Don't over-insure your trucking business

Sep 07, 2021 at 02:37 PM CST
Last month a trucking company in Illinois contacted me. They were concerned about the high cost of their trucking insurance and asked if I could help. I reviewed their policy’s declaration pages and noticed they were paying for insurance that was neither required or really of any use to them. They were paying for coverage that they'd be hard-pressed ever finding a reason to tap. They didn’t have any exposure or risk that would ever necessitate filing a claim under that coverage.

Sep 07, 2021 at 02:37 PM CST

Last month a trucking company in Illinois contacted me. They were concerned about the high cost of their trucking insurance and asked if I could help. I reviewed their policy’s declaration pages and noticed they were paying for insurance that was neither required or really of any use to them. They were paying for coverage that they'd be hard-pressed ever finding a reason to tap. They didn’t have any exposure or risk that would ever necessitate filing a claim under that coverage.