When it comes to insurance coverage, I am asked the same questions all the time: How much is too much? How much is not enough? How much does it cost? Who can insure me? Who won’t insure me? These are all valid questions, no doubt. They are all very important when deciding what you need and who can get it for you. But what about the other questions you should be asking? Questions like: Am I hiring the right drivers? Should I consider owner operators? Do I have the right compliance in place? All of the above questions are important, but unfortunately I hear the first set of questions first, when I think the second set is more important. If you ask the second set first and work on those answers, the answers to the first set of questions almost answer themselves. Confused? It may sound confusing but it really is pretty straightforward.
Insurers like nothing more than to have the opportunity to consider insuring what we can a “well run risk”, or a WRR, if you will. A good WRR shows us foundation. The will show us foresight and vision. They will show us attention to safety, contribution to industry and overall involvement in trucking. A WRR invests in good equipment, people and strategies. They do all of these things and are proud to present themselves to insurers, regulatory bodies and colleagues alike. A WRR will never dread an audit, whether it is from their insurer or the MTO or the DOT. A WRR will display their CSA scores proudly and not complain about the system being unfair. A WRR works closely with their trusted advisors and expect the same high level of competency and care that they have in running their own operations. A WRR carefully chooses these partners and come to enjoy the benefits of being aligned with others who work on their level to achieve their successes.
So, do you have enough coverage? Do you have the right coverage? Are you able to secure these coverages at a fair rate? Do you have a respected and trustworthy insurer partner, broker or company? Do you do everything you can to make sure you are doing your very best and upholding not only industry standards, but your own? I would venture to say if you are a WRR; the answer to all of your questions is YES!
We live in a day and age of quick, fast, instant gratification. The internet tells us what we want know when we want to know it. Cell phones put us in instant contact three different ways (call, text, email). I believe some things are worth working for and take time, and that’s what a WRR understands. They work hard and patiently to be the best they can be and I applaud them. I am also grateful to say I have met many many WRR’s and look forward to their next generation!
About the Author
Lisa Arseneau is a Transportation Insurance Broker and Trusted Advisor for TRIP Insurance Brokers o/b Pearson Dunn Insurance Brokers. For more information visit their website at www.pearsondunn.com and click on Transportation.