Is Your Trucking Company Fully Prepared for Spring 2022?
The last two years have been a wild ride for everyone. With sporadic shutdowns, unpredictable weather, and political turmoil, it’s been a stressful two years no matter where you live in Canada or what you do for a living.
We’re all looking forward to coming out of the pandemic and enjoying the lovely spring weather. Now is the time to ensure that your trucking company is fully prepared for spring 2022!
Here are our top tips for making sure your trucking company is fully prepared for this spring:
- Be aware of the trends impacting the trucking industry.
- Keep on top of potential issues with vaccination requirements.
- Think about ways to grow your client base.
Another way to make sure you’re ready for spring 2022 is to be up to date on your auto insurance in Nova Scotia. At Archway Insurance, we’re here to help you with all of your Nova Scotia-based auto insurance needs.
1. Be aware of the trends impacting the trucking industry
These are four of the top trends impacting the trucking industry—both positive and negative:
- Bankruptcy. Unfortunately, many carriers have had to declare bankruptcy due to decreased business.
- Better technology. New software can help trucking operations run more smoothly and even plan out “smart” routes for drivers.
- A boom in e-commerce. This trend is something trucking companies can use to help them expand their business.
- Rising fuel costs. This can have a massive impact on your trucking company’s profitability. You may want to consider investing in electric trucks in the future.
The trucking industry is constantly changing, so it’s essential to be on top of trends to ensure your company remains viable.
2. Keep on top of potential issues with vaccination requirements
Vaccines and vaccine mandates have been a polarizing issue during COVID-19. Industries that have implemented vaccine mandates have lost employees who are unwilling to get vaccinated.
The trucking industry has been particularly impacted, as they’ve had to deal with both Canadian and American vaccine mandates. Some truckers have recently participated in the “Freedom Convoy” to protest all vaccine mandates.
While some provinces are starting to roll back vaccine mandates, the ones at the Canadian-American border stand. So, if your company does business across the border, your drivers must be vaccinated.
3. Think about ways to grow your client base
A great way to ensure that your trucking company remains viable is to expand your customer base. You can access more revenue streams and protection by diversifying if one of your clients suddenly goes under.
An excellent way to grow your company without spending a lot of money is to create a business website, and then promote yourself both on social media and in person at truck shows and other meet-ups.
Your website should let potential clients know:
- What services you offer.
- What your base rates are.
- How they can contact you for more information.
When a potential client does contact you, be sure to respond quickly! You don’t want to lose an opportunity because you took too long to respond.
How can Archway Insurance help me with auto insurance in Nova Scotia?
Another way to make sure you’re ready for spring 2022 is to ensure you’re up to date on your Nova Scotia-based auto insurance. Depending on how active your business has been, you may need to update your auto insurance.
If you run a trucking company, then auto insurance in Nova Scotia is a must. It protects your trucks and your drivers in various circumstances. These are some of the main types of protection that Nova Scotia-based auto insurance offers:
- Third-party liability coverage. This covers you for either injuries or property damage claims brought forward by a third party caused due to negligence by your company or your drivers.
- Direct compensation property damage (DCPD). This is a mandatory part of Nova Scotia-based auto insurance. You deal with your own insurance company, regardless of who is at fault for the accident. The goal is to ensure your truck gets repaired faster.
- Collision coverage covers your truck’s repair cost due to a collision with another vehicle or object.
- Comprehensive coverage covers damages to your trucks that aren’t due to a collision, such as from being stolen, vandalized, or catching on fire.
- Accident benefits cover the costs associated with your truck drivers being in an accident, including medical treatment and funeral expenses.
In addition to having auto insurance, your trucking company should also have other kinds of insurance, including cargo coverage, commercial general liability coverage, and property coverage.
When you call Archway Insurance to learn about our Nova Scotia-based auto insurance, we can explain to you the various factors that will impact the cost of your auto coverage. Some of these factors are the number of vehicles you need to insure, your insurance claims history, the type and value of goods that your truckers haul, and the distance that your truckers travel.
How to Make Sure Your Trucking Company is Fully Prepared for Spring 2022
We’re finally coming out of the pandemic, and restrictions are starting to ease. Your trucking company therefore needs to be fully prepared for spring 2022. To summarize, these are our top tips for being ready:
- Be prepared to take advantage of some of the top trends in the trucking industry, including the ability to plan “smart” routes and a boom in e-commerce.
- Stay up to date on vaccination requirements, especially if your truckers need to cross the U.S. border.
- Think about ways to expand your business, such as creating a professional website and promoting your business on social media.
You also need to ensure that you have all the necessary auto insurance in place. At Archway Insurance, we’re happy to answer any questions you may have about auto insurance in Nova Scotia and design a customized package just for you!