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A Comprehensive Review on Revolutionizing Trucking Insurance in the US: Machine Learning’s Predictive Edge and Cybersecurity Shield

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Types of Trucking Insurance

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Trucking Insurance

THE ANSWER TO YOUR TRUCKING INSURANCE NEEDS

Commercial Trucking is a growing business that has seen only marginal innovation in terms of insurance

Insurance premiums for trucking companies have seen a huge spike in the last few years, totaling around $12,000 to $14,000 today, making it one of the Top Four expenses for the owner-operators and small fleets. Insurance premiums continue to increase at 5% CAGR.
In the U.S., trucking accounts for 300 billion miles annually & 65% of total goods movement
According to the U.S. Department of Transportation, as of February 2021, the number of for-hire carriers on file with the Federal Motor Carrier Safety Administration totaled 996,894, private carriers totaled 813,440 and other interstate motor carriers totaled 83,235.
91.5% operate 6 or fewer trucks. 97.4% operate fewer than 20 trucks.
The U.S. truck freight market is estimated to be $800 billion