Facts About Federal Motor Carrier Insurance Companies and Trucking Insurance

Facts About Federal Motor Carrier Insurance Companies and Trucking Insurance

Commercial

Federal motor carrier insurance companies understand that the availability of financially strong trucking insurance policies are integral to the commercial transportation industry. Big rig trucking constitutes a large part of what makes America continue to thrive as the sole superpower on the planet. Incredible amounts of cargo are constantly in route to locations everywhere, and that means that hundreds of thousands of semi trucks are in constant circulation along America’s highways. And that means the potential for, and likelihood of, thousands of interstate trucking accidents every single day.It’s not difficult to understand that the FMCSA requires every commercial truck on the roads to carry predetermined levels of public liability trucking insurance. The fact is that, according to the IIHS, the prevalence of serious trucking accidents continues to increase, even since the initiation of new driving safety regulations in 2004. Those requirements dictated that all truckers had to lengthen their mandatory rest periods by a minimum of 2 hours. In return for resting up, commercial trucking professionals are allowed to drive an extra hour each day. As a result permitted driving hours, per seven-day period, were increased from 60 to 77, a more than 25% increase. The unintended result is that accident rates are still sky high – and driver’s fatigue is as prevalent as ever.Of course, this causes federal motor carrier insurance companies to raise their premium rates for quality commercial trucking insurance. Especially when you consider other statistical facts including:

Approximately 80% of commercial truck drivers report taking advantage of the increased available driving hours;
Even though drivers are getting more sleep now, they report increased incidences of driver’s fatigue;
Driver’s log books are still as easy to falsify as ever;
Some major motor carriers have implemented electronic driving monitors that track individual road miles and hours. Others have not. The bottom line is that all commercial trucking professionals need to realize that there’s loads of danger, and therefore responsibility, involved with truck driving careers. And you can be sure that the FMCSA will continue to crack down on all elements of commercial transportation that are shown to increase the probability of accidents.Finding affordable trucking insurance continues to be one of the foundational prerequisites for launching a commercial freight hauling business. Online trucker’s insurance quote providers can save you loads of money while providing you with the most effective big rig coverage available anywhere. Benefit from the technologies, knowledge and experiences of an online trucking coverage provider soon!