As a trucking company owner or operator, you face many risks, from accidents and liability claims to cargo theft and equipment breakdowns. Traditional insurance policies can be expensive and may not cover all of the risks you face. Captive insurance is self-insurance that can help trucking companies lower costs and manage risks more effectively. In this article, we will explore captive insurance, how it works, and how it can benefit trucking companies.
Captive insurance is a form of self-insurance where a company creates its own insurance company to cover its own risks. Instead of paying premiums to a third-party insurer, the company contributes funds to its captive insurance company, which is then used to pay for losses or claims. Companies with unique risks or high premiums, such as trucking companies, typically use captive insurance.
How Does Captive Insurance Work for Trucking Companies?
Trucking companies can form their own captive insurance company, which is owned and controlled by the company. The captive insurance company can provide coverage for the trucking company’s risks, such as accidents, cargo theft, and equipment breakdowns. The trucking company contributes funds to the captive insurance company, which are then used to pay for claims or losses. By forming their own captive insurance company, trucking companies can reduce their insurance costs and have more control over their insurance coverage.
Benefits of Captive Insurance for Trucking Companies
There are several benefits of captive insurance for trucking companies, including:
- Lower insurance costs: By forming their own captive insurance company, trucking companies can lower their insurance costs by avoiding high premiums charged by third-party insurers.
- Customized coverage: Captive insurance allows trucking companies to customize their range to meet their specific needs, providing more comprehensive protection.
- Improved risk management: Captive insurance can help trucking companies better manage their risks by allowing them to develop and implement their risk management strategies.
- Tax advantages: Captive insurance companies can offer tax advantages, such as tax-deductible contributions and lower tax rates.
The Importance of Trucking Insurance Coverage
Trucking insurance coverage is an essential aspect of any trucking business. It is a type of commercial auto insurance that protects trucking companies in the event of accidents, theft or damage to their vehicles. As a trucking business owner, having proper insurance coverage is crucial to the longevity of your business. In this article, we will discuss the importance of trucking insurance coverage and why it is necessary for your business.
Protecting your business from financial losses
One of the main reasons why trucking insurance coverage is necessary is that it protects your business from financial losses. In the event of an accident, theft, or damage to your vehicle, having insurance coverage can help cover the costs of repairs, replacements, or any legal fees that may arise. Without insurance coverage, your business could face significant financial losses that could put your business at risk.
Compliance with state and federal regulations
Another reason why trucking insurance coverage is essential is that it helps you comply with state and federal regulations. Most states require trucking companies to carry minimum liability insurance coverage to operate legally. Additionally, the Federal Motor Carrier Safety Administration (FMCSA) requires trucking companies to have a minimum insurance coverage to ensure the safety of other motorists on the road.
Protecting your employees and cargo
Trucking insurance protects not only your business but also your employees and cargo. In an accident, your employees could be injured or harmed, and your shipment could be damaged or lost. Insurance coverage can help cover the costs of medical expenses for your employees and any damage to your cargo.
Providing peace of mind
Running a trucking business can be stressful, and having proper insurance coverage can provide peace of mind. Knowing that your business is protected in an accident or other unforeseen event can help reduce the stress and worry that often comes with running a business. Additionally, having insurance coverage can help you focus on growing your business and achieving your goals without worrying about potential financial losses.
In conclusion, insurance coverage is a vital aspect of any trucking business. It protects your business from financial losses, helps you comply with state and federal regulations, protects your employees and cargo, and provides peace of mind. As a trucking business owner, having proper insurance coverage is essential to ensure your business’s longevity and success.
Understanding Commercial Auto Policy for Trucking Firms
As a trucking firm, having a commercial auto policy is essential for protecting your business, employees, and assets. With so many different policies available, it can be overwhelming to understand the other coverage options and determine which procedure is right for your company. In this article, we’ll explain the basics of commercial auto insurance for trucking firms, including coverage options, factors that affect your premium, and how to find the right policy for your business.
As a trucking firm, having a commercial auto policy is essential for protecting your business, employees, and assets. This article will explain the basics of commercial auto insurance for trucking firms.
1. What is Commercial Auto Insurance?
Commercial auto insurance is a policy that provides coverage for vehicles used for business purposes. It’s important to note that personal auto insurance policies generally do not cover vehicles used for business purposes.
2. Coverage Options
Commercial auto policies typically offer several types of coverage options, including
A. Liability Coverage: This type of coverage is mandatory in most states and covers damages that your company is responsible for in the event of an accident.
B. Physical Damage Coverage: This coverage protects your company’s vehicles from damage caused by collisions, theft, vandalism, and other covered events.
C. Cargo Coverage: If your company transports goods or materials, cargo coverage can protect against damage or loss of the cargo in transit.
D. General Liability Coverage: This type of coverage protects your business from lawsuits that may arise from accidents involving your vehicles.
3. Factors Affecting Your Premium
The cost of a commercial auto policy can vary based on several factors, including
A. Type of Vehicle: The make and model of your vehicles can impact your premium.
B. Driving Record: The driving records of your employees who will be driving your company’s vehicles can affect your premium.
C. Cargo Type: If your company transports hazardous materials, your premium may be higher.
D. Coverage Limits: Higher coverage limits will result in a higher premium.
4. How to Find the Right Policy for Your Business
When shopping for a commercial auto policy, it’s essential to consider several factors, including
A. Reputation of the Insurance Company: Look for a reputable insurance company with good customer service and a history of paying claims.
B. Coverage Options: Determine which coverage options your business needs and compare policies from multiple insurance companies.
C. Cost: Get quotes from multiple insurance companies and compare the costs of each policy.
D. Deductible: Consider the deductible amount, which is the amount you’ll be responsible for paying out of pocket in case of a claim.
Commercial auto insurance is an essential type of policy for trucking firms. By understanding the different coverage options and factors that affect your premium, you can find the right approach to protect your business, employees, and assets. Remember to compare policies from multiple insurance companies and choose a reputable company.
The Importance of Risk Management for Trucking Companies
The trucking industry plays a crucial role in the global economy, moving goods and supplies long distances and connecting businesses with consumers. However, with this critical function comes inherent risks and hazards that can threaten the safety of drivers, vehicles, and cargo. Risk management is crucial for trucking companies to protect their assets, employees, and reputation on the road. In this article, we’ll explore the importance of risk management for trucking companies and provide some tips and strategies to mitigate risks and reduce hazards.
Why is Risk Management Important for Trucking Companies?
Trucking companies face various risks and challenges in their daily operations, from accidents and cargo theft to natural disasters and equipment breakdowns. Managing these risks effectively can have severe consequences, including financial losses, reputational damage, and legal liabilities. Some of the key reasons why risk management is essential for trucking companies include:
- Protecting assets: Trucks, cargo, and other equipment represent significant investments for trucking companies. Effective risk management can help protect these assets from damage, theft, or loss.
- Ensuring compliance: The trucking industry is subject to a range of federal and state regulations, including safety standards, hours-of-service rules, and drug and alcohol testing. Effective risk management can help ensure compliance with these regulations and avoid penalties and fines.
- Safeguarding employees: Truck drivers and other employees face a range of hazards on the road, including accidents, injuries, and illnesses. Risk management can help protect employees and reduce the likelihood of incidents.
- Reducing insurance costs: By implementing effective risk management strategies, trucking companies can reduce insurance costs and premiums, which can help improve their bottom line.
Strategies for Effective Risk Management in the Trucking Industry
Now that we’ve discussed the importance of risk management for trucking companies, let’s explore some strategies and best practices for mitigating hazards and reducing risks in the trucking industry. Some key plans include:
- Implementing a safety program: Trucking companies should establish a formal safety program that includes regular training and education for drivers and other employees and policies and procedures for maintaining safe driving practices and preventing accidents.
- Conducting regular inspections and maintenance: Regular inspections can help identify and address potential hazards and prevent breakdowns and other equipment failures.
- Investing in technology: Advanced technologies such as GPS tracking, telematics, and driver-assist systems can help improve safety, reduce risks, and increase efficiency in the trucking industry.
- Managing driver fatigue: Driver fatigue is a leading cause of accidents in the trucking industry. To mitigate this risk, trucking companies should implement policies and procedures for managing driver fatigue, including limiting service hours, providing rest breaks, and monitoring driver schedules.
How Safety Programs Can Reduce Insurance Premiums
As a business owner, you know the importance of protecting your employees and customers from accidents and injuries. But did you know that having safety programs in place can also help you save on insurance premiums? By preventing accidents and minimizing risks, you can reduce the likelihood of insurance claims and lower your insurance costs.
This article will explore how safety programs can reduce insurance premiums. We will discuss the different types of safety programs, their benefits, and how they can help your business save money on insurance. So, let’s get started.
Types of Safety Programs:
Businesses can implement several types of safety programs to promote safety and prevent accidents. Some of the most common safety programs include:
- Occupational Health and Safety (OHS) Programs: These programs are designed to identify and mitigate risks in the workplace. They include safety training, hazard assessments, and policies and procedures for managing safety risks.
- Return-to-Work Programs: These programs are designed to help employees injured or become an ill return to work as soon as possible. They include medical management, modified work assignments, and rehabilitation programs.
- Wellness Programs: These programs promote healthy lifestyles and prevent injuries and illnesses. They may include fitness programs, health screenings, and health education.
Benefits of Safety Programs:
Implementing safety programs in your business can offer a wide range of benefits, including:
- Reduced Insurance Premiums: Safety programs can help businesses qualify for lower insurance premiums by reducing the likelihood of accidents and claims.
- Improved Employee Morale: Safety programs demonstrate that the business cares about the well-being of its employees, which can boost morale and increase job satisfaction.
- Increased Productivity: When employees feel safe and secure, they are more likely to be productive and engaged at work.
- Reduced Costs: By preventing accidents and injuries, safety programs can help businesses avoid the costs associated with insurance claims, workers’ compensation, and lost productivity.
How Safety Programs Can Reduce Insurance Premiums:
There are several ways that safety programs can help reduce insurance premiums. These include:
- Lowering the Frequency and Severity of Claims: Safety programs can help prevent accidents and minimize their impact, which can reduce the frequency and severity of insurance claims.
- Demonstrating Risk Management: By implementing safety programs, businesses demonstrate their commitment to risk management, which can help them qualify for lower insurance premiums.
- Improving Loss History: A business with a strong safety record can improve its loss history, which can help reduce insurance premiums.
The Importance of Driver Training Programs for Safety
Road safety is of utmost importance, and the role of drivers cannot be emphasized enough. A single mistake on the road can have severe consequences, leading to injuries, fatalities, and property loss. This is why driver training programs are crucial for safety on the streets. These programs equip drivers with the skills and knowledge needed to navigate the roads safely and efficiently. In this article, we will explore the importance of driver training programs for safety and how they can benefit drivers and the community as a whole.
Why is Driver Training Programs Important for Safety?
- Enhance driving skills: Driver training programs help enhance driving skills, which are crucial for road safety. Drivers learn defensive driving techniques, hazard perception, and emergency maneuvers, which enable them to react appropriately in different driving scenarios.
- Improve knowledge of traffic laws: Driver training programs also cover traffic laws and regulations, which are essential for safe driving. This knowledge helps drivers avoid violations that can lead to accidents and other road incidents.
- Reduce accidents: By enhancing driving skills and knowledge of traffic laws, driver training programs can help reduce road accidents. According to a study by the National Highway Traffic Safety Administration (NHTSA), drivers who completed driver training programs had a 30% lower rate of accidents than those who did not.
- Save lives: Driver training programs can significantly impact the number of fatalities on the roads. According to the NHTSA, 28% of all traffic fatalities in 2019 involved drivers who were under the influence of alcohol. By teaching safe driving practices, driver training programs can help reduce the number of road deaths.
How do Driver Training Programs Benefit Drivers and the Community?
- Reduced insurance premiums: Drivers who complete driver training programs may be eligible for reduced insurance premiums. Insurance companies recognize the benefits of such programs and offer discounts to drivers who have met them.
- Improved employability: Driver training programs can also enhance employability for drivers. Employers prefer to hire drivers who have completed such programs as they are seen as more skilled and responsible.
- Better community safety: Driver training programs also benefit the community. By reducing accidents and fatalities, these programs help make the roads safer for everyone. This, in turn, reduces the burden on emergency services and hospitals, freeing up resources for other areas of need.
Understanding Regulatory Compliance for Trucking Firms
Trucking firms must stay on top of regulatory compliance to avoid penalties, lawsuits, and reputational damage. This article provides a comprehensive guide to help trucking firms understand and meet their compliance obligations.
Trucking firms play a critical role in transporting goods across the country. However, with this role comes a great responsibility to comply with federal, state, and local regulations that govern the industry. Non-compliance can result in severe consequences, such as penalties, lawsuits, and reputational damage. Therefore, trucking firms must have a solid understanding of regulatory compliance to ensure they stay on the right side of the law.
This article will provide a comprehensive guide to help trucking firms understand the regulatory compliance landscape and meet their compliance obligations.
Understanding Regulatory Compliance for Trucking Firms – The Basics:
Before diving into the specific regulations that trucking firms need to comply with, it’s essential to understand what regulatory compliance means. Regulatory compliance refers to ensuring that a business adheres to laws, regulations, and guidelines relevant to its industry. This process involves taking proactive steps to identify and mitigate compliance risks, ensuring that employees are trained and informed about compliance obligations, and maintaining accurate records and documentation to demonstrate compliance.
Regulatory compliance is essential for trucking firms because they operate in a heavily regulated industry. The trucking industry is subject to numerous federal, state, and local regulations that cover everything from driver qualifications to vehicle maintenance and safety standards.
Understanding the Specific Regulations:
To stay compliant, trucking firms must be aware of the various regulations that apply to their operations. Here are some of the critical regulations that trucking firms need to comply with:
- Federal Motor Carrier Safety Regulations (FMCSRs) cover a wide range of areas, including driver qualifications, hours of service, vehicle maintenance and inspections, and cargo securement.
- Hazardous Materials Regulations (HMRs) – These regulations govern the transportation of hazardous materials and require strict adherence to labeling, packaging, and handling requirements.
- Electronic Logging Device (ELD) Mandate – This regulation requires trucking firms to install and use ELDs to record driver hours of service and ensure compliance with FMCSRs.
- International Fuel Tax Agreement (IFTA) – This agreement requires trucking firms to register and report fuel usage and taxes for vehicles that operate in multiple jurisdictions.
- Unified Carrier Registration (UCR) – This program requires trucking firms to register and pay an annual fee based on their fleet size.
Meeting Compliance Obligations:
Compliance with these regulations requires trucking firms to take a proactive approach to risk management. Here are some of the critical steps that trucking firms can take to meet their compliance obligations:
- Establish a compliance program – Trucking firms should have a formal compliance program that includes policies and procedures, employee training, and ongoing monitoring and reporting.
- Conduct regular audits – Regular audits can help identify compliance issues and provide opportunities to take corrective action before violations occur.
- Maintain accurate records – Trucking firms must maintain correct records and documentation to demonstrate compliance with regulations.
- Use technology – Technology, such as ELDs, can help trucking firms automate compliance processes and ensure accurate record-keeping.
How to Ensure DOT Compliance for Your Trucking Company
Ensuring DOT compliance is crucial for the success of any trucking company. In this article, we’ll provide a comprehensive guide on ensuring DOT compliance for your trucking company, including regulations, requirements, and best practices.
If you’re running a trucking company, it’s essential to ensure that you comply with the regulations set by the Department of Transportation (DOT). Failing to comply with these regulations can result in severe consequences, including fines, penalties, and even the revocation of your operating license. In this article, we’ll provide a comprehensive guide on ensuring DOT compliance for your trucking company, including regulations, requirements, and best practices.
Regulations and Requirements:
To ensure DOT compliance for your trucking company, you must know the regulations and requirements that apply to your business. Some of the fundamental rules and conditions include the following:
- Driver Qualifications: You must ensure that your drivers meet all the qualifications set by the DOT, including having a valid commercial driver’s license (CDL) and meeting the physical capabilities.
- Hours of Service: The DOT has set limits on the number of hours a driver can work per day and per week. You must ensure that your drivers are adhering to these limits.
- Vehicle Maintenance: You must ensure that your vehicles are properly maintained and inspected and that all defects are promptly addressed.
- Drug and Alcohol Testing: The DOT requires all drivers to undergo drug and alcohol testing. You must have a drug and alcohol testing program and ensure that all drivers are tested as required.
In addition to complying with the regulations and requirements, there are also several best practices that you can follow to ensure DOT compliance for your trucking company. Some of these best practices include:
- Implementing a Compliance Program: You should implement a compliance program that includes policies, procedures, and employee training. This will help ensure that everyone in your organization understands the regulations and requirements and is following them.
- Conducting Regular Audits: You should conduct regular audits of your operations to ensure that you comply with the regulations and requirements. This will help identify any areas where you may fall short and allow you to take corrective action.
- Keeping Accurate Records: You must keep accurate records of all aspects of your operations, including driver qualifications, hours of service, vehicle maintenance, and drug and alcohol testing. These records will help demonstrate your compliance in the event of an audit.
How to Reduce the Cost of Insurance for Trucking Firms
Reducing the cost of insurance for trucking firms can be a challenging task. The transportation industry is inherently risky, with numerous factors that can increase the likelihood of accidents and insurance claims. However, there are steps that trucking firms can take to help reduce the cost of their insurance premiums. This article will explore some of the most effective strategies for lowering insurance costs for trucking firms.
Invest in Safety and Training Programs
One of the most effective ways to reduce insurance costs for trucking firms is to invest in safety and training programs. You can significantly reduce the risk of accidents and insurance claims by ensuring that your drivers are appropriately trained and equipped to handle various driving situations. Additionally, implementing safety programs, such as driver monitoring and regular vehicle inspections, can help identify potential issues before they become more significant problems.
Evaluate and Manage Your Risks
Another critical aspect of reducing insurance costs for trucking firms in evaluating and managing your risks. Taking a proactive approach to risk management can help minimize the likelihood of insurance claims and ultimately reduce your insurance costs. This can involve various strategies, from reviewing your current insurance policies to identifying potential risk factors within your business operations.
Shop Around for Insurance Policies
One of the simplest and most effective ways to reduce the cost of insurance for trucking firms is to shop around for insurance policies. Insurance rates can vary significantly between different providers, so it’s essential to take the time to compare other options and find the best possible deal for your business. Additionally, review your policy regularly and make adjustments as necessary to ensure that you’re always getting the best possible rates.
Consider Higher Deductibles
Another strategy that can help reduce insurance costs for trucking firms is to consider higher deductibles. While this may result in higher out-of-pocket expenses in the event of an accident, it can significantly reduce your monthly insurance premiums. This approach can be efficient for trucking firms with a strong safety record and confidence in their ability to avoid accidents.
Maintain a Good Credit Score
Finally, maintaining a good credit score is an often-overlooked strategy for reducing insurance costs for trucking firms. Many insurance providers use credit scores to determine insurance rates, so it’s essential to stay on top of your credit score and work to improve it if necessary. This can help you secure better rates and ultimately reduce your insurance costs.
In conclusion, reducing the cost of insurance for trucking firms requires a multi-faceted approach that incorporates a range of strategies. Investing in safety and training programs, evaluating and managing your risks, shopping around for insurance policies, considering higher deductibles, and maintaining a good credit score can help reduce your insurance costs and improve your bottom line.
Tax Planning Strategies for Trucking Companies
Discover effective tax planning strategies that can help trucking companies reduce tax liabilities, maximize savings, and improve profitability.
As a trucking company, managing your finances and staying on top of your tax obligations can be a complex and daunting task. With the constantly changing tax laws and regulations, it’s essential to have a solid tax planning strategy in place to minimize liabilities and maximize savings. In this article, we’ll explore some effective tax planning strategies for trucking companies that can help you stay on top of your tax obligations while improving your bottom line.
Understanding the Tax Landscape for Trucking Companies:
Trucking companies are subject to a wide range of taxes, including income tax, sales tax, fuel tax, and highway use tax. Federal, state, and local tax laws can all impact your tax liabilities and obligations. Understanding the tax landscape for your business and staying up-to-date with the latest tax laws and regulations is essential.
Tax Planning Strategies for Trucking Companies:
Take Advantage of Depreciation and Section 179:
Trucking companies can use depreciation and Section 179 to reduce their tax liabilities. Depreciation allows you to deduct the cost of your assets over a set period. Section 179 allows you to remove the total cost of qualifying equipment or software in the year of purchase.
Keep Accurate Records:
Keeping accurate records is crucial to effective tax planning. Accurate record-keeping can help you maximize deductions and minimize liabilities. Ensure you have a system for tracking your income and expenses, and keep all receipts and invoices.
Incorporating your trucking company can provide significant tax benefits, including reduced liability and more favorable tax treatment. Consult with a tax professional to determine if incorporation is right for your business.
Maximize Business Expenses and Deductions:
Trucking companies can deduct a wide range of business expenses, including fuel, maintenance, and employee salaries. Ensure you take advantage of all available deductions to minimize your tax liabilities.
Make Timely Tax Payments and Filings:
Making timely tax payments and filings is essential to avoid penalties and interest charges. Make sure you know all tax filing deadlines and have a system in place for timely payments and filings.
Work with a Tax Professional:
Working with a tax professional can help you stay on top of your tax obligations and identify opportunities for savings. A tax professional can also guide the latest tax laws and regulations.
FAQs- Frequently Asked Questions
Q1. Is captive insurance right for every trucking company?
Ans. Actually, captive insurance is only suitable for some trucking companies. Companies with unique risks or high premiums typically use captive insurance.
Q2. How much money do I need to start a captive insurance company?
Ans. The amount of money needed to start a captive insurance company can vary depending on the size of the company and the risks involved. It is essential to consult with a captive insurance expert to determine the appropriate funding level.
Q3. Can a captive insurance company provide coverage for multiple trucking companies?
Ans. A captive insurance company can provide coverage for multiple trucking companies as long as they have a common interest or risk.
Q4. Can trucking companies deduct fuel expenses?
Ans. Yes, fuel expenses are generally deductible as a business expenses.
Q5. What is Section 179?
Ans. Section 179 allows businesses to deduct the total cost of qualifying equipment or software in the year of purchase.
Q6. Can trucking companies claim a mileage deduction for employees?
Ans. Trucking companies can claim a mileage deduction for employees who use their personal vehicles for business purposes.
Q7. What are the consequences of non-compliance with DOT regulations?
Ans. The consequences of non-compliance with DOT regulations can be severe, including fines, penalties, and even the revocation of your operating license.
Q8. How can I ensure that my drivers adhere to the hours-of-service limits?
Ans. You can ensure that your drivers adhere to the hours-of-service limits by implementing an electronic logging device (ELD) system, which will track their hours automatically.
Q9. What is the best way to implement a compliance program?
Ans. The best way to implement a compliance program is to work with a consultant or advisor who can help you develop policies, procedures, and training programs tailored to your specific needs.
Q10. Who can benefit from driver training programs?
Ans. Anyone who drives, regardless of experience or age, can benefit from driver training programs. These programs help drivers enhance their skills and knowledge of traffic laws, leading to safer driving and reduced accidents.
Q11. How long does it take to complete a driver training program?
Ans. The duration of driver training programs can vary depending on the program’s intensity and the driver’s experience level. Some programs may take a few hours to complete, while others may take several weeks.
Q12. Are driver training programs expensive?
Ans. Driver training programs can vary in cost, but they are generally affordable. In many cases, the program’s cost is offset by reduced insurance premiums, making it a worthwhile investment.
Q13. What are some common risks and hazards in the trucking industry?
Ans. Common risks and hazards in the trucking industry include accidents, cargo theft, natural disasters, equipment breakdowns, and driver fatigue.
Q14. How can trucking companies reduce insurance costs through effective risk management?
Ans. By implementing effective risk management strategies, such as regular safety training, inspections, and maintenance, trucking companies can reduce the likelihood of accidents and other incidents, which can lead to lower insurance premiums.
Q15. What role does technology play in risk management for trucking companies?
Ans. Advanced technologies such as GPS tracking, telematics, and driver-assist systems can help.
Q16. What types of vehicles are covered under a commercial auto policy?
Ans. Commercial auto policies can cover a variety of vehicles, including trucks, vans, and trailers.
Q17. Does the law require commercial auto insurance?
Ans. In most states, liability coverage is required by law for vehicles used for business purposes.
Q18. Can I include multiple vehicles on the same policy?
Ans. You can usually include multiple vehicles on the same policy to save money.
Q19. Does commercial auto insurance cover the personal use of company vehicles?
Ans. No, commercial auto insurance policies typically only cover vehicles used for business purposes.
Q20. How can I lower my commercial auto insurance premium?
Ans. You can lower your premium by increasing your deductible, reducing coverage limits, or shopping around for lower rates.
Captive insurance can provide trucking companies with cost savings, customized coverage, improved risk management, and tax advantages. By forming their own captive insurance company, trucking companies can have more control over their insurance coverage and better manage their risks. If you are a trucking company owner or operator, consider working with a captive insurance expert to determine if captive insurance is right for your business.