What to do if Your Trucking Insurance is Non-Renewed

Truck Insurance Non-Renewal Image

It’s 30 – 90 days before your trucking insurance renewal and you’ve just been informed that it’s been non-renewed. The good news is that a non-renewal typically will not negatively impact your ability to find insurance. This post will explain why you may have received this notice and what to do in order to keep your operation up-and-running.

Why was I Non-Renewed?

First, it should be noted that a non-renewal is not the same as a cancellation. Unlike a cancellation notice, a non-renewal notice is usually issued on part of a change with the insurance carrier. For example, the insurance carrier may no longer write in your state or has left the market entirely (i.e., Zurich Insurance Group AG and American International Group Inc).

However, a non-renewal will impact your ability to find new insurance if it was a result of late- or non-payment, an increase in the severity or frequency of claims, or poor inspections and compliance.

Non-Renewed, Now What?

If you’re insured direct through the carrier, navigating a non-renewal can be tricky. Since the carrier is no longer choosing to write your insurance, it is now your responsibility to either find a new carrier or find an agent to help you do so.

However, if you’re insured through an insurance agency, your agent should have also received a notice of your non-renewal. Therefore, your agent should be able to re-market your policy to carriers with whom s/he believes your operation will best fit.

If you were insured direct through the carrier and you are now thinking about receiving a quote through an agent, here is a list of what the agent will need:

  • Driver Schedule – Name, Driver’s license number, Date of birth, Hire date, and Years of CDL experience for each driver.
  • Vehicle Schedule – Years, Make, VIN number, and value of each tractor/trailer.
  • IFTA – Last four (4) quarters of Fuel Tax Reports (mileage broken down by state).
  • Loss Runs – Last three (3) years.
  • Financial Information – Financials from the most recent year.
  • Insurance Certificate – Showing current coverage.
  • Commodities Hauled – List top three to four commodities hauled.
  • Safety Information – Safety Director’s name and experience, Copy of safety manual, Copy of driver guidelines, and Any safety equipment (EOBRs/ELDs, GPS, Speed governed, etc.)

Truck Writers partners with its clients in the trucking industry to tailor an insurance policy unique to their operation. For more information on non-renewal notices, or to receive a trucking insurance quote, contact an agent at Truck Writers today.

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