Navigating Rising Trucking Costs
Published September 2024

As known too well, there has been nowhere to hide from the rising costs of everything from maintenance to insurance. Rate premiums have not found a bottom for some time; according to American Transportation Research Institute, truck insurance premium costs per mile rose 6.8% in the first quarter of this year compared with 2023 and is one of the fastest-rising expenses in trucking.

In this special report, we ask trucking companies what they are doing to manage their insurance costs and present alternative solutions from self-insurance to technology. Discover, too, what providers recommend to better prepare for commercial truck insurance needs.

In the midst of looming regulations like Advanced Clean Fleets that will mandate fleets to implement zero-emission vehicles, fleet owners who have traditionally worried about operational bottom lines are now feeling the pressures and confusion that come with making the transition and may think that simply purchasing zero-emission vehicles for their fleets is progress enough to meet the mandate requirements.

How can you prepare your fleet for the electric future? What unique steps will you take to stay ahead of the competition? And most importantly, are you prepared beyond the initial EV procurement? 

Artificial intelligence is everywhere. It’s in the news: It’s going to ruin business as we know it, or at least take over humans. As with all things new, it has also become the trendy buzzword, as some companies that merely mention the letters AI garner favor from general media and consumers.

However, aside from memes, there have been some innovations that have proved useful, especially for the trucking industry.

While electric-powered trucks represent only a tiny sliver of the  commercial vehicles on the road today, environmental regulations could push the industry to accelerate the shift toward zero-emission trucks in the years ahead.

Is the infrastructure ready for that kind of push? How are fleet executives making their transition?

See how the industry is Clearing The Way For Electric Trucks.

As Mike Tyson once proclaimed, we all have a plan until we get punched in the face. The boxer could have been speaking about the litigation battles many fleets around the country are facing when it comes to fending off the threat of nuclear verdicts. But by utilizing technology, documenting and sharing safety efforts, fleets can minimize the risk.

While many of the benefits are proving out, there are several significant barriers to widespread EV adoption, including high acquisition costs, complex infrastructure requirements and basic financial questions such as the resale value of a first-generation electric tractor. 

So, fleet's are left asking "Can we go electric?"

Insurance is yet another unavoidable cost of doing business as a motor carrier, and that particular cost has been climbing sharply in recent years, a trend that is forcing fleet managers to take a closer look at how they are managing risk. This Transport Topics special report is our latest effort to help you do exactly that.