In the logistics and transportation industry, carriers and shippers rely on each other to transport goods and products from one place to another. Transporters play a crucial role in providing the necessary equipment and drivers for transportation. To ensure efficient transportation of goods, shippers and carriers must agree on the pricing terms, such as contract or spot rates.
With the number of workplace accidents still occurring despite our best efforts, it is essential for companies to secure the right insurance coverages. Workers’ Compensation and Occupational Accident insurance are two of the most common coverages. While they may seem similar, there are key differences between the two that every business owner should be aware of in order to stay compliant with the law and keep employees properly protected.
Renewing your commercial trucking insurance policy can be a very daunting experience. The biggest shock comes when a company sees that its insurance premium/rate has increased from the prior year. If you happen to have filed a claim (or multiple) it could lead to your renewal cost increase. It is important to note that claims are just one of the many factors that go into determining an insurance renewal quote.
A big part of running a trucking company revolves around fueling the trucks. Companies that run an interstate operation must abide by the International Fuel Tax Agreement (IFTA). Most carriers find IFTA reporting a complex hassle, while others are unaware of IFTA as a whole.
Avoid letting your business slow with the season by utilizing this time wisely. Use this extra time by making smart choices when it comes to the loads, organizing your bookkeeping and files, and keeping your trucks/trailers well-maintained.