Having the proper trucking insurance package is essential for your business to thrive. Over the past 20 years, the trucking industry in Canada has only expanded. The number of truck drivers in the industry has risen from 247,000 in 2001 to over 324,000 in 2021. The pandemic saw a slowdown in the total number of cars on the road, but that’s currently changing. According to BC road safety stats, our province sees a higher number of reported crashes and injuries. In 2017, BC had 150,000 crashes reported to ICBC and 63% of those resulted in injury.
Now with the rising number of trucks and vehicles on the road, accompanied by lagging urban infrastructure, the likelihood of accidents has increased. Your trucking insurance has become more imperative than ever. Below, we'd like to demonstrate the reasons why.
Understanding The Risks of Commercial Trucking
Trucking is an industry that has well-known liabilities and risks. There is a health impact on truckers, as they need to remain seated for prolonged periods, day and night. Plenty of aspects of the job can affect their health, such as the following:
- Stress on the musculoskeletal system by handling and lifting cargo
- Prolonged diesel fume exposure
- Tiredness and fatigue from driving long, non-traditional hours
- Exposure to possible chemicals (depending on the goods)
- Stress and weight problems from a lack of movement during the day
- Lack of sleep from irregular sleep schedules
Tiredness and tight deadlines to complete deliveries also contribute to accidents. The National Transportation Safety Board claims 20-40% of trucking accidents are caused by driver fatigue. All of these factors increase the risk of crashes and injuries you and your drivers face. Ensure your workplace policies foster positive trucking safety for your employees to minimize fatigue. Damaged goods, cargo, and liability are additional risks involved which can be mitigated by proper insurance packages.
Primary Benefits of Trucking Insurance
Insurance policies on paper are an added cost, but they are a necessary expense. The benefits of having proper trucking insurance outweigh the cons of not having enough.
Trucking Accidents Do Happen: Ensure You’re Covered for the Large & Small
Assuming nothing will ever happen to your vehicles is unrealistic. Crashes can - and often do - occur in trucking. They may be small fixes, like an improper parking job or windshield crack, or be a large-scale rollover crash. Being covered for either event will help you protect your investments like your truck, fleet, business and most importantly, your truckers.
Trucking Insurance Protects Your Investment
It’s no mystery that trucks are expensive. Proper trucking insurance helps you retain and protect your valuable investment. Heavy trucking insurance can offer you financial support when you need repairs or a replacement for your commercial truck.
At Blue Capital, there are insurance policies that are tailored to your specific trucking needs, whether you own a single truck or a large fleet. Check out our protection products for more information.
Downtime Protection Coverage
Since you rely on your truck financially, it’ll affect your income when it’s not able to operate. Having downtime protection protects you against some of the financial strain on your trucking business. At Blue Captial, we offer support of up to $1000 per week and towing coverage to your business or a nearby repair facility.
Focus On Running Your Trucking Business
Remember if you aren’t insured, your trucking company will run into all sorts of issues. This could range from legal, employee, and customer retention problems.
If your customers are in retail or food, for example, they’ll want to know their cargo is in reliable hands. Suitable trucking insurance can protect your haul for your customers. You can also assure your customers that their goods are covered under your commercial trucking insurance plan.
Trucking Insurance Is A Worthy Investment
We understand insurance costs you, but we can assure you that it’s worth it. While you make regular payments on your plan, we’ll be there when you encounter damage or an accident. This is especially true if you’re operating a trucking fleet, as the potential for damage only increases with more vehicles. Basic trucking insurance is required, and we offer a variety of options that are all centred around your operations’ needs.
If you have any questions about trucking insurance options, we’d be happy to assist you. Contact us for information about our plans today.