How the Coronavirus Impacts the Transportation Industry

June 23, 2020 News

Tips to Help Evaluate Your Commercial Fleet Insurance Quote

To say that the year 2020 has been unprecedented is an understatement. Who would have thought that a virus could slow the entire world down to a crawl in a matter of weeks? One industry that felt the effects in a different way was the trucking industry. The men and women kept busy transporting goods across the country and cities, working night and day to ensure others were able to obtain necessary supplies. As the pandemic slows its pace, it begs the question, what next?

The brokers at The Business Insurance Center applaud you and your team for all the long hours of dedication to your fellow Americans. We are here to aid you in ensuring you can keep serving even after an accident or other claim. Contact us for a commercial fleet insurance quote and get great rates for your budget.

Changes in the Commercial Transportation Industry Since COVID-19

As the world keeps turning, so do the changes brought on by the Coronavirus. Every industry has been hit, including the transportation industry. Here are a few significant changes:

  1. Demand slowed, for now. According to observations in the Forbes article “COVID-19 Poses Uneven Challenges for Commercial Truckers”, the demand for hauling slowed down in March. However, a slight resurgence started occurring in April as states started easing restrictions, as reported in the article “COVID-19 Impact: U.S. Fleet Miles Drop 17%, Recovering Fast.”
  2. Recovery seems to be industry related. Depending on your industry, you may start seeing an increase in demand. For example, landscape and gardening companies are picking up pace. Some of this is probably due to the time of year. Yet, the communications industry has not seen a significant increase as they have been consistently helping companies get their employees working from home.
  3. The FMCSA made a final ruling on the hours of service regulations. This finalization has been two years in the making. There are several expansions including short-haul exception and adverse driving conditions, among others. (While the FMCSA issued an emergency declaration in March, it’s vital to know the new changes that will affect your fleet as the pandemic subsides.)
  4. It is yet to be seen if insurance claims will change. During better times, distracted driving and traffic congestion lead to many accidents. Now, the industry is concerned that driver fatigue may take over and cause incidents.

Protect Your Fleet with the Right Commercial Auto Insurance

Ensure you have the right coverage in place as the country starts opening up. Talk with the knowledgeable brokers at Business Insurance Center today. We can look over your existing coverage and find any gaps. Then we will offer a comprehensive plan to keep your business protected and. Our options include liability, collision, uninsured motorist, and expanded towing among others. Get the protection you need so you can continue to serve your customers effectively. Contact us today!

Request a quote online or call and speak with a knowledgeable and experienced broker at The Business Insurance Center about obtaining a commercial fleet insurance quote. We have a 24/7 call center to serve you and an online Live Chat operator. 

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