Increased insurance premiums have driven trucking companies to increase deductibles and amounts of retention.
Couple that with low margins. That makes safety and risk impactful on profits.
ATRI’s Operational Costs of Trucking for 2024 found that the total cost of risk, premium plus “out of pocket” is $0.135/mile; $5.43/hour. The impact is demonstrated by being seen from the perspective of the average profit margins.
Average non-LTL revenue? $3.707/mile. And operating margin? $0.111/mile and $4.471/hour. Less than the total cost of risk.
Want to increase profit? Increase safety and decrease risk.