Tag: insurance

Questions to Ask Your Truck Insurance Agent

Bob Holtzman

For commercial truck operators, when it comes to insurance, a little bit of research can go a long way. From shopping around and getting quotes to going over exactly what is needed to be better protected behind the wheel, there are preliminary measures to account for.

Truck insurance options aren’t all made equally, and that’s why it’s important for those needing coverage to take a proactive approach to finding the best fit. Chances are that multiple insurance carriers will want your business after you first approach them, so be prepared to ask hardline questions to make sure you’re getting everything covered.  Here are five questions to ask agents.

1. How Much Coverage Do I Need?

Truck liability insurance for heavy trucks typically requires the minimum amount of $750,000 as set forth by the USDOT or by the State; but most truck operators select $1mm limits.  Most shippers and brokers require the $1mm limits. While these limit may seem a bit high, big rigs can cause a lot of damage to whatever they hit, even if an incident isn’t the driver’s fault.

Commercial drivers should ask their potential insurance agent to guide them through options related to limits. Also, touch on things like umbrella, or excess, policies that can protect you when it comes to drastic losses.

2. Do You Offer Cargo Coverage?

With different types of cargo comes different types of risks. From grain to livestock, oil to cars to hazmat, truckers should understand the potential risks these individual factors pose. While most truck drivers elect cargo insurance at $100,000 care should be taken to make sure the cargo insurance meets the maximum cargo value being transported.

A trucking insurance agent should know what you’re shipping around and be able to offer the right coverage options based on that.  In addition, cargo insurance policies can differ greatly in their coverage conditions and exclusions and a good agent will help you navigate these complex issues.

3. Can I Get a Combined Deductible?

There are times when an accident causes damage to everything from your truck to your cargo to other vehicles on the road. Each of these types of damage brings their own liabilities. Your insurance package should cover all this, but separate deductibles will apply to the individual factors.

When you get a combined deductible, you’re only responsible for paying a single deductible no matter the coverages used. It makes this process simple and more easily structured.

4. Can You Change My Policy Quickly?

Truckers who find themselves changing out what they haul on a regular basis, or even day-to-day basis, should be able to reach out to their agent at a moment’s notice. Being able to change your policy quickly can provide protection when you are in a situation where a specific coverage is needed.   Your insurance agent, or the office, should be available to you for these changes.

5. What Factors Are Affecting My Premium?

Typically, insurance companies base risk on a number of factors, Age, driving record, credit score, years of experience, distance traveled,  freight carried, and others all play a role in just what affects your overall coverage. If your quote seems high, bring it to your agents attention and ask just what is causing this. There are steps you can take to fixing it when renewal is coming up.

About Western Truck Insurance Services

Western Truck Insurance Services is a commercial truck insurance agency with roots dating back to 1954. We have evolved into a highly respected, professionally managed, truck and transportation insurance brokerage. The hallmark of our organization is our desire to provide unparalleled service. We go way beyond what you expect to receive from an insurance brokerage. Equipped with state of the art automation, Western Truck Insurance can provide you with lightning fast truck insurance quotes, customer service, Insurance certificates and coverage changes.

 

 

What’s the Difference Between Commercial Property and Commercial Equipment Coverage?

Bob Holtzman

For many property owners, the need to carry insurance to protect their land and everything on it is a standard and vital need. Property owners should evaluate what needs to be protected and then re-evaluate on a regular basis to ensure overall integrity.

But the decision to protect everything from heavy equipment to the garages, per se, that house them can bring some confusion. Ultimately, it’s imperative for business owners to invest in the right coverage to protect what is theirs, and educating oneself in regards to finding the right policy or policies needs to be at the beginning.

When a transportation company fires up a new big rig, they reach for dependable truck insurance. So why shouldn’t a business that operates with machinery or houses such equipment find coverage? Let’s take a look at the different between commercial property insurance and commercial equipment insurance:

Commercial Property Coverage

Depending on your company’s location, you may not be required by law to obtain commercial property insurance. However, a business may be required to do so by their lender. Most business owners make a choice to purchase this kind of insurance policy because of the wide range of protection that it provides.

Property that is being leased can also be insured under this policy as well as property that is owned by somebody else. Commercial property coverage provides insurance for any number of buildings, finished additions,  and other business personal property that are part of a business operation.

Specifically, this coverage applies protection for various types of commercial property. You can equate this to coverage for buildings and personal property  in a business. What’s more, if a business suffers a loss, commercial property insurance can provide coverage for lost income and extra expenses. Make sure to assess everything that needs to be covered or have an insurance broker determine what and how much needs to be put under a personalized policy.

Commercial Equipment Coverage

Commercial equipment coverage is also referred to as contractor’s equipment coverage. This policy provides protection for various equipment and machinery from physical damage. This policy goes a step further beyond commercial property insurance by covering what is not designed to be protected under the policy above.

Consider this: Does your business use heavy equipment such as tractors, backhoes, and forklifts? Then this coverage is tailor-made to protect against damage of those items. More often than not a business’s assets are tied up in heavy equipment, making this kind of protection a high priority.

Most people think that a policy like this only refers to physical damages, but it also includes loss due to theft. Stolen heavy equipment numbers are on the rise and commercial businesses need to do what they can to protect against such loss. Depending on where you are at in the country, your heavy equipment may be at a higher risk of being damaged or stolen.

Be sure to work with an insurance broker to understand what your business needs in terms of coverage and what needs the most protection.

About Western Truck Insurance Services

Western Truck Insurance Services is much more than a commercial truck insurance agency. Since 1954, we have provided our clients with unparalleled service for truck insurance quotes, customer service, coverage charges, insurance certificates, and more. We are committed to providing our clients with the service to keep their costs to the minimum and their opportunities to the maximum. For more information about our products and services, give us a call at (800) 937-8785 to speak with one of our experts.

Explaining the Most Important Trucking Bonds

Bob Holtzman

As a trucking company, depending on your state and the type of trucking business you operate, you may be required to be issued one of a variety of bonds, also known as a “surety” bond. Four of the most common trucking bonds are C.O.D. bonds, motor vehicle registration bonds, U.S. Customs bonds, and freight broker bonds. The following information will give you a basic overview of those types of bonds and when they would be necessary for your operation.

COD Bond

COD bonds are also known as Collect on Delivery bonds. With a COD bond, a surety company will provide the obligee a guarantee that clients, vendors, customers and employees will provide payment for financial damages in the event that a licensed business violates licensing laws. The purpose of these bonds is to allow the trucker to deliver freight and collect the shipers payment for the goods being delivered from the consignee (also known as the receiver).

Here’s how these bonds work. The bond will pay up to the bond amount stipulated on the bond form. The surety company reviews claims from the public to determine the validity of their claim, however, the licensed business owner is still responsible for their actions and must reimburse the bond company for payments made of face license suspension. The bond company also directly receives claims from the public and determines the validity of claims.

Ultimately, the licensed business owners are responsible for their actions and required by law to reimburse the surety company for any payments made under the bond or face indefinite license suspension.

Motor Vehicle Registration Bond

Motor Vehicle Registration bonds, also called service bonds, must be issued by an insurance carrier admitted by your specific state. The insurance company issuing any surety bond is referred to as the “bond company” or “surety company”. The trucking company business is called the Principal, the bond company is known as the Obligor and the State Department of Motor Vehicles is the Obligee.

In the event that the Principal violates licensing law, the bond pays the vendors, employees, and customers financial damages up to the amount stated on the surety form. The purpose of this bond is providing the shippers with a guarantee of them receiving their payment from the trucking company.

U.S. Customs Bond

U.S. Customs bond is a financial guaranty between 3 parties: the Principal filing the bond, the Insurance company issuing the bond, and Customs & Border Protection (CBP). The bond is a guarantee to Customs & Border Protection that they can seek financial compensation up to the bond amount in the event that they aren’t able to collect money due from the Principal. The bond indemnifies the surety company, which allows them to collect from the Principal any money that was paid to CBP on the Principal’s behalf, using any legal means.

Freight Broker Bond

The Federal Motor Carrier Safety Administration (FMCSA) has a requirement that forwarders and freight brokers secure a freight broker bond as part of their freight brokerage licensing process. The bond is meant to protect motor carriers and shippers and the contractual obligations they have with freight brokers.  For example, if a freight broker refuses or delays payment unreasonably, the freight broker bond ensures that shippers and carriers receive compensation.

If you have questions about trucking bonds or any other truck insurance needs, we have the answers. Give us a call today for more information about these forms of coverage.

About Western Truck Insurance Services

Western Truck Insurance Services is much more than a commercial truck insurance agency. Since 1954, we have provided our clients with unparalleled service for truck insurance quotes, customer service, coverage charges, insurance certificates, and more. We are committed to providing our clients with the service to keep their costs to the minimum and their opportunities to the maximum. For more information about our products and services, give us a call at (800) 937-8785 to speak with one of our experts.

What Insurance, Permits, Etc. Do I Need to Get Started?

Bob Holtzman

One of the biggest questions we encounter from new drivers is, “What do I need?” Interstate truckers need a variety of permits, registrations, insurance policies, etc. to ensure they are in compliance with various state and federal laws. We can help you with the specifics for your situation (just give us a call), but this will give you a good idea of where to start.

Permits, Authority, and More… What Do I Need?

The various regulatory permits and registrations needed can vary quite a bit depending on which states you’ll be running through, but there are a few basics you’ll most likely need. Let’s take a look:

·         DOT Number

·         FMCSA MC Authority

·         Truck Registration

o   IRP

o   Unified Carrier Registration or UCR

o   IFTA (International Fuel Tax Agreement)

·         Individual State Permits- Some states require additional permits and fees. Things like oversize and overweight permits only apply if your specific load requires it, but some fees apply to even standard sized loads. For example you may encounter Weight Distance Taxes, fuel taxes that are paid to the state directly (and not charged with fuel), property taxes, and other required permits and fees.

Insurance… How Much Coverage Is Enough?

Although you may need higher limits, depending on your circumstances, the following coverages are most common for trucking and transportation:

·         $1 Million Commercial Auto Liability

o   $1,000 Deductible  for Physical Damage Coverage

·         $100,000 Motor Truck Cargo

o   $1,000 Deductible Non-Owned Trailer Coverage

The best way to determine how much insurance you need specifically is to talk with one of our agents. We aren’t just here to sell a policy, but to educate, inform, and help you in your journey. We want you to have access to the highest quality insurance products at highly competitive rates. We can help you determine what coverage you need and which insurer can best provide it.

Getting started in the transportation industry can be confusing, but don’t let that stop you. We’re here  to help you figure out what you need so you can… Travel with Care.

Navigating CA CARB Regulations- 6 Essential Resources

Bob Holtzman

If you drive a tractor-trailer in California, you’ve likely heard about the new regulations from the California Air Resources Board (CARB). The new environmental regulations have been slowly taking effect over the last several years and are now starting to impact small fleets and solo drivers. If you aren’t yet impacted by CARB regulations, you soon will be.

These regulations are complex and varied. The Gross Vehicle Weight Rating (GVWR) of your vehicle, the size of your fleet, the type of trailer you haul, and even where you drive (like ports and intermodel rail yards) impact which regulations apply to you and when they start applying.

To help you wade through the confusion, we’ve prepared a list of helpful resources to help you better understand the CA CARB rules. Keep checking back on our blog as well. We’ve got posts in the works to help you understand the changes so you can… Travel with Care.

·         Which Regulations Apply to You?– Are you confused about which regulations apply to you? This helpful questionnaire from the CA Air Resources Board will prepare an easy list of regulations based on your answers to 3 simple questions. If you have 5 minutes, you can quickly check out which regulations apply to you.

·         Take a Class– If you learn better in person, take a class. There are several classroom training courses available. Many of the courses (all of the ARB Compliance Training Courses) are free to take. Some are offered as webinars; if you have a computer and internet, you can attend wherever your next load takes you and you can even find archived webinar recordings for some of the courses. Checkout the complete list of available courses (click on the course title to see dates, times, and other registration information).

·         Watch a Video– While you’re waiting for that next load (provided you’re in a safe location of course), take a few minutes out to watch a short video on the CARB regulations. You’ll find a variety of informative videos on the ARB TruckStop official YouTube page.

·         Read a Summary– One of the best summaries of the regulations can be found here. It doesn’t cover everything, but it’s a great place to start.

·         Learn the Penalties– Do these new rules really matter? Check out the list of penalties if you don’t comply.

·         Get Help– Sometimes you just can’t find all the answers you need online. If you need personalized assistance, complete the Diesel Assistance Form and you can receive a reply by phone or email. You can also call in yourself at 1-866-6Diesel. Calls are answered between 8 and 5 Pacific Time Monday-Friday and a 24 hour voicemail system is available.

The CA CARB rules are confusing, but if you drive in California, you do need to learn them. Take a few minutes today and start looking at these resources so you can be in compliance.

 

EOBRs: Coming Soon to a Truck Near You?

Bob Holtzman

 

Do you use an EOBR? It sounds like something out of a futuristic movie, but for many truck drivers an electronic on board recording device (EOBR) is simply part of their day to day, helping track hours of service, providing information to their employer about safety, and sometimes even offering navigational help. Since the devices first came to be, government agencies have been interested in using EOBR to improve safety records and cut down on violations.

 

What Are EOBRs?

 

Electronic on board recording devices (EOBR) aren’t a new technology at all. As early as 1990, the National Transportation Safety Board recommended the mandatory use of EOBRs on all heavy duty trucks. Since that time several attempts have been made to require these electronic log books for all commercial drivers although as of now these attempts have been largely unsuccessful and highly controversial.

 

If you aren’t familiar with the term EOBR, you might be more familiar with some of the other terms used to describe these devices. They may also be called ELDs (Electronic Logging Devices), e-logs, paperless logs, etc. The terms may be different, but deep down they are all basically the same devices.

 

Recent Proposed Regulations for EOBR

 

The latest big push for mandatory EOBR devices came this last March with the FMCSA proposing that ELDs be a requirement for interstate commercial bus and truck companies to improve HOS (hours of service) compliance. Speaking of the proposal Transportation Secretary Anthony Foxx said, “Today’s proposal will improve safety while helping businesses by cutting unnecessary paperwork – exactly the type of government streamlining President Obama called for in his State of the Union address… By leveraging innovative technology with Electronic Logging Devices, we have the opportunity to save lives and boost efficiency for both motor carriers and safety inspectors.”

 

The FMCSA believes that instituting electronic logs would reduce yearly fatalities by 20 and injuries by 434. Opponents to the proposed regulations fear that electronic logging could result in driver harassment and will lead to unnecessary expenses that won’t necessarily improve safety. The proposed devices would need to be integrated with the truck engine and be tamper resistant.

 

Electronic Logs: Will They Improve Safety?

 

While controversy remains over whether or not electronic logging devices are worth the investment, many large companies have chosen to adopt them voluntarily. For large organizations these devices can help companies stay on top of problems and provide better service to both their drivers and their customers. By using these logs to improve driver safety, companies can also reduce their insurance rates, often saving a substantial amount of money.

 

What do you think about electronic logs? Are you currently using them?

 

A New Addition to the Western Truck Insurance Services Family

Bob Holtzman

Western Truck Insurance Services and Sentinel Financial are pleased to welcome TNT Insurance Services to their family. This addition will help us bring superior insurance value to our customers from coast to coast. We merged back on May 1 of this year and have been busy, busy, busy getting everything integrated.

These changes are very exciting for us and as our customers, exciting for you too. Let’s take a quick look at the specialized care and services we can now bring you at Western Truck Insurance Services.

·         More Experience– If you need experience to help you navigate through the rocky terrain of trucking, we’ve got it in spades. Together Western Truck Insurance and TNT Insurance have over 300 years of experience. We have the knowledge, skills, and expertise to help you.

·         New East Coast Offices– TNT Insurance is based out of Tampa, FL. We now have an east coast office ready to serve you. We are now here to help 12 hours a day so there’s always a convenient time to get the insurance or service you need.

·         Expertise for Towing Operations– TNT specializes in tow truck and truck insurance. This brings us enhanced expertise for clients with towing operations. TNT’s strong relationships with many tow insurance companies helps us to expand our reach and bring you more insurance offerings.

·         Personalized Service You Can Depend On– Do you need help with your FMCSA, registration, or filings? This new partnership doesn’t change any of the personalized services you’ve come to love from Western Truck Insurance Services. If anything the addition of new helpful staff will help us to serve you better.

·         No Fleet Too Large or Too Small– From an owner operator to a fleet with hundreds of trucks, we are ready to help and serve you. Western Truck Insurance is licensed in 19 states. We know that no two trucking operations are the same and can accommodate anyone from local drivers to nationwide truck drivers.

Let’s give a warm welcome to our new friends and partners from TNT Insurance. We look forward to the future and continuing to bring you the high quality insurance you’ve come to expect. Let us worry about your insurance so you can focus on the road.

Paperwork Fraud: Don’t Be A Victim

Bob Holtzman

 

Outside of the industry, people think that truckers deal primarily with large objects and various types of freight. However, when it comes down to it, you probably spend a lot more hands on time with various types of paperwork. Sure, the freight’s there, but it’s the paperwork that accompanies this freight that you rely on. Is your paperwork in order? Falsified paperwork is more common than you might think and is a contributing cause of theft in the trucking industry. Protect yourself this holiday season by staying alert and by making sure your paperwork is always legitimate.

 

Bills of Lading

 

Bills of lading are designed to protect both truckers and shippers alike. They outline the terms of your contract with the shipper and ensure that both parties are aware of charges, delivery requirements, etc. While bills of lading often protect, fraudulent versions can actually do a lot of harm.

 

Bill of lading fraud can take on many faces, but a few common manifestations include:

 

·         Fraudulent Release Forms- A fraudulent bill of lading or auction release form has the potential to trick the holder of an item into releasing it to an unauthorized party. While not a big problem for truckers, this is something shippers should pay close attention to. Carefully check all documents before releasing a shipment. Make sure paperwork is in order and compare forms (color, style, paper type, etc.) to known legitimate forms looking for counterfeits. 

 

·         Signed as Delivered Without Delivery- A signed bill of lading is your key to payment once a load has been delivered; some truckers falsify these forms to get payment on loads not delivered. Often these falsified forms are processed through factoring companies or quick pay programs so the payment is made before the fraud can be discovered.

 

·         Incorrect Forms- Protect yourself when picking up loads by carefully checking the bill of lading before leaving the pickup site. The items loaded on your truck should match the inventory listed on your documentation. Check serial numbers, etc. to ensure that you have the right load and accompanying paperwork. Any agreed upon terms should be listed on your bill of lading. Pay attention to any restrictions on delivery, especially those that could result in docking of pay (guaranteed delivery dates, etc.). Taking pictures of your load (especially any previous damage) and paperwork can help to protect you should trouble arise.

 

Certificates of Insurance

 

Is your insurance up to date? Falsified certificates of insurance can be a big problem in the transportation industry and are something we all should look out for. We make it easy for you to provide legitimate copies of your insurance information using our simple online tools.  

 

Permits and Other Documents

 

Permits are another paperwork area with the potential for fraud and theft. Make sure that you file for permits yourself or that you use a reputable permit company. Familiarize yourself with the permits needed for each state and with the way each permit should look. Make sure the information listed on your permits is correct from load size and weight to truck information to commodity information.

 

As we enter the holiday season make sure to keep yourself safe from paperwork fraud by staying aware. Make sure your paperwork is in order and have a happy, safe and productive holiday season this year.

 

 

 

Occupational Accident- Who Will Pay Your Medical Bills If You Get Hurt On The Road?

Bob Holtzman

When you get hurt at work, Worker’s Comp comes to the rescue covering medical bills, rehab expenses and more. This important insurance coverage is paid for by your employer. However, in an industry like trucking where many are self-employed owner operators or lease operators, a work injury can prove disastrous. Who pays for your medical bills if you don’t qualify for Worker’s Comp and are hurt at work? How can you protect yourself and your family?

Worker’s Comp- How Does It Work?

Worker’s Compensation is a special state regulated program designed to protect employees and employers alike. Employers purchase work comp insurance which is used to pay for lost wages, medical care, etc. should an employee get hurt on the job.  That insurance  protectsemployers from lawsuits and provides for the injured employee and their family.

While Worker’s Comp policies are often required for employers, they are rarely required for self-employed people or independent contractors. This means a great number of truckers are unprotected when it comes to workplace injuries. Those looking at policies for themselves are often unable to obtain coverage or may find the rates to be out of budget.

Transportation inherently carries a lot of risks. You can be injured while tying down a load, slip and fall on icy pavement or fall while climbing in to your truck’s cab. Injuries can happen at jobsites, pick-ups or drop-offs and anywhere in between. Being on the road puts you at an increased risk for vehicular accidents. Just like any job, working in transportation has its risks. If you are an owner operator or a motor carrier with lease operators, you may want to consider purchasing an insurance policy to protect yourself.

Occupational Accident Coverage

While owner operators and lease operators often are unable to obtain Worker’s Comp insurance, they do still have options. One popular and affordable choice is occupational accident coverage. These policies often provide similar protection to a Worker’s Comp policy, but are available to those working for themselves or that have independent contractors working for them.

Every policy is different, but many occupational accident policies cover things like:

·         Accidental Death or Dismemberment

·         Survivor’s Benefits

·         Medical Expense Benefits

·         Disability Benefits (Temporary or Continuous)

·         And More.

We can help you find a policy that works for your situation and budget. Let our knowledgeable staff help you better protect yourself and your family. When accident strikes, we want you to be able to pay your medical expenses, bills and recovery costs.

If you get hurt on the job, are you protected? Let us help you find the occupational accident policy you need.

Report Claims Quickly and Get the Most from Your Policy

Bob Holtzman

Crunch… it’s a sound no one likes to hear, especially when you’re driving a commercial vehicle.

Unfortunately, accidents do happen, even to the best drivers. In 2011 the FMCSA noted more than 5 million accidents reported to police with 273,000 involving large trucks. Safety can play a big role in helping you avoid these accidents, and when they do occur, knowing how to properly report your claim could be essential in getting you the most out of your truck insurance policy. When you have a claim make sure you report it quickly and thoroughly.

  Reporting a Claim- The Do’s and the Don’ts

  Do…

  ·         Get as Much Information as Possible– After an accident get as much information as possible. This will make it easier for your insurance company to figure out fault and ensure quick resolution of your case. Get as much information as you can from other drivers and passengers involved. Also make a note of any potential witnesses with their contact information.

  ·         Take Photos– A picture’s worth a thousand words, especially after a truck accident. Take pictures any damage (both vehicle and property), the accident scene (skid marks, vehicle positions, debris, etc.), the area where the accident occurred (road signs and markers) and any identifiers (license plates, insurance cards, etc.).

  ·         Contact the Police– While police may not come out to every accident scene, it is always a good idea to advise them of an accident, even if it seems minor.

  Don’t…

  ·         Delay– Report claims as soon as possible after an accident or event. Many truck insurance providers require that claims be reported within 24 hours or a higher deductible will apply. Having to pay double your deductible can greatly increase the cost of an accident. Save money by contacting us as soon as possible after an accident. We’ll help you deal with your insurance company.

  ·         Don’t Admit Fault– Never admit fault for accident, even if you think you might have caused it. Without understanding the complete picture behind the events, you don’t know whose fault an accident is. It’s possible that another driver was drinking or talking on the phone and is responsible. Don’t admit fault to other drivers or the police.

Do You Understand Your Policy?

  Every truck insurance policy is different, but understanding the details of yours is essential to getting the most out of your insurance, especially in an accident.  What’s your deductible? What are your requirements when reporting claims? If you don’t thoroughly understand your policy, take a few minutes and review it. The last thing you’ll want to deal with after an accident is trying to figure out your insurance coverage, although we’re happy to help if you need assistance.

Helping with claims is one of the many services we offer our customers here at Western Truck Insurance Services. We stay on top of your claim from the moment you report it to us, making sure you know what’s going on with your insurance company every step of the way. We only work with truck insurance providers that we trust and you can be sure that we’ll ask the right questions, get the best information and clearly relay any concerns to your insurance company. When we help you process claims you’ll know what’s happening, who’s handling what and how your needs are being met. Accidents are no fun, but with Western Truck Insurance Services by your side, they are a lot easier to handle.

  If it’s been awhile since you reviewed your coverage, give us a call. We can make sure your coverage is the best fit for your situation and give you a truck insurance quote for great coverage from some of the top truck insurance companies.