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HOW TO INSURE TRUCKING & TRANSPORTATION“I Need Insurance for My Truck.”That May Be the Beginning of the Most Important Conversation You Have With This Prospect.A truck pulls freight.
But what freight? For whom? Where? How far? Under whose authority? Who owns the truck? Who owns the trailer? Who owns the cargo? Who is driving? What does the driver haul tomorrow that he isn't hauling today? Is this one owner-operator—or the beginning of a growing fleet? Those aren't minor details. They are the risk. Welcome to trucking insurance. THE PROBLEM WITH “I HAVE A TRUCK”Two trucks can look almost identical sitting next to each other in a parking lot. Their insurance exposures can be completely different. One may haul dry goods within 100 miles of home. Another may cross the country carrying refrigerated cargo. One may operate under its own authority. Another may be leased to a motor carrier. One may haul machinery. Another may haul automobiles. Another may carry building materials. Another may transport loads that create entirely different underwriting concerns. And then there are the drivers. The radius. The loss history. The equipment. The contracts. The filings. The cargo. The operation itself. You cannot properly understand a trucking account by asking only about the truck. You have to understand the business that puts the truck on the road. WHAT THIS MANUAL WILL HELP YOU DOAfter working through this guide, a producer should be better prepared to: ✓ Conduct a professional trucking discovery conversation ✓ Understand what the trucking operation actually does ✓ Ask better questions about commodities and cargo ✓ Investigate operating radius and territory ✓ Understand why authority and operating structure matter ✓ Identify driver-related underwriting concerns ✓ Explore tractor, trailer and equipment exposures ✓ Recognize Motor Truck Cargo considerations ✓ Understand physical damage exposures ✓ Identify non-trucking and related liability issues when applicable ✓ Recognize Workers' Compensation and occupational accident considerations ✓ Understand why federal and state filings may matter ✓ Prepare more complete trucking submissions ✓ Communicate more effectively with trucking underwriters ✓ Compare proposals beyond premium alone ✓ Conduct stronger renewal conversations ✓ Prospect for trucking accounts more intelligently WHO SHOULD HAVE THIS MANUAL?How to Insure Trucking & Transportation was created for: • New commercial-lines producers • Producers who occasionally encounter trucking risks • Personal-lines producers moving into commercial insurance • Experienced agents who want to develop a trucking niche • Agency owners training producers • CSRs and account managers working with transportation accounts • Independent agents who want to better understand one of commercial insurance's most specialized classes You don't need to become a transportation underwriter. But before you submit the account, you should understand enough to know: What is moving? Who is moving it? Where is it going? Whose property is at risk? And what could go wrong along the way? WHAT'S INSIDE?Learn the Operation Before You Quote the TruckThe manual walks producers through practical trucking exposures and the discovery process needed to understand them. Trucking DiscoveryLearn how to move beyond year, make, model and VIN. The vehicle is only part of the account. The operation determines the exposure. Operating Authority & Business StructureWho is the motor carrier? Does the insured operate under its own authority? Is the truck leased to another carrier? Understanding who is responsible for the operation can be critical. Commodities & Cargo“What do you haul?” It may be one of the most important questions in the entire submission. Learn why commodities deserve specific investigation rather than a vague answer such as “general freight.” Radius & TerritoryLocal. Intermediate. Long haul. Where the truck operates—and how far it travels—can materially affect underwriting. DriversWho is behind the wheel? Experience, driving history, age, qualifications and turnover can all affect the account. A good producer learns about the drivers before the underwriter has to ask. Auto LiabilityUnderstand the central liability exposure created when large commercial vehicles operate on public roads. Physical DamageThe tractor and trailer may represent a substantial investment. Learn to investigate values, ownership, deductibles and other physical-damage considerations. Motor Truck CargoThe insured may be responsible for property belonging to someone else. Learn why what is being hauled and how much it is worth deserve careful attention. Trailers & EquipmentOwned trailers. Leased trailers. Non-owned trailers. Specialized equipment. A producer needs to understand what travels with the operation and who owns it. Workers' Compensation & Occupational ExposuresDriving isn't the only exposure. Loading, unloading, securing cargo, climbing, lifting and working around equipment can create additional injury exposures. Filings & Regulatory RequirementsTransportation accounts may involve federal or state regulatory requirements and insurance filings. The producer needs to recognize when those requirements exist and coordinate carefully with the insurer and other appropriate parties. The Underwriter SubmissionTrucking underwriters need information. A producer who provides a clear, organized picture of the operation can be far more valuable than one who simply forwards an incomplete application and asks: “Can you quote this?” Proposal ComparisonTwo trucking proposals with similar premiums may not provide the same protection. Learn to examine limits, deductibles, covered autos, cargo provisions, physical damage, endorsements, exclusions and other important differences. RenewalsTrucking operations can change quickly. New drivers. Different commodities. New equipment. Different routes. Expanded radius. Additional trucks. Changed contracts. A strong renewal process rediscovers the operation rather than assuming last year's information is still accurate. REAL-WORLD PRODUCER THINKINGTrucking accounts are full of statements that should trigger another question. The prospect says: “Mostly general freight.” Ask another question. “We occasionally go out of state.” Ask another question. “My brother drives sometimes.” Ask another question. “We just bought another truck.” Ask another question. “Sometimes we haul cars.” Definitely ask another question. Throughout the manual, practical situations help producers develop the habit of: HEAR IT What did the trucking prospect actually tell you? ASK ABOUT IT What additional information does that statement create? VERIFY IT What needs to be confirmed? DOCUMENT IT What belongs in the agency file? TAKE THE NEXT SAFE ACTION What should the producer do next without exceeding his or her authority? In trucking, one seemingly small detail can change the entire account. DON'T WAIT FOR TRUCKERS TO FIND YOULook around. Every day, trucks pass your office. Dump trucks. Box trucks. Flatbeds. Tractor-trailers. Car haulers. Refrigerated trucks. Local delivery vehicles. Construction-related trucks. Owner-operators. Small fleets. Transportation businesses are operating throughout your market. Once you understand trucking discovery and become familiar with available markets, you can stop treating trucking as an occasional difficult quote. You can deliberately develop it as a niche. YOUR 30-DAY TRUCKING PROSPECTING PLANStart by identifying transportation businesses in your market. Build a prospect list. Research the operation. Look at its website. Look at the equipment. Understand what the company appears to haul. When appropriate, review publicly available motor-carrier information. Then begin conversations. Don't start with: “Can I quote your trucking insurance?” Start by learning about the business. What do you haul? Where do you run? How many trucks? How many drivers? Are you growing? What problems have you had finding insurance? Learn something from every conversation. Build relationships with trucking underwriters, MGAs and wholesalers. Understand which markets want which types of risks. Follow up. Ask for introductions. Develop expertise. Don't become another agent looking for a trucking quote.Become an agent who understands trucking accounts. WHAT COULD ONE TRUCKING CLIENT BE WORTH?Think beyond one truck and one policy. A transportation relationship could potentially involve: • Commercial Auto Liability • Physical Damage • Motor Truck Cargo • Trailer-related coverages • General Liability • Workers' Compensation • Occupational Accident coverage where appropriate • Umbrella or Excess Liability • Property or business-related coverages • Other specialized transportation protection And then the business grows. One truck becomes two. Two become five. Drivers are added. Equipment is purchased. Operations expand. A small trucking account today could become a substantially larger commercial relationship tomorrow. THE ENTIRE MANUAL IS ONLY $25Buy It Once. Use It From Now On.No monthly subscription. No expensive seminar. No travel. No generic trucking webinar that disappears when it's over. Just practical producer development you can return to whenever a transportation prospect calls. HOW TO INSURE TRUCKING & TRANSPORTATIONDigital Producer Guide $25 — One-Time Purchase Immediate Access GET HOW TO INSURE TRUCKING & TRANSPORTATION → COULD ONE ACCOUNT PAY FOR THE MANUAL?Consider the economics. You're investing $25 to become better prepared for the next trucking prospect who contacts your agency. One account could pay for the manual. One additional vehicle could pay for it. One exposure you remember to investigate could pay for it. One cleaner submission that gets an underwriter's attention could pay for it. One trucking client who refers another trucking client could pay for it many times over. $25.One-Time Purchase.A Resource You Can Keep Using. GET THE TRUCKING GUIDE → BUILD YOUR COMMERCIAL LINES LIBRARYTrucking & Transportation is only one opportunity. The FYI Express How to Insure Commercial Lines Library gives independent agents and producers practical guidance for understanding and pursuing real-world commercial accounts. Continue building your expertise with: How to Insure Contractors How to Insure Restaurants How to Insure Churches & Religious Organizations How to Insure Small Manufacturers How to Insure Auto Repair Shops How to Insure Retail Stores How to Insure Habitational Properties How to Insure Professional Offices How to Insure Wholesalers & Distributors Don't Try to Know Everything.Learn Where to Look — and What to Ask.FYI EXPRESS Practical Training. Better Producers. Stronger Agencies. |
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