Insurance premiums for the commercial vehicle sector are at their highest ever.
The problem is just another one the logistics industry is currently facing, alongside ongoing tariffs and a significant shortage of drivers.
Fleet operators appear to be prioritizing cost management, and vehicle upkeep appears to be a sector priority for some owners, according to exclusive research from Tech.co.
Trucking Companies Face Record-High Insurance Premiums
The Bureau of Labor Statistics has revealed that insurance premiums for the commercial vehicle sector have reached record-high numbers, and have been sharply increasing since the beginning of the year.
Logistics experts have suggested that the cause of increasing premiums is linked to inflation, tariff fallout, and litigation.
This just in! View
the top business tech deals for 2025 👨💻
A report by Risk Strategies has also pointed to the seriousness of the problem, with physical damage coverage increasing by 20% to 25%, umbrella liability by 10% to 30%, and autoliability by 10% to 20%.
High Premiums Adds to Logistics Woes
Logistics experts also predict that tariffs could make the situation even worse for fleet operators looking for more affordable premiums. Certain tariffs on Mexico and Canada target trucks and truck parts.
The significant rise in insurance premiums seems to be another ongoing issue that logistics professionals are currently facing.
A recent report from Overhaul has concluded that cargo theft is also on the rise, and with the driver shortage now impacting businesses across the industry, it seems logistics companies are having to be more determined and agile than ever.
How Fleet Operators and Managers Are Dealing With Rising Costs
Tech.co data from July shows that 18% of companies that were prioritizing financial management within their company were doing so by negotiating better premiums with their providers.
This is evidence for how much of a burden rising insurance premiums are when businesses are trying to manage costs, and comes amid other cost worries, such as rising diesel prices.
As a fleet owner or operator, keeping costs down in a rapidly shifting, uncertain climate is essential. In fact, our data shows that one of the priorities of sector professionals is vehicle upkeep, cited by 20% of respondents. Vehicle upkeep prevents issues with vehicle breakdowns, which is essential for ensuring premiums don’t rise.
To upkeep their vehicles, our study showed that professionals are: carrying out preventative maintenance (75%), upgrading or replacing aging components (47%) and addressing mechanical issues (46%).
