Innsurance is one of those things you may not really think about until your business needs it. That is, unless you're facing skyrocketing premiums or, worse, shrinking access to coverage itself, which is what's happening to truck fleets. Negative trends impacting the insurance market's view of trucking are forcing more fleet managers to think a lot more about insurance. Fleets are facing what commercial-insurance broker Hub International defines as a "hardened insurance market," in which premiums have not only gone up, but in many cases have doubled. "With increases between 10% and 15% for the third year in a row, policies are no longer just 3% to 4% of a fleet's annual revenue — they can be north of 75%."
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