The end of another year approaches and I find myself taking stock and reflecting on accomplishments, failures and other goings on. I like to look back at my goals that I set in January and see if I met them, didn’t meet them, exceeded them or if they are still a work in progress. This isn’t always an easy exercise. Especially if the “didn’t meet them” column is longer than the “met them” column. Thankfully, this year that isn’t the case. Actually, the “work in progress” column is the more vastly populated one this year. This is not necessarily a good or bad thing. I look at it like this: are they still a work in progress because they are goals that require long term commitment, or because I didn’t work at them. For the most part, I’m happy to say, it is because they are long term goals. For example, learning is one of my long term goals, as I feel that learning should be on going and should never be “finished”. To that end, I continue to attend seminars, conferences and Learning lunches to further my education in the transportation field. As I wrote last time though, picking the right ones is the key. They should be cost effective, salient in terms of content and provide the opportunity to bring back information to your customers, colleagues and prospective clients.
Not only do I feel it is important for me to learn, but it is important to educate as well. I found that over this past year I have been meeting with people who are delving into our industry in a new capacity. Mostly company drivers who are taking the leap in becoming Owner Operators on their own, with their own authorities and own companies. This year I found myself talking about being coverage conscious, when it comes to trucking insurance. I always get excited when speaking with these new O/O’s. I am excited for them and want to do everything I can to guide them in the right directions when it comes to insurance, regulations, authorities, etc. We talk a lot about what coverage’s they really need, as opposed to what they always thought they needed, such as proper limits on liability and cargo coverage. We talk about what to look out for when accepting loads and what they should obtain from companies asking them to haul their goods for them. We talk about US travel and what happens in the event of an accident. I am constantly dispelling the myth that if you are hit in the US and it is clearly not your fault, your deductible does not apply – Huge mistake. Deductibles are always applied in an accident occurring in the US, and stays on until your insurer gets clear indication that the third party insurer is accepting liability. There is an excellent product that will protect an O/O from this and comes in the form of a policy named Deductible Buydown and Downtime and is only offered by a select few insurers. It is certainly a coverage I recommend to all of my clients and in particular my O/O’s.
Education – the difference between knowing and not knowing. Get as much as you can and share it with as many as you can.
Here’s hoping your year was good and your next will be even better!
About the Author
Lisa Arseneau is transportation insurance broker with over 25 years of experience in the trucking industry. She is the Vice President of T.R.I.P Division of the Pearson Dunn Insurance. She is a member of the Ontario Trucking Association, The Toronto and Hamilton Transportation Clubs and is and is passionate advocate for her clients.
Lisa can be reached by email at larseneau@pearsondunn.com
