In this episode we talk about how to increase your profit margins for your trucking company. Its survival of the fittest, so you better get fit!!

Free resources for the trucking industry:
https://squatchrisktruckingpodcast.transistor.fm/

#truckinginsurance #squatchrisk #truckingindustry #insurancetips #riskmanagement #owneroperator #truckers #fleetmanagement #fleetowner #truckinglife #truckers

The trucking industry has been facing significant challenges, including a recession, surplus in trucks and drivers, inflation, high operating costs, and low demand. Many trucking companies have shut down, and the market has been slow to rebound. However, there are some positive signs, such as falling inflation, stabilized diesel prices, and an expanding economy. To navigate these struggles, truckers can reduce operating costs, emphasize driver retention and safety, utilize technology, prepare for supply chain disruptions, and stay informed about regulations. Insurance rates for trucking have been increasing due to rising claim severity, litigation, and inflation. The industry is expected to bounce back towards the end of 2024, but the timeline remains uncertain.

Chapters

00:00 Challenges in the Trucking Industry
08:29 Navigating the Struggles
13:08 Rising Diesel Prices
23:16 Rising Insurance Rates

#truckinginsurance #truckingindustry #truckinglife #truckingup #fleetowner #owneroperator #owneroperators #industry #transportation #hiringstrategy #rates #viralvideo #insurance #truckers #truckerlife #truckerslife #iana #intermodalcontainers #intermodal #cashflow #cash

Looking for some clear answers on what Non trucking liability insurance is? Or Bobtail insurance is? Wondering if you need it? Tune into this episode and we'll give you the deets on it.

Free Resources/Save money on insurance:
https://squatchrisktruckingpodcast.transistor.fm/

Takeaways

• Bobtail insurance provides liability coverage for drivers operating under someone else's trucking authority when they are not dispatched on a load.
• Non-trucking liability insurance covers drivers when they are not dispatched on a load or hauling a trailer, but it does not cover physical damage to the truck.
• Non-trucking liability insurance is necessary for hot shots and owner operators who use their trucks for personal errands or non-business purposes.
• The cost of bobtail and non-trucking liability insurance depends on factors such as the equipment being used and the driving record.