Teens behind the wheel of a big rig. Good, bad or necessary?
Insiders, every once in a while as I'm scrolling on social media I'll see a video of a truck driver in a residential neighborhood, turning down a tight street. There's not enough clearance and the trailer starts to drag parked vehicles, light poles, trash cans — you name it — as the driver struggles to maneuver the customer's now damaged trailer.
What if the trucking company has insurance on their truck, but failed to insure the trailer? Who pays? Today's feature article digs into that topic. It's worth your time to read it so you're not left financially exposed.
Inside today's newsletter:
⛈️ FHWA allocates $830m for climate change resilience
👨⚖️ Trucking sector appeals AB5 ruling
💰 Tougher freight market in February - but better conditions ahead
🚢 FBI probes Baltimore bridge collapse shipowner
🧘♂️ Comfort-enhancing kit for truckers
All this and more in today's edition of The Inside Lane.
Are you covered for hauling non-owned trailers?
Truckers who regularly haul trailers they don’t own are risking large damage claims, even if the customer say insurance isn’t needed. Those cost can be disastrous for small carriers, so how can you protect yourself?
What are the risks? Regardless of what you’re told by the customer, drivers can still be held liable for physical damage if the trailer is in their care, custody and control. It's rolling the dice with your finances.
Make sure you're covered. Speak to a specialist insurance company, and don’t take the customer’s word for it. If you’re providing power-only services, adding cover for moving non-owned assets is also better than the alternative.
Read more on Overdrive Online.
🙂 GOOD DAY:
The Federal Highway Administration has allocated $830m funding to make the country’s transport infrastructure more resilient to extreme weather. Funding is split over 80 projects including strengthening bridges, better drainage and improved evacuation routes. Is your route part of the improvement plan?
🙁 BAD DAY:
Light-duty vehicle operating costs increased significantly during the first quarter of the year — and pickup trucks were the hardest hit. Analysis by Vincentric, based on eight contributing factors, shows a 7.8% rise in per-mile costs for pickups compared to 1.5% for passenger cars.
Trucking associations appeal worker classification ruling
Two trucking associations are appealing a March 15 court ruling which upheld California’s controversial AB5 worker classification law. It’s the latest development in a five-year legal dispute, with claimants arguing that the rules impact interstate trucking. AB5 can lead to some independent truckers being classed as employees.
Analysts predict healthier freight market from Q3 2024
Truckers faced a toughening market in February but a steady recovery is likely in the second half of the year, according to freight consultancy FTR. The latest Trucking Conditions Index (TCI) score — an assessment of industry health based on five factors — fell from -1.41 to -5.31 due to surging diesel prices. Growing demand from the industrial sector is promising, but sub-zero scores are forecast for the rest of the year due to utilization rates.
Summer fuel surge risks higher pump prices
The United States will need to access emergency oil reserves this summer to keep fuel prices in check, analysts have warned. Gas prices have already increased by 17% this year, exacerbated by Middle East conflict, reduced OPEC production and declining imports from Mexico. Summer vacation traffic is expected to be at its highest level since the pandemic, causing a further spike in demand.
- ESTES EXPANDS: 20 ex-Yellow Corp sites set to open this year
- BALTIMORE BRIDGE: FBI probes lead-up to fatal collapse
- CREATURE COMFORTS: New in-cab tech for truckers
- SCALING UP: Volvo Trucks adds flexibility with Mexico plant
Quote of the Day:
“Extreme weather driven by climate change is one of the
biggest threats to our infrastructure, to quality of life and safety in our communities. And it’s not an exaggeration to say
that extreme weather related to climate change is
one of the biggest risks to our supply chains.”
- Pete Buttigieg, Transportation Secretary
🚛 Enjoying this Newsletter? Tell it to a friend.
💭 Have a story idea? Submit an idea to us.
📷 Want to share a photo from the road? We’d love to see it.
Be safe out there -
Comments ()