Trends in the Commercial Trucking Industry in Victoria
The trucking and transportation industry in Victoria, British Columbia, is being affected by a number of environmental issues. The resulting profit reductions and driver shortages are causing a cascade of effects in the local Victoria economy. Risk management programmes and commercial trucking insurance in Victoria are needed to mitigate threats to transportation businesses.
Fuel Prices
Rising fuel prices are a driving factor in current industry issues. As the increased cost of driving in Victoria forces more truckers out of business, there is fierce competition for qualified drivers. Despite these issues, the local government has not moved to reduce fuel taxes, further exacerbating the increasing cost of doing business.
Weather Issues
Weather is generally mild and agreeable in the Victoria area, which is advantageous for the trucking and transportation industry. However, when natural disasters strike, it can be disastrous. The unexpectedly intense rainfall in British Columbia in November 2021 led to highway closures and blocked supply routes, further crippling the industry. These impacts on the supply chain affect everything from construction projects to the groceries on store shelves.
Manage Risk With Commercial Trucking Insurance in Victoria
Whether you operate and drive your own vehicle or oversee a commercial fleet, the issues facing the trucking and transportation industry in Victoria have complicated the everyday risks and liabilities that you face with your transport business. We can help you to lessen the costs that come with liability coverage and craft a personalised solution to manage risk for your specific company.
Commercial Trucking Insurance in Victoria
By grouping specific auto insurance policies together to meet the needs of the trucking industry, we can provide coverage to mitigate your risk in a variety of situations. Our range of options allow coverage for not only your fleet but also your cargo and other non-trucking liability issues.
Auto and Truck Dealer Insurance
Car and truck dealers must face a long list of threats, including crime, cyber risk, severe weather and the ever-increasing cost of claims, which includes nuclear verdicts. We can help with a personalised risk management strategy that addresses your most critical risks:
- Contingent, garage, and general liability
- Crime and cyber threats
- Employment practices liability
- Open lot and property
- Umbrella
Last Mile Delivery Insurance
Last mile delivery insurance covers the transportation of goods from a central warehouse or hub to the final destination. This sector in the transportation industry has grown significantly over the last decade in Victoria. With expanding business comes the need to protect it along with the contract employees who are so critical to its success. We can provide the technology and expertise to improve the efficiency and safety of your business while complying with evolving regulations.
Owner Operator Trucking Insurance
Owner-operator truck insurance provides solutions for independent truckers in a multitude of situations. The risks for owner-operators are significant, as a single lawsuit or accident could potentially cripple these businesses. We offer competitive pricing for broad coverage insurance, and we will handle the small details to ensure protection over your valuable assets. While the cost and specifics of insurance will be impacted by your location and driving experience and history, you can expect coverage to include the following:
- Cargo coverage
- Medical and liability
- Occupational and passenger accident coverage
- Personal property and physical damage
- Workers' compensation