FAQ Truck Insurance and Consulting

  1. Сargo and liability truck insurance when i was previously cancelled?

 

Insurance cancellation is something you’ll have to declare with every new insurance provider. A cancelled policy serves as a red flag and you may struggle to find a mainstream insurance provider to cover you.

Unfortunately, your rates will likely increase, as car insurance companies charge more for drivers who have had their insurance terminated. It’s even possible that your previous insurer will not offer you insurance at all, in which case you’ll need to go with another company, such as a nonstandard insurer.

The longer you go without coverage, the bigger the price increase will be when you purchase a new policy.

 

  1. Commercial truck cargo insurance when under someone else authority

 

  1. If truck is not on cargo insurance who is responsible for a claim?

 

The carrier is responsible. For a carrier to be held liable for loss or damaged goods on board, the shipper must prove that their freight was in good condition before it was loading into the carrier’s possession. Shippers have to file their claims within nine months of the delivery or the date upon which delivery should have been initially made.

 

  1. Who is insured under motor truck cargo insurance?

 

It protects both the owner of the goods as well as the insuredparty (or parties) while the cargo is being transported.

 

  1. How work cargo truck insurance deductible?

 

Deductibles vary from $500 to $2000 and are paid first in the event of the claim. This means if your deductible is $1500 and your repairs are $2000, you would pay the repair shop first and the insurer will pay the remaining $500. If you prefer not to have a high deductible, you can pay a higher premium.

           

  1. What is motor truck cargo legal liability insurance?

 

A motor truck carriers’ legal liability (“MTCLL”) policy insures your legal liability to your customers in the event of damage to their cargo in your possession.  This coverage can include storage insurance whilst at terminal(s), if agreed in advance by underwriters.

 

  1. How to check rating of insurance company cargo truck?

 

You can check it out on ameribest.

 

  1. What all does motor truck cargo insurance cover?

 

Motor Truck Cargo insurance provides coverage against the risks of direct physical loss to covered property while in transit and loading or unloading. It covers property while at a terminal or dock awaiting final distribution.

 

  1. What is broad form motor truck cargo insurance?

 

It is such a form that provides coverage for all means of direct and accidental physical damage to the cargo, subject to the policy exclusions.

 

  1. Where can i get truck cargo insurance?

 

There are many companies where you can get truck cargo insurance. However, you need to choose the company that is right for you. Just contact us and we will select a company with the best conditions for you.

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  1. How much will my commercial truck insurance increase from a cargo claim?

 

Commercial truck insurance costs are greatly affected by the type of cargo you haul. Some cargo is just riskier to transport than others. For example, an accident involving a truck transporting heavy farm equipment will likely cause more injury or damage than a truck carrying fresh produce.

When getting a quote, it’s very important to accurately and completely disclose the types of cargo you’ll be transporting to minimize the risk of having a claim denied.

 

  1. Do truck drivers have to change their own tires?

 

Rarely. First of all very few carry a spare around. Fewer still have a jack and lug wrench capable of handling a truck that size.

Most drivers simply avoid having a flat or blow out in the first place, by thorough inspections at least twice a day and getting the tire replaced at the first sign of damage or repair. But, of course accidents do happen from time to time. If the truck is in a remote area away from the interstate, this might require the driver to change the tire themselves.

 

  1. How Much Net Profit Can a Successful Truck Make?

 

The average gross most of trucks are making is between $4,000-$10,000+. An owner operator may take home around $2000-$5000+ weekly, while an investor can make a profit of $500-$2000+ per truck weekly.

Owner operator and Fleet owner earnings greatly depend on the performance of the person driving the truck and the type of operations.
The following factors can greatly affect the profitability of weekly operations:
Mileage driven
Frequency of home time, re-sets and days off
Driver performance (efficient communication, consistency, timeliness and punctuality, knowledge of electronic logbooks)
Truck repairs and maintenance
Type of operations (dry van, reefer, flatbed, team)
Changes in the overall market situations
Seasons
Other factors such as additional expenses (for trailer or other services provided)

 

  1. Dot Trucking Consulting

 

Such companies provide expert consulting and services to the trucking industry and drivers, to help comply with the Federal Motor Carrier Safety Regulations and state law.

 

  1. Trucking Consulting Companies in Illinois

 

You can find the company you need on this website: https://clutch.co/logistics/trucking-companies/chicago

 

  1. What Is the Cost of Health Insurance for a Truck Driver?

 

It depends entirely on your individual situation.

As a general rule, you will get a better deal through an employer than you can ever manage on your own, thanks to the economy of scale provided by the company.

As an individual, you can expect to spend at least a few hundred dollars per month in premiums and, if you actually need care, another five to ten thousand per year in deductibles and co-pays.

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There is a third option. It’s kind of “thinking out of the box” but it works for a lot of people. It’s called “Share Care”, an arrangement among people to pool resources and share each other’s medical expenses. Briefly, participants contribute to the pool (the monthly/annual amount is determined by their current medical situation) and once that obligation has been met, the community comes together to help cover any medical costs the family can’t pay out of pocket.

 

  1. How To Book a Box-Truck (26-Foot) for Transporting Goods

 

Sylectus is a place to go if you’re looking for freight for your 26’ Box truck. This is excellent load board; however, you should prepare yourself to be hefty $500/mo. and they have 12 months contract. Pretty significant investment suitable for companies operating at least 3-5 box trucks.

 

  1. Best Trucking Business To Start

 

Independent Truck Owner/Operator
Owning and operating your own rig is one business opportunity open to those with a CDL. If you decide to haul products across the U.S. and into Canada and Mexico, you’ll be in good company. One in nine of America’s 3.5 million truckers are independent owner operators.

 

  1. What Are the Best Business Models in Trucking?

 

Work towards the spot market or call up business. Work out pricing that covers their cost plus your margin and never dings you for unexpected dead runs. The reason here is you can’t control the CS experience of these trucks. And when a customer sees these guys, they know you sent them. So vet them, but make sure that the drivers never see you as shafting them, nor the customer depending on them. If a customer seems to have consistent business, push them to 1 with better rates.

If it makes a profit consistently, then push the business over to units you control and own. What kills trucking is leaning too much on o/o that go elsewhere for business without warning or aren’t available on demand when needed.

 

  1. Start a Trucking Company Without a Truck

 

You can’t run a trucking company without trucks, so once you’ve got your financing secure, you’ll need to buy your fleet, whether that’s a single truck or 100. Your rig is the key to your whole business as an owner-operator.

Consider your needs before buying or leasing a truck. Owner-operator trucking services vary in purpose. Also, consider what your finances look like. While starting your own trucking company can definitely pay off, you may not currently have the immediate funds to buy a truck with a large down payment or inhibiting monthly payment.
Most importantly, you need to understand your unique situation and goals.
Leasing a truck is useful for keeping monthly costs down. Some places even offer lease-to-own programs. On the other hand, purchasing may save you money upfront, but cost you more later. If you have the capital to make a down payment, you may find that purchasing is the better solution.
Also, keep in mind that used trucks are an option. If you’re considering this option, do careful research, and consider potential truck repair costs and determine the likelihood of technical issues.
Compare dealers and take your time before making a decision.

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  1. What Is Storyboarding in Consulting?

 

Storyboarding is the technique of creating an outline of what you want your final work product to look like, and the structure, flow, and key messages that it will contain. It is done at the beginning of the project to organise thoughts and build a common understanding within the consulting team of the end objective.

In a narrrow, practical sense, it’s using either Outline or Slide sorter functions in PowerPoint.
Using them allows a consultant to see overall story of his/her presentation and check for logic, consistency etc.

This is closely linked to Storylining – drafting your presentation’s “story” – a strawman of the presentation with little to no data and just headers of the slides. This is normally a startin point of working on the presentation.

 

  1. How To Find a Good Consultant for Trucking Company?

 

First of all, start with a research – don’t just rely on what Google say. If you don’t know anyone who can share their experience working with a consultant, or if you can’t get recommendation from a colleague – find a few firms online and check their Google reviews, Facebook page (is it active, how relevant information there is, how many reviews they have and how many stars etc.)
Some companies ask their employees to leave a positive review, so watch for authenticity of the reviews as well as see if there are any negative reviews and how they were addressed. Good company will always take care of unhappy clients, if things go wrong, so if a company has negative review with no reply from the company it usually a red flag that you don’t want to work with them.

 

But if you find a solid consultant with decent number of reviews with positive rating (4 stars +) you may consider giving them a call.

 

If you have immediate question or in look for a solid trucking consultant – save yourself time for research and give us a call!