Every fleet leader today can tell you the same thing without checking a single spreadsheet: Insurance premiums are rising fast and not slowing down anytime soon.
According to the latest American Transportation Research Institute (ATRI) report, Insurance Cost/Availability jumped back to number three on the list of the industry’s top concerns. And it’s not hard to understand why.
Over the last eight years, insurance premiums in trucking have climbed a staggering 36%. What makes that especially frustrating for carriers is that truck crashes are actually decreasing. The industry is getting safer, yet the cost of insuring that safety keeps going up.
So what’s really happening behind the scenes? Why do insurance costs keep going up?
1. Loss Severity Is Rising
Even though the number of crashes is down, the cost of those crashes is way up.
A single claim is now far more likely to involve:
- Higher medical bills
- More expensive vehicle repair costs
- Lengthier lawsuits
- Larger settlement demands
Insurers price based on how much they expect to pay out, not just how often. And today, payouts are ballooning.
2. Lawsuits and Litigation Pressure
The trucking industry is living through a wave of nuclear verdicts with jury awards in the tens or even hundreds of millions.
These verdicts don’t just affect the companies involved. They ripple across the entire insurance market. Carriers end up paying higher premiums because underwriters must adjust for a world where one single claim could destroy an insurer’s profit for the entire year.
Litigation is no longer a line item. It’s a major economic force reshaping the entire commercial auto industry.
3. Social Inflation
This is one of the most misunderstood drivers of insurance costs.
Social inflation refers to the societal trends that cause juries, judges, and the general public to award much higher payouts than in previous decades. This includes:
- Anti-corporate sentiment
- Aggressive plaintiff attorney tactics
- Third-party litigation funding
- Expanded definitions of damages
Basically, lawsuits cost more today not because the facts changed, but because the environment around them did.
How Ten Four Truck Insurance Is Trying to Help Lower Insurance Costs
ATRI’s research shows that the trucking industry isn’t just complaining, but it’s also asking for practical steps forward.
The areas that fleets would say would make the most impact for them are the exact areas that Ten Four Truck Insurance is concentrating on.
Investment in Technology
Fleets are investing millions in advanced safety technologies such as ADAS systems, collision mitigation technology, speed limiters, in-cab cameras, and comprehensive telematics. These tools are designed to reduce risk, prevent crashes, and give carriers deeper visibility into driver behavior and vehicle performance, all with the goal of creating safer and more efficient operations. Traditionally, the ROI on these investments has been inconsistent because some insurers didn’t recognize them with meaningful premium reductions.
At Ten Four Truck Insurance, we believe technology isn’t just a nice-to-have, it’s a game changer. From driver monitoring and coaching to keeping up with compliance, the right technology tools can make a real difference in safety and operations. And the best part is fleets that invest in and actively use these technologies can see tangible rewards, like lower insurance premiums. It’s a win-win. Better safety, better performance, means a healthier bottom line.
Public Education on How Lawsuits Impact Consumers
Most consumers don’t realize that higher verdicts lead to higher insurance premiums, which drive up freight costs and ultimately mean higher prices on store shelves. Research from ATRI shows that lawsuit abuse raises costs for every household in America. In response to this, Ten Four Truck Insurance is creating a variety of educational content such as blogs, videos, classes, and webinars, all designed to show fleets how focusing on safety and compliance can reduce exposure and better protect them in any potential litigation.
Research on What Actually Reduces Premiums
Carriers invest heavily in safety, but not all safety practices are viewed equally by insurers. Fleets want clear, research-backed answers to questions like: Which safety investments actually lower crash risk? Which training programs reduce the most claims? And which operational behaviors do insurers value most? The goal isn’t to guess but to measure what works and be rewarded for doing it.
Ten Four Truck Insurance is taking the guesswork out of the equation by conducting research to answer these questions. By understanding which safety and compliance practices truly make a difference, we can help fleets earn lower premiums, or at the very least, avoid unnecessary rate increases.
Insurance Isn’t Just an Expense, It’s a Strategy
Insurance rates aren’t rising because trucking is less safe. They’re rising because the world around trucking is getting more expensive, more litigious, and harder to predict.
The fleets that will succeed in today’s challenging environment are those that approach insurance as a strategic budget item, recognizing its role not just as a cost but as a tool for risk management and long-term financial stability. They invest in technology and ensure that these investments are properly recognized and leveraged to improve operational efficiency and safety outcomes. They also prioritize strengthening documentation and claims defense, creating robust systems that protect the company in the event of incidents. Above all, they focus on building a culture of genuine, measurable safety, where practices are not just policies on paper but are actively embraced, tracked, and reinforced across the organization. The challenge is real. But so are the opportunities for fleets that stay proactive.