Why safety will lead the trucking industry to prosperous times

Why Safety Will Lead the Trucking Industry to Prosperous Times

The trucking industry has been heavily affected since 2022 with rising fuel costs, economic conditions, and decreased shipping rates which has led to about 15,000 trucking companies shutting down. The COVID-19 pandemic made a significant impact with increased shipping volumes, more trucking companies entered the market and when shipping volumes lowered so did shipping rates.

With the information provided, what can lead the trucking industry back to prosperous times? We will discuss why we think safety will play a vital role.

Why Implementing Safety is Critical for a Trucking Company?

There are many benefits and reasons why trucking companies can and should implement safety into their operation. Here are a few:

1. Reducing fatalities and injuries:

If not the most important reason, reducing fatalities and injuries for everyone on the road and making the roadway a safer place.

2. Compliance:

When trucking companies do not operate safely, they can incur fines, violations and even the suspension of operations.

3. Financial savings:

Financial savings can make or break a business and reducing accidents leads to lower insurance premiums and saves money on legal fees and medical expenses. Implementing safety can lead to big savings especially long-term savings.

4. Driver retention:

Truck drivers want to work for a company that implements safety and prioritizes the safety of the driver. By implementing safety, drivers are more loyal and reduce driver turnover.

How Can Trucking Companies Implement Safety?

1. ELD (electronic logging devices):

Electronic logging devices help prevent compliance violations and you can manage HOS (hours of service) and IFTA reports with an ELD solution.

2. Vehicle maintenance:

Vehicle maintenance should be a top priority for all motor carriers. The safety of your fleet starts with your units. Make sure to implement a routine and check your vehicle regularly.

3. Driver health programs:

Making sure your drivers are taken care of physically and mentally can lead to better awareness while operating. It is important to discuss the benefits of nutrition and exercise.

4. Dash cameras:

Utilizing dash cameras in your operation helps pinpoint errors drivers can correct and help prevent insurance fraud.

How Russell Agency Can Help Improve Safety

Trucking insurance from Russell Agency provides your business with a team of experts dedicated to helping your business succeed. Learn more about trucking companies who have benefited by using Russell Agency.

Russell Agency currently provides trucking insurance to Alabama, Georgia, Tennessee and Wisconsin.