High Risk Insurance

The High Risk Insurance of Trucking Industry

The trucking industry is experiencing an increase in non-renewals and cancellations, and high-risk truck insurance is becoming a significant issue. A bad safety score can cause a trucking company to go out of business, but most insurance companies are unwilling to help these companies become safer. So, how can a high-risk trucking company get insurance and become safer? This post will answer that question.

Elite Insurance and Beyond solution.

At Elite Insurance and Beyond, we understand the complexities of the trucking industry and specialize in providing insurance to high-risk companies, regardless of their claims history, insurance history, or safer score. We offer risk management and claims management teams that fight to reduce claims, not just pay out on them. With our experience dealing with complex claims, we can offer a chance to become insured again.

Types of Coverage for High Risk Commercial Truck Insurance

High-risk trucking companies need the following coverages:

  • Commercial Auto Liability Insurance

  • General Liability Insurance

  • Motor Truck Cargo Insurance

  • Refrigeration Breakdown Insurance

  • Bobtail Insurance

  • Hazmat Insurance

  • Pollution Liability Insurance

Insurance for Bad Safety Score Trucking Companies

If your current insurer drops you, and no other insurance companies offer a renewal, then most likely, you have fallen into the high-risk category. Some insurance companies will cancel a trucking company because they have too many out-of-service violations, and actions like these can also affect any other companies offering to insure you. A bad safety score can also be the reason for this. But, we here at Elite Insurance and Beyond are willing to offer a chance to high-risk trucking companies.

High Risk Truck Driver Insurance

High-risk truck driver insurance is hard to come by, but at Elite Insurance and Beyond, we will cover your drivers even if they have been denied for any reason. Improving hiring standards for drivers through DQ File services and ongoing driver training can reduce accidents and violations.

What is High Risk Carrier Insurance?

Trucking companies with bad SAFER scores, high losses, accidents, driver issues, and conditional ratings could be considered high-risk. High-risk means higher premiums and less flexibility in writing those policies. CNS Insurance has markets to shop the high-risk policy and can assist with risk mitigation.

Why Do You Need High Risk Carrier Insurance?

Risk assessments can help point out where the issues may lie. Improving hiring standards for drivers, implementing new systems and processes for vehicle maintenance, and updating policies and procedures in an updated company handbook can hold drivers accountable for their roadside performance. CNS Insurance and CNS together have many success stories from turning clients from high-risk trucking carriers into profitable and sustainable carriers that only attract the best drivers.

In conclusion, at Elite Insurance and Beyond, we understand that the trucking industry can be complex, and high-risk trucking companies have additional challenges. But, with our specialized team, experience, and comprehensive insurance packages, we can help you become insured again and become safer on the road. Contact us today to learn more about our high-risk commercial truck insurance solutions.