Relief for Truck Insurance and Leases

Relief for Truck Insurance and Leases

Truckers are petitioning for further relief due to closures. Insurance rates have taken a nosedive as many truck drivers simply aren’t driving right now.

Due to the current issues stemming form COVID-19, many drivers are currently out of business, but they are still paying out large quantities of money to insurance policies. This has forced many to take their trucks off the road.

Relief From FMCSA and DOT

For truck drivers currently on the road, many are experiencing relief in the form of less restrictions. This has given many a larger opportunity for many truck drivers.

For starters, drivers are no longer forced to stop driving after the 8-hour mark. This has helped not only get drivers where they need to go faster, but it also helps small towns and grocery stores across the country receive the proper food, water, medication, and other necessary supplies. For small towns, the sight of a truck driver means that their local shop will be restocked.

Insurance Hasn’t Helped in Relief

Many insurance agencies are still expecting non-working drivers to pay their insurance which has forced them to either take their truck off the road and look for other means of work while under lock down.

For those leasing their truck, they are still obligated to pay off their agreed upon lease. This has put another large scale hit to many owner-operators across the nation. Some drivers are hit twice as hard. They have had to take their truck off the road. They have also needed to give that truck back by either returning it or by having it repossessed. This has led to a number of drivers who had previously been in good standing to forfeit their careers and potentially move to something else. With the current issues facing the country, the opportunity to work has been cut in half.

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