Insurance costs increased 36% over eight years
Definition
Motor carriers and owner-operators face dramatically escalating insurance premiums, with a documented 36% increase over the past eight years according to ATRI research. This climb in ranking reflects the severity of the problem. Insurance cost increases are driven by multiple factors including excessive litigation and lawsuit abuse reform needs. Rising health insurance benefits are also problematic beyond just liability and collision coverage. Small operators pay substantially higher per-truck insurance rates than large carriers due to lack of claims history and scale. For small fleets, insurance can represent 5-8% of operating costs.
Key Findings
- Financial Impact: $8,000-$15,000
- Frequency: annual
Why This Matters
Fleet safety software to reduce claims, insurance broker for competitive bids, safety training programs, litigation defense services, risk management consulting
Affected Stakeholders
Fleet Manager, Owner/Operator
Deep Analysis (Premium)
Financial Impact
Data available with full access.
Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Sustained freight recession with soft pricing pressure
Non-fuel operating costs at historic highs
Volatile and rising fuel costs impacting operations
Massive cargo theft epidemic with organized criminal networks
Organized undercutting by foreign carriers with non-compliant practices
Freight broker rate compression below cost of legal operation
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