Commercial truck rates are high relative to other commercial lines mainly because claim severity is high. A single accident involving a heavy vehicle can produce injuries and liability well beyond a typical commercial auto loss. In the market we place business in we have seen rates rise over recent years, and the factors carriers point to include the size of injury verdicts, the cost of repairing newer equipment, and driver experience levels. What moves your own premium is more specific than the market trend: radius of operation, what you haul, loss history, your drivers’ records and experience, and the limits your contracts require. Those are the levers worth working on.
Related FAQs
Cargo terms vary by commodity and limit. Some goods may be excluded or limited, so we review the details with you.
Non-trucking liability generally applies when you drive the truck without a load and not under dispatch.
It is a federal endorsement tied to financial responsibility for many for-hire carriers. Whether it applies depends on your operation.
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