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
Tag: insurance
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
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
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
Cargo Insurance: Protect your cargo for just $34 a load with an “easy button”
Enjoy a seamless claims process and avoid the cargo claims hassle for just $24 per load.
Sidestepping the Hidden Costs of Insurance Claims
Cargo insurance claims are, unfortunately, a normal part of business. No matter how efficient an operation you’re running, human error, accidents, even theft mean risks and claims can never be fully eliminated. Many insurance policies leave brokers wondering how much will be paid out in the event of a claim, and how much it will
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
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