coverage is only applicable to items specified on the policy. This means if an 18-wheeler is damaged by a falling tree and it is not listed on the policy, the insurer will not pay. Hence, the need to ensure coverage to risks associated with a particular route or cargo.
Truck or commercial truck insurance is one of the best assurances that a truck owner or operator has to ensure financial security when accidents occur. There a numerous insurance providers offering big rig commercial truck insurance for truck owners and fleet operators. Not sure if you should get this type of insurance? Read on before you decide.
Reasons to Choose Big Rig Insurance
Types of Commercial Truck Insurance
Trucking insurance companies offer the following types of coverage which are suitable for big rigs and commercial trucking fleets:
–primary liability
–physical damage
–trucking cargo
–occupational accidents
–workers compensation insurance
–general liability
What types of vehicles should be covered by big rig insurance?
This type of insurance offers suitable coverage for vehicles such as athlete buses, bookmobiles, bingo/ casino transportation, catering trucks, cement mixers, church and school buses, courier buses, dump buses, driver training vehicles, fire department vehicles, funeral hearses, grain haulers, moving trucks and vans, to name a few.
Who should get big rig insurance?
Big rig insurance is suitable for the following:
–owners and operators of commercial trucking fleets–operators for local, intermediate and long-haul trucking operations
–container hauling operators
–agricultural haulers
–operators of other specialized trucking services
Why Get Big Rig Insurance
Many states require insurance for all sorts of vehicles, including big rig vehicles. Risk managers also require for-hire truckers to have insurance before they can get a contract for a trucking job. Insurance such as general liability pays for any damage or injury sustained as a result of activities not directly related to the operation of the truck. General liability typical answers for any physical injury, property damage, advertising injury liability, and damage to rented premises.
Truckers may also be required to get trucking liability insurance to be allowed to stay on the road. This is the minimum insurance needed to be able to operate a big rig operation and is often the costliest aspect of any trucking insurance policy. This type of insurance will answer for any damage to persons or properties in the course of driving the truck. Amount of premiums will depend on the kind of truck and the cargo being transported. The minimum if $75,000, but mos shippers will require up to $1,000,000 worth of coverage. Haulers of hazardous materials such as gasoline and other dangerous chemicals may be required to carry up to $5,000,000.
You also need to be covered for other things that do not occur on the road. Damage to fire, theft, and other disasters require coverage which can be provided by comprehensive coverage.
Where to Get Big Rig Insurance
Get big rig insurance from companies that specialize in providing coverage to commercial vehicles and fleets. These companies are more likely to be able to give you wider options for coverage. Bigger insurance providers will likely assign you to a specialist who can analyze your business and recommend the best coverage options based on the evaluation. Most insurance providers also provide flexible coverage that you can covert or upgrade according to the needs of your business. Make sure to ask for this feature so your coverage stays current and able to respond to the demands of your growing business.
Heavy haul carriers move countless overdimensional loads every month with minimal issues. However, even the most common and seemingly routine jobs can cause serious headaches. That’s why it is imperative to pay attention to all aspects pertaining to a overdimensional move, and why failure to do so can result in lost income, damaged equipment and dissatisfied customers.
Know Your Commodity
A certain degree of trust is placed in the information provided by the shipper regarding the commodity to be moved. With trust comes verification, and confirming info such as the makes, model numbers and weights of items to be shipped is a major role in that step. Photographs are especially beneficial for unique configurations or characteristics, and with the advent of smartphones, chances are someone will be able to take photos to help with load planning. For example, marine forklifts are traditionally quite heavy to allow them to lift and move boats without problem. Their relatively compact size can be deceiving, however, so due diligence is required to obtain true weights and dimensions. In this case, a simple phone call to the forklift manufacturer is the fastest way to get accurate and correct information.
Know Your Equipment
While a specific trailer may have the ability to handle the weight of your commodity, be sure that it is able to load, unload and support the item during transit. The main body of the marine forklift above weighs 46,500 pounds. While step decks exist that are capable of supporting that amount of weight, the step deck trailers ramps are typically not rated anywhere near overall load capacity. A 16,000 pound work truck would have no problems as the ramps will only be supporting 8,000 pounds at a time while each axle passes over the ramp. However, a 46,500 pound forklift which generally has a shorter wheelbase than the average work truck will easily transform the step deck’s ramps into scrap metal. Using a crane for loading may solve that problem, but if the trailer’s axles arent able to be positioned in accordance with the Federal Bridge Formula, its definitely the wrong trailer for the job.
Know Your Limits
Sometimes having a load, the correct equipment and a rate confirmation just isn’t enough. Whether its impending frost restrictions or a bridge unable to support the weight of your load requiring days of extra driving, occasional impediments exist that may derail the job. Careful planning and attention to detail is crucial to ensure that route surveys are correctly performed, the right number of escorts are booked and all required permits are on hand before the wheels ever start turning. Any glitch in the timing of any step along the way could spell disaster for that seemingly routine load. While “no” is an answer that carriers generally don’t like to provide, especially when it comes to new business, often its the smartest one to avoid potentially expensive oversights, setbacks and disappointments.
Working with oversized commodities comes with its own set of challenges and expectations. Enough important procedures and requirements exist in the planning and execution of such a move that warrant the selection of a carrier with sufficient experience in oversized and overdimensional transportation. Let ReliancePartners be that resource for your next move. Fill out the information in the blue “Free Freight Quote” box today and let ReliancePartners’s experienced freight consultants dot all the I’s and cross all the T’s required and necessary for a safe and successful oversized or overdimensional move.
Whether it’s heavy haul or traditional over-the-road trucking, customers and carriers alike need to remain vigilant in their efforts to avoid, detect and prosecute criminals and scam artists whose goal it is to defraud, hold hostage and even steal loads. Basic, simple procedural changes may be all that is needed to prevent such attacks and ensure that the commodities being transported arrive safely and securely at their intended destination.
One practice is when a fraudulent carrier assumes an old motor carrier (MC) number. Whether stolen online or purchased from unscrupulous individuals, the criminal reaches out to brokers and customers to update their contact information. In other words, the crook tells the customer they’re Trucking Company XYZ just like before, but that they have a new phone number. When this occurs the unknowing shipper may begin contacting that illegal carrier for rates, or worse, for cargo transport.
Another common situation is referred to as reincarnated or chameleon carriers. A reincarnated carrier is one that has been shut down – generally as a result of safety issues – and quickly reopens under a new name. Whether its a carrier with an illegally-obtained MC number or a reincarnated chameleon carrier, any business performed with such companies is doomed to double- or triple-brokering, if not outright theft.
When entering into a new relationship with a carrier, an utmost priority should be ensuring that the carriers insurance is current and valid. Be sure to call the phone number listed on the carriers Certificate of Liability Insurance – whoever answers the phone should freely identify themselves as well as the name of their company, and should be able to answer questions and provide specific details relating to the carrier in question and their insurance levels.
Employing an insurance monitoring company is another way to help prevent criminal activity. Insurance monitoring companies typically work with thousands of insurance providers to check for, monitor and handle the status of applicable coverage and protection levels for their clients, helping to allow the customer to concentrate on the daily demands of running the business instead of constantly checking the insurance of all their various trucking partners on an ongoing basis.
It would be wise to place new carriers in a probationary status, allowing them to handle only one load at a time. This status could run concurrently with other requirements such as the submission of references, and would likely disappear after a certain number of successful deliveries. The carrier’s submission of broker or customer references should be a formality and will likely paint an accurate and current picture of the trucking company that can be used to assist in the overall vetting process.
Another way to obtain updated data about a carrier is to visit the US Department of Transportations Federal Motor Carrier Safety Administration (FMCSA) website and use their Safety and Fitness Electronic Records (SAFER) system. This system is available at no charge and can be used to search the FMCSA website, order company safety profiles and obtain snapshots of trucking companies for a quick company summary. Their official website is located at http://safer.fmcsa.dot.gov.
In today’s world of sophisticated crime rings, advanced methods have been created to defraud both trucking companies and their customers. Although most loads are transported without incident, additional safeguards must be implemented in order to stay one step ahead. Reliance Partners takes carrier compliance very seriously, vetting its partners in strict accordance with ISO 9001:2008 guidelines. While additional steps cause a slight delay in partnering with a new carrier, the alternative invites cargo fraud. Let Reliance Partners protect you and your cargo by calling us today at 877.668.1704.
Manufactured houses are otherwise called mobile homes. They adopt this name because they can be moved to different locations by way of wheels that are attached to the structure. These houses are built in varying sizes and the size of the vehicle is important when considering how to transport a house on a tractor trailer. The movable houses also have varieties in characteristics. These include precut residences, panelized houses and modular homes. Other things to think about when deciding on how to transport a house on a tractor trailer include:
Maybe the first thing to look at when moving your house is whether or not the company that is transporting it has insurance. Ensure that all necessary charges are paid. There is even an option to get transport insurance only when you decide to move the house. This does not require a lot of cash. To make sure that the move is trouble-free, the driver of the tractor trailer should be given clear directions to the site as well as the route to take to get there. In addition, it is important that the location where the house will be placed is previously and adequately prepared.
In addition to getting information on how to transport a house on a tractor trailer, the owner should ensure that there is no unnecessary expense regarding failure to adequately end the lease of the home park for the mobile house. There is a typical 30-day notice required before the house should be removed. Other things to check for are city fees and transport permits. Find out the rules that the park has concerning the transportation method to be used and time frame in which the owner can remove the home.
The interior contents of the mobile home which can become dislodged and damaged while moving the home should be secured prior to the move. Lighting fixtures made of glass should be removed before transporting begins. The tops of the toilet tanks and doors of all medicine cabinets, showers and closets must also be securely fastened. To ease the weight in the moving process, it is advised that you remove as much of the furnishings on the inside as possible.
Only qualified and experienced movers should be allowed to complete the requirements for moving the mobile home. These include detaching it from the attachments in the ground, jacking it and attaching transport tongue, wheels and axles. Porch lighting, satellite dishes and any other exterior fittings that may not hold up in high winds should be removed before the house is transported. Screw the doors shut to avoid them opening while the move is in progress. Reinforce or refasten any weak or loose siding to prevent them coming off with the wind force.
The skirting products of the mobile home are designed to protect the home from certain animals such as rodents and the likely damage caused by them. Some are decorative as well as functional and available in several styles. These skirting also hide the support columns and the chassis of the mobile home. These can be removed easily and care should be taken to ensure no damage is done to the track that secures it to the house.
There’s a lot more to know and do than simply finding out how to transport a house on a tractor trailer. For instance, electric companies and other utility providers should be notified of the move and the owner should work with them to have the utility shut off. If you are not certain how to disconnect the utilities yourself, it is best to hire qualified persons to adequately do the job.
Most Of Us Think Of The History of Transportation In Terms Of Ourselves
Try to think of how long the world has been in existence. Now try to think of how long man has existed in this world. Transportation can not be traced back to a specific time or time period except that it probably started when man decided to venture out from whatever his abode might have been in the beginning. In other words, man’s curiosity about the area beyond where he lived necessitated transporting himself to those areas.
Actually, the first mode of transportation was “Walking” that is, to transport human man as well as moving goods or property that could be carried by Humans. Therefore, you could proffer a guess as to the beginning of transportation as it is defined in the dictionary. “The process of moving something from point A to point B” to keep it simple. So, we might conclude that transportation is as old as man and will probably exist as long as man continues to exist and changing as technology allows it to change.
Lets Start With Ways We Transport Things Today And Work Backwards
Today we transport people, goods and anything we want to move using roads, rails, water, and air as our primary methods of transportation. We are able to move almost anyone or anything from anywhere in the world to anywhere else in the world we want. Not only that, with the invention of the airplane leading to the invention of the rocket ship, we are now transporting people and things from the earth to other destinations in space.
You remember in the Bible the story of the Tower Of Babel. The inhabitants of the earth came together and built a tower that reached into the heavens as they decided they wanted to find God there. And God realized that they could actually do it as they were of one mind. So, he caused them to speak in different languages in order to keep them from being able to understand each other and that ended that ambitious project. Well, we are getting close to what they had tried to do with our exploration of space.
So, now we have space ships to move us to the heavens, giant ships to move cargo and people to all parts of the earth. Then we have trains that move cargo and people from one part of land to another all over the world. We have Airplanes that move cargo and people to destinations all over the world as well. Then we have cars that we use to take us where we want to go from the grociery store or from one end of a country to another and into other countries as well.
We also have bicycles and motorcycles to transport us to and from one place and another. How about those electric personal transporters that a person stands on and moves around simply by leaning forward or backward. We have come up with every kind of vehicle to transport ourselves and our goods and we have just begun. We even have vehicles now roaming distant planets looking for the possibility of life sustaining materials. We have satellites orbiting the earth that were transported there by rockets. We even have a space station orbiting the earth and we use shuttles to transport people and goods and equipment that is needed to carry on experiments.
That’s where we are now. How long did it take us to get here?
It Really Took A Long Time To Get To Today’s Transportation
While it did take us a very long time to get to today’s transportation efficiency, it was not that long ago that we did not have airplanes to transport us or our goods by air for long distances as well as short distances. However, we did have a method of air transport in the hot air balloon. This of course was not an efficient or timely way to move goods.
Prior to airplanes to travel and transport peolple and goods, the automobile was coming along. However, there was not much time between these two inventions and each of these inventions, while at the time were very basic, it did not take much time for them to develop. The development of these two inventions was so rapid that it changed the world as we knew it just a little over 100 years ago with respect to transportation. Of course there were many other forms of transportation prior to these inventions.
There was the horse and buggy, there was even transportation by rail. We used horses to pull stage coaches to move people and goods from one place to another. Of course horses go back a long way as well as rail movement. Things were being moved by rail as long as 500 years ago. Of course, it was not like it is with today’s railroads.
Transportation Dates Back To Prehistoric Ages
Of course the invention of the wheel began to turn things around when it came to being able to transport things more easily. However, there were real drawbacks which included the terrain. That’s when man decided to begin to build roads for land travel. And that goes back a long way. However, prior to the invention of the wheel, man learned how to tame animals and use them to transport their belongings and themselves over longer and longer distances.
As we go back in time to see how transportation developed, we cannot forget boats, ships, rafts etc. Man learned how to move accross various bodies of water because he was curious to know what was beyond what he could see. And once he was able to construct something that would take him there, he became even more mobile using these watercraft, however simple they were to transport them and their goods as well.
So now we have a good idea of how transportation developed from prehistoric times until our present day. While it took many centuries to develop modes of transportation to make things simpler, easier, more efficient, and less expensive to transport, once that development reached a certain point, it took on a startling speed. Probably the most rapid growth of transportation has been in the last 200 years. In that short a period, we have gone from horse power to rocket power and everything in between.
Where Would We Be Without The Modes Of Transportation Of Today?
It would be impossible to realize how important transportation as we know it is to society today. It is certain that it could be said to be the anchor of our society making our lives on a day to day basis much simpler than we could ever imagine if we did not have it. Think about how it would be if you had only your legs to propel you to where you wanted to go today. Or, if you only had an animal to carry you and your belongings here and there. How about a wagon pulled by an animal as your only method of transport.
As you can see, things changed as man became more curious about his surroundings and looked for ways to explore them. Eventually, this led to various inventions through history culminating in the inventions of all types of machines to accomplish transporting ourselves and our goods easier and easier and more efficiently as well. There are four basic modes of transport that can be categorized as responsible for the evolution of transportation and we will investigate these here.
Transportation Categories Include Land, Water, Rail, Air
Let’s look at the evolution of basic land transportation which is one of these four categories. We started by walking on land, riding animals to cross land distances and with the invention of the wheel, we greatly improved our ability to travel over land.Once that happened, man began to connect different locations with roads making the use of wheeled transports a little more comfortable that was otherwise harder over rugged terrain.
Some of the first good roads were constructed by the Romans to enable quick movement of their armies and some of them are still in existence today. Then in order to speed up the transportation process, man invented machines to help carry himself and his goods. Thsi included everything from bicycles to buggies and then of course cars and trucks etc. However, transprotation remained expenseive and sluggish until the industrial reveloution which produced engines that used steam and then other fuels. The invention of these engines was what rapidly changed the face of transportation over land.
Next we have water transport that goes back quit a long way from swimming, crude rafts, crude boats, and then to more sophisticated boats using wind power with sails, manpower with human rowers and then steam and fuel fired engines to power bigger and bigger boats and ships. Since man settled quit frequently near bodies of water and man also began to become businesslike and wanted to travel between these settlements as well as being able to have a good food supply that being near the oceans and rivers afforded him.
Now of course, we have giant cargo ships and huge cruise ships as well as barges and many other forms of water craft to transport us and move goods around the world. These cruise ships are actually complete cities that have everything anyone could want in the form of luxury and entertainment. One of these cargo ships can transport enough goods to supply a small city with everything it would need to provide for its inhabitants.
It Is Hard To Imagine The World Without A Way To Transport Anything
There are two more basic or broad categories of modes of transportation that we have yet to cover and they are Rail Transport and Air Transport.
While rail transport is generally believed to have it early beginnings for the purposes of transportation about 500 years ago, there are other earlier indications of the use of this method for modest movement of goods. It has been called “Wagon Way” and can be traced back as far as 600 BC to Greece and used wagons pulled by men or animals along grooves that were carved in limestone. This allowed the wagon to travel in a predetermined pattern without the need to steer it. These systems were only a few kilometers long at best but provided a quick way to move goods those short distances. There are also discoveries that indicate these systems were used by the Romans as well.
Then the system of rails began to be improved using wooden rails and wagons again pulled by either men or in most cases horses. It wasn’t unitl the early 1800′s that the modern railway system came into being in England. As time went on, new inventions spurred the growth of rail transportation to where it is today the backbone of most any economy. The steam engine was a huge jump for rail transport and remained so for almost two centuries until the fuel powered engine eventually replaced it. Rail has become a very fast way to travel, it is economical and can transport large amounts of people and goods for long distances.
The Final Frontier Of Transportation Would Be Air Travel
Who doesn’t know that the Wright Brothers invented the airplane in 1903? Air travel prior to that time, if you want to call it air travel was limited to going up in a balloon type contraption. So, the invention of the airplane changed the way we would live in the most drastic ways. It was a dream come true and made life easier and more luxurious for nearly all of us. Man has always wanted to explore regions as far away as he can possibly go, has always wanted what he does not have, and is willing to do whatever it takes to get what he wants.
That characteristic is what led us to where we are today in air travel. Think about it! you can go just about anywhere in the world in a few hours by airplane. We have made the statement “Man In The Moon” a reality with the inventions that are a result of mans curiosity, drive and creativity. We are at the precipice of being able to go to the far reaches of the universe to quench our thirst for more and more knowledge of who we are and precisely where we fit in to the universe itself.
It is amazing that as far as air travel, it has all happened essentially in a little over 100 years. Most of us that are alive today really do not know what it was like to not have big boats and ships, fast cars and trucks, long fast trains, and airplanes and space ships. We look forward to even bigger and better ways to travel and transport goods. The future of transportation is huge.
ABC Analysis The classification of items in an inventory according to importance defined in terms of criteria such as sales volume and purchase volume.
Absorption Costing Applying variable and fixed costs to the value of inventory.
Acquisition Logistics Acquisition Logistics is everything involved in acquiring logistics support equipment and personnel for a new weapons system. The formal definition is “the process of systematically identifying, defining, designing, developing, producing, acquiring, delivering, installing, and upgrading logistics support capability requirements through the acquisition process for Air Force systems, subsystems, and equipment.
Advance Cost Models The development of costing analysis that span a total supply chain network. Network constituents pinpoint the values at each point of connection – from initial supplies to final consumption and post-sale service.
Advanced Supply Chain Management Creating and maintaining a network of organizations dedicated to building and constantly improving a value chain constellation focused on a particular industry, market segments and consumer groups. This concept is the culmination of supply chain management, in which a trusting network of suppliers, manufacturers, distributors, and sales and support specialists works interdependently to achieve market dominance.
Air Freight Forwarder An intermediary that solicits shipments and tenders consolidated loads to airlines.
Air Ride Suspension Suspension which supports the load on air-filled rubber bags rather than steel springs. Compressed air is supplied by the same engine-driven air compressor and reservoir tanks which provide air to the air brake system.
American Standard Code for Information Interchange The American Standard Code for Information Interchange is used extensively in data transmission. The ASCII character set includes 128 upper and lower case letters, numerals and special purpose symbols, each encoded by a unique 7-bit binary number.
Available-to-Promise (API) Inventory An online display of the goods in inventory, throughout a full supply chain network, offering the viewer the opportunity to determine what is available for immediate delivery, where any particular order has progresses, and what back-up supplies can be accessed to complete an intended order.
Backhaul The portion of a transportation trip that returns carrier’s equipment to the origin point or back to their home terminal.
Bar Coding Graphical representation (generally narrow and wide bars) that represent one of a number of numeric or alphanumeric standards.
Benchmarking A management tool for comparing performance against an organization that is widely regarded as outstanding in one or more areas, to improve performance in those areas.
Bill of Lading (BOL) A shipping document that acts as a contract, a receipt, and evidence of title (ownership).
Bonding Generally used by service companies as a guarantee to their clients that they have the necessary ability and financial backing to meet their obligations.
Breakbulk Trucking Terminal A facility that receives loads from local, other breakbulk, and relay terminals and sorts the cargo for shipment to further points.
Break-Even-Analysis An analysis method used to determine the number of jobs, products, and/or services that needs to be sold to reach a break even point in a business.
Broker (trucking) An intermediary who tries to match trucking companies desiring traffic with shippers needing trucking services.
Capital The resources, usually cash or credit, available for investing in assets that produce output.
Cash-to-Cash Cycles The time accumulated between the expenditure for necessary raw materials and supplies until the receipt of payment from the customer for receipt of the finished goods.
Collaborative Planning The process through which a firm works together with its suppliers and customers to design and forecast demand for products.
Continuous Replenishment Process (CRP) A system used to reduce inventories and safety stocks while improving service to customers and consumers.
Crossdocking The holding and movement of goods directly from a receiving position to accumulation of full order and direct loading to an outbound carriers, to eliminate storage and handling expense.
Current Ratio A ratio Used to determine the difference between total current asset and total current liabilities.
Customer Service Activities occurring between the buyer and seller that enhance or facilitate the sale or use of the seller’s products and/or services.
Database Mining The analysis of information residing in collective databases across a supply chain network to develop information for sales groups. The sales force can then offer opportunities and solutions for specific business customers and consumer groups.
Deadhead A transportation industry term used to describe when a truck & trailer is moving down the highway without a load on the trailer. Also referred to as “Deadheading”.
Direct Store Delivery A logistics system designed to improve service and reduce warehouse inventories by having the seller move the ordered goods directly to the retail outlet.
Distribution The transfer of goods from a manufacturer, producer, or distributor to a business customer or end consumer.
Downstream The processes in a supply chain that occur after manufacturing or conversion that are dedicated to getting goods and services to customers and consumers. These processes usually involve warehousing and distribution, with subsequent transportation to retail outlets.
Driver Assist Cost This is where a driver is asked to assist in the loading or unloading process. Depending on contract or situation, this is treated as an extra charge on a per hour or flat rate basis.
Dry Van A non-refrigerated, non-insulated semi-trailer handling general commodity freight or Freight-All-Kinds (FAK) which can withstand outside temperatures without suffering damage. Dry vans come in varying lengths and widths – Lengths of 45′ to the most common and popular length of 53′ and widths of 96″ to 102″. Dry vans also have either duel swing doors in the rear of the trailer or a roll-up single door. Depending on the unladen weight of the tractor, most dry vans can legally carry up to 46,000 lbs in product weight.
e-Business The use and application of electronic commerce models and techniques to improve internal and external processes that impact on the creation, manufacture, storage, and delivery of products across a full supply chain system.
e-Commerce The use of computer-to-computer technology to transfer information important to the buying, manufacture, selling, distribution, servicing, and accounting processes inherent in supply chain activities.
e-Networks The system of collaborating firms, linked electronically across a full supply chain system, so the business customer or final consumer perceives that a seamless system of response is at work delivering the desired goods and services.
e-Supply Chain Systems designed to create the necessary Internet-enabled links among data, communications, and network effectiveness.
Economic Value Added (EDA) The calculation of real return on assets employed.
Economic Data Interchange (EDI) Computer-to-computer communications between two or more companies so such entities can enter purchase orders, generate bills of lading, expedite orders, and most commonly, pay invoices. EDI enables a firm to access the information systems of suppliers, customers, and carriers and to determine the current status of inventory, orders, and shipments.
Enterprise-Wide Resource Planning (ERP) An advanced planning and scheduling system through which orders are entered directly into the company’s planning systems, and manufacturing is coordinated to take advantage of full systems integration, from material supply through final goods production. Various systems will include a menu of possible applications.
Exclusive Use a common option in shipper where a shipper will request exclusive use of a truck – meaning that their freight is the only freight on the truck from origin to final destination.
Extranet A network based on Internet technologies that provides private and proprietary connections. Computer-to-computer technology between external partners to a supply chain network is used to transfer information important to the buying, selling, manufacture, distribution, and accounting processes inherent in the supply chain activities.
Fill Rate The percentage of ordered items that are completely delivered in one shipment.
Finished Goods Inventory (FGI) The products ompletely manufactured, packaged, stored, and prepared for distribution to a business customer or end consumer.
Fixed Cost/Expenses Costs that do not flucuate with the volume of business in the short term.
Flatbed flatbeds are trailers that are flat and solidly built to handle heavier and bulkier loads like metal, equipment, and machinery. Flatbeds come in varying sizes – Lengths: 42′ to 53′, Widths: 96″ to 102″, and most can handle up to 48,000 lbs. Flatbeds are usually equipped with chains & binders, straps, tarps, and even sometimes ramps to haul cars, utility vehicles, and miscellaneous machinery.
Forecasting A prediction of future levels of business commerce, particularly in items of anticipated volumes of product orders, demanded by customers in a specific time unit (week, month) in a forthcoming time period (quarter, year).
Full Truckload (TL or FTL) a full truckload is one with a total weight of 30,000 lbs or more and takes up 30′ or more of the trailer’s deck.
Information Systems (IS) Managing the flow of data within an organization and between its external partners in a systematic, structured, and effective manner, to assist in planning, implementing, and controlling all of the process involved.
Information Technology (IT) The systems, procedures, software, and hardware involved in establishing an effective and leading-edge methodology for enabling a total supply chain network of response – from incoming materials through delivery and satisfaction with finished goods and services.
Integrated Enterprise Resource Planning (I-ERP) The integration of ERP systems across a full value chain (manufacturer > distributor > logistics provider > contractor > end-user), whereby the network constituents share demand and supply information to optimize the use of total assets and achieve above-industry average standards of customer satisfaction.
Intranet A private network based on Internet technologies that provides an inexpensive electronic network, through which a nucleus organization and its internal constituents are given access to priviledged information permitting them to add value to supply chain processing.
Inventory Management Administering the amount of inventory and safety stocks required to meet or exceed current actual customer demands. This process includes proper planning, adequate stock positioning, monitoring of stock levels, and ensuring of product availability at the point of need to meet current demand.
Just-In-Time Inventory Systems (JIT) An inventory control system that reduces inventory levels by coordinating demand and supply to the point where the correct amounts of the desired items arrive just in time for use.
Kitting The process through which individual items are grouped or packaged to create a single shipment.
Layover A delay preventing a driver from unloading as scheduled at destination or loading at scheduled origin. Carriers charge anywhere from $50 to $150 per layover (24 hour period).
Less-Than-Truckloads (LTL) loads weighing less than 30,000 lbs and taking up less than 30′ of deckspace on the trailer. LTL’s are significantly cheaper in price ranging from $.50/mile to $1.00/mile depending on the characteristics of the partial load. LTL’s are usually combined to make up a full truckload using multiple resources (other customers, brokers, or competing carriers). LTL shipments using a truckload carrier usually takes up to 4-10 days to deliver so that carrier can fill out the rest of the trailer.
Logistics The process involved in transferring goods through manufacture, storage, and transportation to business customers and end consumers.
Logistics Channel The network of intermediaries engaged in the transfer, storage, handling, and communications that contribute to the efficient flow of goods to customers.
Materials Requirement Planning (MRP) A decision-making technique used to determine how much material to purchase and when to purchase it, so it meets the needs of the manufacturing plan.
Network-Focused Metrics Measurements that are based on the performance of the entire supply chain network – from raw materials to end consumer – such as total cycle time or returns from the entire chain.
Order Cycle Time The time that elapses from placement of order until receipt of order, including time for order transmittal, processing, preparation, and shipping.
Order Fulfillment The process involved in receiving and entering orders, passing the orders through planning, and scheduling and completing delivery of the orders after manufacture.
O, S,&D Is a term pertaining to a load that means “over, short or damaged”.
Partial Alliances Limited financial investments with suppliers, distributors, or customers designed to achieve revenues for all members of the alliance.
Point-of-Sale Information (POS) Price and quantity data from the retail outlet as sales transactions occur, reflecting the actual consumption of specific items.
Process Mapping The drawing out of the process steps involved in a particular portion of a supply chain or the totality of the supply chain network, with particular depiction of the hand-off that occurs between members of the supply chain.
Project Logistics Specific internal warehouse, transportation, or distribution projects.
Purchasing The functions associated with acquiring the goods and services a firm needs to operate its business.
Quick Response A method of maximizing supply chain efficiency by rapidly responding to specific orders with the correct amount of product drawn from a minimized inventory.
Ragtops A type of trailer in the form of a large box open at the top, on top of which a canvas is spread to protect the cargo from outside elements. They are primarily used for large, bulky bales, boxes, loose materials, nursery stock shipments, and some grains.
Reefer A refrigerated, insulated semi-trailer that required maintained, pre-determined temperatures controlled by a temperature control unit located in front of the trailer. Reefer units come in varying sizes from 30′ to 53′ in length. Reefer’s are also considered specialized equipment since most can be separated into two to three sections (frozen, refrigerated, and dry area sections). Mainly used for perishable item transport.
Reengineering A fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in performance.
Reverse Logistics The process of collecting, moving, and storing used, damaged, or outdated products and/or packaging from end users. Safety Stock – The inventory a company holds beyond normal projected needs, as a buffer against delays of receipts of orders or changed in customer buying patterns.
Round Trip also called “round robin” a round trip is where a driver moves a load to a point, reloads at that point, and returns with a load back to the original point of pickup. Round trip loads are usually priced at a discount since the driver does not incur any deadhead cost once he delivers.
Sourcing The methodology involved in procuring the necessary materials, supplies, and services necessary to sustain a supply chain system.
Stepdeck also referred to as “dropdeck” is a type of trailer that is similar to a flabed but has one built in step to the deck to provide the capabilities of loading higher dimensional freight on the lower deck. Stepdecks can usually load a commodity as high as 10′ tall without being over the 13”6″ height regulation and still load up to 45,000 lbs. Most trailers have either 8 ft on the top deck with 40 ft on the bottom deck or 11 ft on top and 37′ on bottom. These trailers are known for hauling specialized equipment/machinery.
Stock-keeping Units (SKU) A single unit of a manufacturer’s line of products, such as a particular gauge of steel coil or type of lumber.
Stop-Off(s) Additional drops a driver makes before final destination to create full load. Stop-off charges vary from $25 to $75 per stop depending on requirement plus any additional out-of-route miles the driver incurs.
Supply Chain The core business processes that allow a company to create and deliver a product or service from concept through development and manufacture or conversion into a market for consumption.
Supply Chain Management (SCM) The methods, systems, and leadership that continuously improve an organization’s integrated processes for product and service design, purchasing, inventory management, manufacturing, or production, order management, logistics, distribution, and customer satisfaction. Implementing SCM principles involve such techniques as working with suppliers to optimize the cost of supply, introducing flexible manufacturing strategies and systems, and using process redesign to streamline systems.
Supply Chain Optimization The development of the lowest-cost and most effective system of supply chain interaction through sharing of best practiced between constituents, resulting in virtually no waste across the network and above-industry levels of customer satisfaction.
Supply Chain Network The linkage of business firms into a concerted effort to apply mutual resources for achieving mutual benefits across the full supply chain system, from primary raw materials through consumption and recycling. Firms might be part of several such networks.
Supply-Demand Linkage The connection of a demand chain (forecasted buying patterns modified by the flow of incoming orders) with a supply chain (flow of products and services in response to actual orders), whereby replenishment is in response to actual pull-though consumption.
Tankers A type of trailer in the shape of a large tank that is designed to handle liquid and dry bulk product. Some tankers are gravity fed through a top dome lid and emptied through a center or rear valve, while others are pumped or fed pneumatically. Most outside shells of tankers are made out of aluminum or stainless steel. Tankers mainly haul food grade products (juices, milk, sugar, syrup, etc) chemicals, refined products (gas, diesel etc), asphalt, and dry bulk (grain, flour etc).
Third-Party Logistics Provider (3PL) A firm that supplies logistics services (particularly transportation and warehousing) to other companies.
Total Quality Management (TQM) A management approach in which managers constantly communicate with all organizational stakeholders, to emphasize the importance of continous quality improvement and total elimination of waste.
Upstream The processes that occur before manufacturing or conversion into a deliverable product or service, usually dedicated to getting raw materials from suppliers.
Value-Based Metrics Measurements that catalog the network’s ability to optimize total systems cost, while delivering the highest possible customer satisfaction.
Value Chain The result of transforming a full supply chain system through the application of activity-based costing techniques, into a process map that includes all significant costs at each step in the process. This determines the total cost of delivering the final product or service to a satisfied customer.
Value Chain Constellation A consortium of companies linked together to build a superior supply chain network with a focus on specific markets, customers, products, and end consumers. The purpose of the constellation is to use collective assets and resources to build a seamless network of supply that will distinguish the network from any competing group.
Variable Cost A cost that flucuates with the volume of business.
Vendor-Managed Inventory (VMI) A customer service strategy used to manage inventory for customers to reduce cost and react more directly to customer demand.
Virtual Inventory Systems An online network in which one can find the location of inventory anywhere in the entire supply chain network (in manufacturing, warehouses, or in transit) and divert it, if necessary.
Work-In-Process (WIP) Parts and subassemblies in the process of becoming completed assembly components.
Do you have a shipment but not sure what size is considered oversize? Not sure who to call or what to do? Well no need to look any further!
There are many rules and regulations involved with transporting over-dimensional loads that many people may not know. Material is considered an oversize (over-dimensional) shipment when the dimensions transcends the standard legal size and/or weight. Axle limits are included per load; however, if the load exceeds the axle limits but not the total weight limit then the shipment would not be considered over-dimensional. At this point, the driver would need to have the material shifted to get to legal axle limits. There are many products deemed as oversize/overweight and some examples are; farm equipment (i.e. combines, tractors, etc), construction equipment (i.e. bulldozers, cranes, beams, steel, etc), and pre-assembled homes.
Most oversize/overweight shipments generally need special permits and/or pilot cars (escorts) adding more freight costs to legally transport the shipment on roadways. Prior to a truck driver loading an oversize/overweight shipment those special permits must be ordered from the Department of Transportation (DOT) in each state or from a permit company. When a customer needs to know the arrival day/date of the over-dimensional/overweight shipment in transit, PLEASE keep in mind the driver must abide by the rules and regulations enforced by the DOT. Truck drivers must have their Federal Motor Carrier Safety Regulations book in their trucks, at all times. Truck drivers are limited to the hours in a day he/she is allowed to drive, truck drivers must stop at each scale house/station in each state so paperwork can be verified, load can be inspected, and weight can be checked. Truck drivers are only allowed to transport the oversize/overweight shipment on the route approved by the DOT. The majority of Federal/State holidays will prevent a truck driver from transporting the oversize/overweight shipment as well, so you will need to keep that in mind too. Each country and its regions have different variances with legal dimensions and weights.
How do I know if my product is considered oversize? If your oversize/overweight shipment is being transported in the United States and over 8 feet 6 inches in width, then it is considered an over-dimensional load; any size over that will be over-dimensional. The wider the product is built could potentially require pilot cars (escorts) to be ordered, and depending on that width, police escorts may be needed as well. In my experience from working with over-dimensional loads, I have learned needing escorts for your oversize shipment is where most of the transportation cost comes into play. However, you will need to refer to your contracted transportation service provider and/or Department of Transportation for inquiries.
Can I ship multiple pieces that would cause the load to be over-dimensional (exceeding 8’6″ W)? No! In order for a shipment to be eligible for permits or legally transported domestically, the product must be considered “non divisible”, which means a piece that can not be broken down in to smaller pieces. In other words, if your shipment is 9 feet wide it must be one solid piece not multiple pieces making it 9 feet wide. If your shipment exceeds 8’6″ wide, permits must be ordered. Each states’ cost for permits are different and if a carrier uses a permit company (some states you will have to), and then the cost is more. Most companies will charge $50.00 to $100.00 per state depending on the type commodity being transported, the size of the load, and the weight.
Are truck drivers required to travel with markings on an oversize shipment? Yes! The size of the commodity being transported will determine if the truck driver should have signs and/or lights on their tractor and/or trailer. Typically, drivers are required to use red flags and amber lights so they are visible to others around them. If pilot cars are escorting an oversize shipment then they are required to have flags and/or lights as well. Markings on the truck drivers equipment and/or pilot cars is required by the Department of Transportation of that state in which the load is being transported.
When are escorts required for an oversize shipment? In the majority of the United States any shipment 12 feet wide or under will not require escorts unless DOT requires them to due to construction, detours, etc. Depending on the state, if your shipment is over 12 feet in width, escorts, will most likely be required. For instance, one state may only require a front or rear escort where other states may require both. The cost for escorts varies from one company to the other and is rated on a per mile basis; however, that rate is transportation cost only and does not include hotels, detention, etc. From what I have seen, most escort or pilot car companies will charge anywhere from $1.30 to $3.25 per mile based upon the situation and number of pilot cars involved.
Why are escorts needed when transporting oversize shipments? Escort drivers are there to assist and/or warn the truck driver of what is forthcoming, such as, oncoming traffic, low bridges, accidents, wires, other obstructions. Escort drivers are also there to aide in the safety of the truck driver surpassing slower vehicles or to bypass other obstacles. Most truck drivers and pilot car drivers communicate using a CB radio but if not, then they must be able to communicate through other voice related devices.
Are there drive time restrictions when transporting an oversize load? Yes! In most states, movement of an oversize shipment is allowed 30 minutes before sunrise to 30 minutes after sunset-Monday through Friday. Driver may or may not be able to travel over the weekend-each state varies. There are holiday restrictions, which will prevent the truck driver from traveling with the over-dimensional shipment also. Certain cities have curfews preventing travel so truck drivers will need to find a truck stop and shut down until the curfew time has passed. Curfew could cause a truck driver to layover until the following morning, again, having to make sure he gets through the city before or after curfew begins. There are also certain bridges, mainly in the New England states, that have oversize load restrictions and could delay the truck driver as well. Many truck drivers with oversize transporting experience will carry some type of oversize and overweight book stating the rules and regulations. Truck drivers can usually find these pamphlets or pocketbooks at most truck stops across the USA.
If you have any other questions or concerns regarding over-sized loads or would like to schedule an over-sized load pick up, we suggest contacting a qualified over-dimensional carrier in your area.
The trucking industry is the engine that powers the US economy with approximately 11 million trucks delivering 14,547 million tons of cargo in 2013. This is according to data published by the Federal Motor Carrier Safety Administration. In addition, road crashes involving trucks and buses increased by 22% in 2014 compared to the previous year. This raised the cost of large truck and bus crashes by 7% to $112 billion in 2014. Luckily, trucking companies can avoid these losses by purchasing long haul insurance. Here are five tips for finding the right long haul trucking insurance coverage:
Shop Around
It is wise to start by shopping around and gathering as much coverage information as you can. Leverage the power of the Internet and social media platforms to get information from diverse sources. Pay more attention to information published on reputable sites, in peer-reviewed publications, or authored by industry experts. This is important because anyone can publish content online and make unsubstantiated claims. Shopping around will also enable you to compare the cost of monthly premiums. Additionally, you should seek the opinion of an insurance broker or industry insider about insurance products that offer the best value for money.
Coverage Features
Most long haul trucking insurance policies incorporate features such as:
• Primary liability
• Auto liability
• Physical damage (auto)
• Non-trucking use liability
• GAP coverage
• Combined deductible
• Trailer interchange
• Rental reimbursement
• Earned freight charges
• No co-insurance penalties
• Family emergency travel coverage
• Towing expenses
• Removal of debris and pollutants
• Reload expenses
• Catastrophic losses
• Traffic and security expenses
However, take note that carriers may use different names/terms to define the features in their policies. What’s more, features could be defined using legalese that lay people do not understand. For this reason, it is advisable to go through coverage terms and conditions carefully. If you are unsure of certain clauses, consult a legal expert with in-depth knowledge of the insurance and trucking industries.
Exclusions
Although insurance policies come with exclusions, majority of consumers rarely investigate these exemptions. This is not wise for several reasons. Firstly, some carriers use exclusions to hide financially disadvantageous terms from policy buyers. In addition, some carriers use exemptions to avoid the responsibility of paying out compensation. With this in mind, unscrupulous carriers tend to hide exclusions in fine print. This means you should thoroughly read and understand the policy.
Financial Stability
Investigate the financial stability of a carrier exhaustively before signing up for coverage. For publicly traded carriers, find out if they comply with acceptable financial reporting standards and guidelines/standards instituted by regulatory authorities such as the Securities and Exchange Commission (SEC). The aim is to ensure that you select a carrier with a solid foundation that can honor its obligations and will be around for years. Do not believe the word of smooth talking executives or glitzy ads because the subprime mortgage crisis and the ensuing financial crisis showed that con artists can bamboozle Wall Street experts easily.
Monthly Premiums
When evaluating monthly premiums, pay special attention to deductibles and interest rates because they play a significant role in determining the amount you will be expected to pay monthly. This may necessitate wading through fine print and multiple price comparison engines. Cross check figures published by third parties with those published by carriers to avoid the risk of using outdated data. At the same time, do not base your choice solely on cost. Instead, you should choose a product that fully meets your coverage needs.
Conclusion
The US trucking industry is the backbone that supports supply chains across multiple industries including e-commerce, hospitality, and health. Unfortunately, cargo deliveries expose trucking companies and their drivers to billions of losses annually, which cannot be managed effectively without the right insurance coverage. Some of the main factors to consider when shopping for long haul trucking insurance include the financial stability of an insurer, policy features, monthly premiums and exclusions.
Cargo damage can occur at any time, so if you’re wondering what is motor truck cargo insurance and if you should buy a policy, keep in mind, accidents, even natural disasters happen every day and it’s too risky to gamble. According to the Federal Motor Carrier Association, a trucking accident can result in an average of $149,000 worth of loss revenue, and that doesn’t include the cargo. Yet, costs are controllable.
Who Needs Motor Truck Cargo Insurance?
Without cargo insurance, any damage to transported goods could potentially put a company out of business. Even worse, a business could face a ruinous lawsuit resulting in judgments. Moreover, many drivers are not even sure if they require a separate policy, mistakenly assuming they can get by with their current liability insurance. If you’re transporting cargo, you need this coverage because it precludes damages to a vehicle.
Cargo carriers transport goods for delivery to third parties by means of trucks. In spite of the greatest care, an accident can occur at any time. There are also many other risks associated with transport. This can lead to damage during loading and unloading, or due to a poorly secured load. The risk of theft as well as damage due to vandalism is also very high. Natural forces such as hail or storm also repeatedly cause transport damage. It is also wise to remember, in many cases there is a legal liability limit. This is why a corresponding insurance policy for cargo is indispensable
Why Purchase Cargo Insurance?
No cargo is ever safeguarded against every type of risk. There are several benefits for cargo insurance, especially for goods that are transported over long distances.. Sellers or exporters can make the coverage to protect themselves from a number of unfortunate incidents such as accidents, hijacking of the cargo, or damages during the shipping process from heat or moisture. Depending on the scope of the coverage, cargo insurance can also cover losses resulting from simple negligence.
Bottom line, if you’re wondering what is motor truck cargo insurance really good for, well consider a scenario where the freight is vandalized. Since the underlying value of the goods are insured, any damage during transporting to the destination would result in a partial or total loss payment. Of course, this depends on the conditions of the policy. This approach also makes it easier to recoup any funds that have already been paid out. Seen from this perspective, truck cargo insurance covers the interests of both buyers and sellers, and helps minimize any future losses that can occur when goods are lost, stolen, or during transport damage.
Insuring Your Interests
Everyone understands that the fundamental concept of buying motor truck cargo insurance is to protect one’s own financial interests. What often is not understood are the coverages, conditions, and exclusions, and trying to decipher if a policy is the best fit. Various insurance policies can be complicated, depending on the commodity transported; therefore, it’s best to get a few quotes for comparison.
The trucking industry is the engine that powers the US economy with approximately 11 million trucks delivering 14,547 million tons of cargo in 2013. This is according to data published by the Federal Motor Carrier Safety Administration. In addition, road crashes involving trucks and buses increased by 22% in 2014 compared to the previous year. This raised the cost of large truck and bus crashes by 7% to $112 billion in 2014. Luckily, trucking companies can avoid these losses by purchasing long haul insurance. Here are five tips for finding the right long haul trucking insurance coverage:
Shop Around
It is wise to start by shopping around and gathering as much coverage information as you can. Leverage the power of the Internet and social media platforms to get information from diverse sources. Pay more attention to information published on reputable sites, in peer-reviewed publications, or authored by industry experts. This is important because anyone can publish content online and make unsubstantiated claims. Shopping around will also enable you to compare the cost of monthly premiums. Additionally, you should seek the opinion of an insurance broker or industry insider about insurance products that offer the best value for money.
Coverage Features
Most long haul trucking insurance policies incorporate features such as:
• Primary liability
• Auto liability
• Physical damage (auto)
• Non-trucking use liability
• GAP coverage
• Combined deductible
• Trailer interchange
• Rental reimbursement
• Earned freight charges
• No co-insurance penalties
• Family emergency travel coverage
• Towing expenses
• Removal of debris and pollutants
• Reload expenses
• Catastrophic losses
• Traffic and security expenses
However, take note that carriers may use different names/terms to define the features in their policies. What’s more, features could be defined using legalese that lay people do not understand. For this reason, it is advisable to go through coverage terms and conditions carefully. If you are unsure of certain clauses, consult a legal expert with in-depth knowledge of the insurance and trucking industries.
Exclusions
Although insurance policies come with exclusions, majority of consumers rarely investigate these exemptions. This is not wise for several reasons. Firstly, some carriers use exclusions to hide financially disadvantageous terms from policy buyers. In addition, some carriers use exemptions to avoid the responsibility of paying out compensation. With this in mind, unscrupulous carriers tend to hide exclusions in fine print. This means you should thoroughly read and understand the policy.
Financial Stability
Investigate the financial stability of a carrier exhaustively before signing up for coverage. For publicly traded carriers, find out if they comply with acceptable financial reporting standards and guidelines/standards instituted by regulatory authorities such as the Securities and Exchange Commission (SEC). The aim is to ensure that you select a carrier with a solid foundation that can honor its obligations and will be around for years. Do not believe the word of smooth talking executives or glitzy ads because the subprime mortgage crisis and the ensuing financial crisis showed that con artists can bamboozle Wall Street experts easily.
Monthly Premiums
When evaluating monthly premiums, pay special attention to deductibles and interest rates because they play a significant role in determining the amount you will be expected to pay monthly. This may necessitate wading through fine print and multiple price comparison engines. Cross check figures published by third parties with those published by carriers to avoid the risk of using outdated data. At the same time, do not base your choice solely on cost. Instead, you should choose a product that fully meets your coverage needs.
Conclusion
The US trucking industry is the backbone that supports supply chains across multiple industries including e-commerce, hospitality, and health. Unfortunately, cargo deliveries expose trucking companies and their drivers to billions of losses annually, which cannot be managed effectively without the right insurance coverage. Some of the main factors to consider when shopping for long haul trucking insurance include the financial stability of an insurer, policy features, monthly premiums and exclusions.