Client success stories featured on recent episode of WHAT THE TRUCK?!?
Within the last month alone of this current high-demand climate, 11,000 new trucking companies entered the market. But as industry veterans know, the margins for trucking companies are razor thin and the industry is accustomed to boom-and-bust cycles. One notorious expense that challenges the bottom line of new and smaller fleets is the surging cost of trucking insurance.
On a recent episode of WHAT THE TRUCK?!?, Lauren Meyer, director of client success at CarrierHQ, shared how her growing trucking insurtech company’s commercial trucking insurance is flexible and affordable for companies with one to 20 trucks. CarrierHQ partnered with insurance giant Aon to co-develop Small Fleet Advantage, the trucking industry’s first small fleet, safe driving adjustable-rate insurance program.
“Our exclusive online portal provides one convenient place to get their insurance with low or no money down options and no loss runs needed,” said Meyer. “There are no restrictions regarding the age of fleets, which is a big hurdle new carriers have to deal with. Fleets receive an online quote just minutes after providing basic information such as DOT number, VINs and CDLs. We are the only ones with monthly in-term rate adjustments based on driving data from each truck’s ELD. Fleet owners can now directly control their rates, and with safe driving their rates could decrease up to 30% each month. It’s also really easy to add or remove units during the policy term.”
CarrierHQ’s customers have gained a lot of value from Small Fleet Advantage, Meyer said, and often refer family and friends.
“After one Tennessee-based carrier saw her two-truck fleet’s insurance costs surge, she signed on with CarrierHQ. The online experience was easy and she liked the idea of getting a quick competitive quote and binding through an online portal versus a lot of calls, emails, faxes and manual paperwork with a traditional broker. The owner remotely monitors her trucks’ ELD data by simply looking at her phone to enforce safe driving, which has resulted in lower monthly premiums and a lower cost of running her business,” Meyer said.
“We have another carrier out of California, where three different family members have their own authorities: two brothers and their nephew,” she continued. “It’s a family business for them and family members that aren’t on the road driving help run their office. It’s exciting to see the number of referrals that come through on a weekly basis because we know carriers wouldn’t be referring their family and friends if they didn’t love the program.”
To learn more about CarrierHQ’s offerings, go to www.carrierhq.com or call 866-971-5464 and speak with someone on Meyer’s client success team. Getting a no-commit quote through the portal is quick and easy.