How Inflation Is Driving Up the Cost of Trucking Insurance — and What You Can Do About It

Inflation has touched nearly every corner of the economy, and the trucking industry is no exception. One area where truckers and fleet owners are feeling the pinch the most is insurance. From rising repair costs and medical bills to increased litigation and vehicle values, these inflation-driven changes are causing trucking insurance premiums to climb sharply. Whether you're an owner-operator or managing a fleet, understanding what's behind these rising costs — and how to protect your bottom line — is more important than ever. 

Why Is Trucking Insurance Getting More Expensive?

Several factors are contributing to the rising cost of commercial truck insurance:

• Vehicle Repair Costs Are Up: Newer trucks have advanced tech, making repairs more expensive.

• Medical Bills Are Climbing: Accident-related injury claims now cost more due to healthcare inflation.

• Litigation & Settlements Are Rising: The trucking industry is facing larger claim payouts and legal fees.

• Parts Shortages & Labor Delays: Extended downtime raises claim costs for insurers.

• Cargo Values Are Higher: Increased cargo value means increased risk and higher premiums.

  
  

• Don’t Let Inflation Derail Your Business

  While you can’t control inflation, you can take smart steps to manage its effects. With the right agent and a proactive plan, you can reduce your exposure and keep your trucks on the road.

  Contact Source One Insurance Agency today to review your current policy or get a quote 410-417-9639 — we’re here to help truckers stay protected and profitable in any economy.