insurance Archives

08/10/2021

8 Biggest (and Necessary) Owner-Operator Expenses

Owner-operators can make good money, averaging more than $221,000 per year. But that’s calculated before the essential owner-operator expenses that are a necessary part of running a successful business. Truck driver expenses fall into several different categories, and managing them is vital to your success. Here’s what you need to know to accurately calculate your

07/22/2021

Broker researching carrier insurance monitoring

A Freight Broker’s Guide to Carrier Insurance Monitoring

As a freight broker, you are the go-between for shippers and carriers. You might already know that it’s important to require proof of insurance during the carrier selection process. But did you know that even if you have a carrier’s certificate of insurance on file, you might be still be held legally responsible if something

03/31/2021

Compliance made effortless for freight brokers, shippers, and 3PLs

It is crucial to operate your business using properly insured carriers who are compliant with your business rules. Trying to track down insurance information from carriers or insurance agents can take you hours or days, which can prevent you from doing business. Outsourcing your compliance management to RMIS will help you reduce risk and enhance your business’s

12/22/2020

What Owner Operators Need to Know About Commercial Truck Insurance

Commercial truck insurance is one of the first things you need to think about as an owner-operator. Not only is insurance a requirement, but it will help protect you and your business if something goes wrong. It’s also an important step in applying for your own trucking authority. One of the first things you should

05/17/2017

Broker Best Practices in Limiting Risk: Errors & Omissions Insurance

When you think about the many threats to your brokerage, competition, market fluctuation, employee turnover, and several others may come to mind. However, one of the largest threats to the success of your business is financial loss because of insufficient insurance coverage. While there’s no way to completely avoid risk, there are ways to minimize

03/20/2017

Beware the High Deductible Motor Carrier Cargo Policy

Look twice; that cargo deductible could be higher than you thought. One step to include when vetting a potential carrier partner is to verify the deductible amount on their cargo policy. We’re seeing an increased use of cargo policies which carry a significantly higher deductible than the standard $1,000 per occurrence. A deductible of $5,000

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