Trucking company says industry is being hurt because of insurance costs

Jan 08, 2020 at 09:06 AM CST
“These lawyers are just having a field day going after big trucking companies. The bigger the company the more they go after,” Royal Jones, CEO of Mesilla Valley Transportation, said. Jones said things were looking good for trucking companies back in 2018. “Last year things kind of leveled out and there was more carriers and not enough freight, but the economy was still good. Just supply and demand. Too many trucks’ rates go down,” Jones said. As rates went down, the price of insurance went up. “Then here comes all this added insurance cost. Ours went up 29% in 2019 and another 28% for 2020,” Jones said.

Jan 08, 2020 at 09:06 AM CST

“These lawyers are just having a field day going after big trucking companies. The bigger the company the more they go after,” Royal Jones, CEO of Mesilla Valley Transportation, said. Jones said things were looking good for trucking companies back in 2018. “Last year things kind of leveled out and there was more carriers and not enough freight, but the economy was still good. Just supply and demand. Too many trucks’ rates go down,” Jones said. As rates went down, the price of insurance went up. “Then here comes all this added insurance cost. Ours went up 29% in 2019 and another 28% for 2020,” Jones said.