🛡️ Fleet Owners: Tame Rising Insurance Premiums

🛡️ Fleet Owners: Tame Rising Insurance Premiums

It feels like the cost of everything continues to rise - and unfortunately, the next thing on the list is insurance premiums. In today's feature article, we dig into what fleets can do to get a handle on it and curb those costs.

We also have a great state-by-state GPS tracking laws guide so you can be sure your fleet is in compliance no matter where the road takes you. Be sure to read it in the Inside Industry News section.

Buckle up and let's get to it!


Inside today's newsletter
🚚 Florida takes on tow sharks
🔒 Cyberattacks are targeting trucks
💸 Parts and labor costs: a slight uptick in 2023
🏛️ DOL's worker rules face a congressional showdown
🚀 Plus, updates on truck parking and tech innovations

Insurance premiums may surge by 20% this year

From fuel to workshop time, fleets have come to expect rising costs, and now insurance is adding to that list. Brokers are warning that premiums could rise by between 5% and 20% this year - and fleets want to know how to keep those costs down.

Why are premiums rising? Insurers are struggling with a cocktail of challenges at the moment, including the increased frequency of ‘nuclear verdicts’, cyberattacks and growth plans stymied by a glut of bankruptcies and layoffs last year.

What does this mean for fleets? FMCSA safety scores are the dividing line when it comes to premiums, and any increases should bring those into sharp focus. Identifying opportunities to improve could be a worthwhile investment.

Read more in Logistics Management.


Florida state legislators have unanimously backed reforms designed to crack down on predatory truck towing. House Bill 179 requires towing companies to issue a rate sheet before they attach themselves to a vehicle, and makes any additional charges unreasonable. If signed in by Gov. Ron DeSantis, changes will become law on July 1.

Overdrive Online


Cyberattacks on telematics systems increased dramatically during 2023, accounting for 43% of mobility-related incidents last year according to analysts at Upstream Security. Operators are being warned to be wary of vulnerabilities in fleet management systems that could give criminals remote access to sensitive data.

Global Fleet

Parts and labor costs saw marginal rise in 2023

The cost of parts and labor increased marginally during 2023, despite falling during the fourth quarter, analysis from the American Trucking Associations has revealed.

Workshops have faced challenges with disrupted supply chains and a growing shortage of technicians in recent years. Parts availability improved last year, which the ATA says could reflect shrinking tonnage and reduced mileage, leading to a 2.2% drop in prices. However, this was offset by a 4.0% rise in labor costs compared to 2022.

- Trucking Info

🚺 Freight sector aims to attract more women drivers

GPS tracking laws vary by state, with some lacking regulation completely. Federally, companies can legally track their own vehicles. Knowing the laws is paramount.

Fleet owners and operators must navigate the intricate web of state-specific GPS tracking laws to ensure full compliance and avoid the pitfalls of legal infractions. The consequences of non-compliance can be severe, including substantial fines and legal actions that could impact both your bottom line and your company's reputation. Read this state-by-state breakdown to stay in compliance.

Expert Market

Lawmakers challenge new DOL worker classification rules

The U.S. Department of Labor’s new rules classifying independent and employed workers are coming under fire in the House and Senate.

Two Republican lawmakers have introduced a Congressional Review Act that could overturn the final rule, currently set to come into force next week. Trucking associations, including OOIDA, had criticized the DOL for not recognizing the unique requirements of owner-operators.

Trucking Dive

Quote of the Day:

“This is a huge victory for trucking in Florida, the trucking industry nationally, who have seen invoices as high as $200,000, and the motoring public, who fall victim to predatory towing companies.”

Alix Miller, President and CEO, Florida Trucking Association

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Be safe out there -