6.Insurance Cost Is Expected To Go Down
In the last 10 years total trucking company insurance cost have hit the sky. Truckers report allows us to see the that the amount of money requested by insurance companies is crazy .
Trucking companies have a lot of problems dealing with this newly developed situation. In comparison when we see truckers report that are 20 years old, we can see that in the last decade the insurance costs have increased drastically.
Source:www.justinziegler.net
Trucking companies are paying these insurance costs yearly. Can you imagine how every year these companies are being hit by higher and higher prices? Therefore trucking companies don’t have any way out except to pay those insurance bills. But there is always light at the end of the tunnel. In that direction it is expected that that the market will be hit by a lot of competition and that prices will go down up to 30%.
The lowering of truck insurance costs can make a huge impact when it comes to the surviving of trucking companies. That amount of saving will make companies survive because at this moment paying $15.000 for the annual truck insurance is crazy and only very few companies can comfortably pay those ridiculous bills.
