Q&A

Turn your safety record into lower insurance rates

An insurance expert shares how small fleets can use safety data to get better terms

(Photo credit: Jeff Klein / Closer to Infinity)

Have a solid safety record? You might be able to use that as a negotiating tool for lower insurance rates or better terms.

With premiums on the rise for commercial motor carriers, every dollar counts, and lower insurance costs could make a big difference. For strategies to secure good rates and overall protect your business, we turned to William J. Lindsay, founder of Tri Pack Insurance Services.

—Interview by Shefali Kapadia, edited by Bianca Prieto

In your work with fleet owners and owner-operators, what are the challenges you most commonly hear related to insurance and liabilities?

The most common pain points are high and rising premiums, especially for new ventures or smaller fleets without years of loss history. Many also struggle with the complexity of coverages, understanding what’s required by law versus what’s optional but critical (like non-trucking liability, bobtail or hired and non-owned coverage). Another major challenge is claims handling and liability disputes after accidents, where legal exposure, nuclear verdicts and fraudulent claims can quickly overwhelm a trucking business.

With cargo theft incidents rising, what coverage strategies do you recommend to mitigate those risks?

First, make sure cargo is covered with a reputable insurance carrier under a motor truck cargo policy that specifies theft as a covered peril, with limits that reflect the true value of the loads. Add rider endorsements for high-value commodities if they’re hauled. Beyond insurance, I advise fleets to adopt risk-control strategies: use secured parking, invest in GPS and telematics and establish driver protocols for stops and handoffs. Insurance companies look favorably on fleets that take proactive theft-prevention measures, which can also improve coverage availability and terms.

Can small fleets leverage a solid safety record to negotiate lower insurance rates or better terms, and how so?

Absolutely. Underwriters are data-driven. If a small fleet can demonstrate a clean loss history, strong CSA scores, and consistent safety practices (driver training, dash cams, telematics, ELD compliance), it becomes a powerful negotiating tool. Presenting a safety manual, driver vetting policies and evidence of technology adoption (like forward-facing cameras or telematics data) can often translate into preferred pricing or access to specialty programs that might otherwise be restricted to larger fleets.

What's your No. 1 piece of advice for small business trucking owners to protect their businesses?

Don’t look at insurance as just a compliance box to check; treat it as a risk management partnership. My top advice is to work with a broker who specializes in trucking, who can align coverage with your specific operations and advocate for you at renewal. Gaps in coverage like insufficient cargo limits, improperly scheduled vehicles or not carrying contingent liability for leased drivers can be devastating. A proactive broker helps you not only secure the right policies but also position your fleet as a better risk in the insurance marketplace, which pays off in both protection and cost savings. The better picture a broker can provide of your risk, the better terms they are able to obtain.