Reasons Why You Must Get Your Truck Insured Right Now

Here are the top 3 reasons why you need Commercial truck insurance Calgary in 2022 if you work in the trucking industry or drive trucks for a living.

 

1. TRUCKING BUSINESS IS A REAL-DEAL

The Canadian Trucking Association estimates that 72% of all freight in the country is transported by commercial vehicles each year. Furthermore, according to Statistics, the number of trucks that are registered in the nation has climbed by almost 81% during the past ten years. It is your responsibility as the owner of a trucking company to safeguard your fleet, cargo, and drivers because the transportation of freight is so important to the nation’s economy.

According to Keep Truckin, a provider of fleet management software, launching a new truck business with only one vehicle may cost up to $175,000. You’re looking at a hundred thousand dollar investment if you include in the cost of hiring drivers, maintenance fees, expanding your fleet with more trucks, and other costs. If a legal dispute doesn’t completely destroy your firm, it can put a stop to your hopes of becoming America’s largest fleet owner-operator.

 

 

2. COMMERCIAL TRUCK INSURANCE IS REQUIRED BY LAW

Without sufficient insurance, the Federal Motor Carrier Safety Administration (FMCSA) won’t permit your commercial fleet to operate. To each commercial vehicle registered with the FMCSA, a unique Department of Transportation (DOT) number is given. However, they won’t give you your DOT number if you don’t have evidence of insurance, which prevents you from engaging in any commercial operations.

 

3. HEAVY CARGO IS MORE LIKELY TO MEET ACCIDENTS

Trucking has one of the highest national income increases, but it also has a high rate of roadside fatalities. Without enough insurance to protect you from financial losses caused by traffic deaths, cargo damage, and theft, your company may be on the verge of going out of business too soon.

According to the Insurance Institute for Highway Safety (IIHS), heavy trucks colliding with other cars and people on highways, roads, and streets account for 11% of motor vehicle accident fatalities in Canada.

 

Conclusion:

We do recognize the significance of the trucking business to the economy here at Pioneer trucking solutions®. As a result,Commercial truck insurance Calgary is specifically designed to fulfill the safety requirements of truck owners and operators.