By Tyson Keith for AssuredPartners.com
The year of 2021 has already proven to be a record-breaking year for the trucking industry, as there are more active trucking companies now than ever before. According to the Trucking Register’s May 2021 report, there are 13,200 more active authorities than there were in April, which is nearly ten times the average monthly growth of the industry! This creates an issue for truck insurance carriers, as the industry is not equipped to handle the rapid growth.
Underwriting companies rely heavily on retail agencies to vet each trucking company and give them the insight they need to properly underwrite each risk. With over 431,000 active trucking companies all renewing their insurance on an annual basis, it is more important now than ever to partner with the right insurance agency. Whether you are a new venture planning on running one truck on a local radius, or a 100+ power unit fleet running cross-country, you will want to seek an insurance advisor who has strong relationships with insurance carriers, who is going to represent you well, and who will pair you with the insurance carrier that matches your business goals.
How do you know choose the right agent? Here are five simple questions you can ask as part of your renewal process.
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