Are you dreading the process of renewing your insurance policy?
Insurance can be a hassle, but at Charles String Trucking Insurance Agency, we’re dedicated to making it better for you. Here are some valuable advice on how you can prepare for your next policy and make the underwriter’s life easier. By anticipating and gathering the necessary information, you’ll have more control over your insurance and spend less time waiting for answers. Let’s dive in!

Key Points:

  1. Know your numbers:

– Total miles and average miles per truck.

– Average haul distance and farthest distance hauled last year.

– Compare last year’s performance with your expectations for the coming year.

– Calculate mileage using IFTA reports, especially if your renewal is after the IFTA deadline.

  1. Revenue:

– Determine your total annual revenue over the last 3 to 5 years.

– Analyze whether your revenue has increased or decreased in the past year.

– Understand the reasons behind any decrease, as it may raise concerns during underwriting.

  1. Equipment – Trucks and Trailers:

– Keep track of historical counts of trucks and trailers.

– Collect details such as VIN numbers, registration dates, and vehicle values.

– Regularly update the values of your equipment, especially in a post-COVID market.

  1. Drivers:

– Maintain historical counts of drivers and monitor turnover rate.

– Consider average driver tenure and their experience levels (CDL years).

– Utilize driver tenure to offset higher turnover rates.

– Ensure updated Motor Vehicle Records (MVRs) are available at renewal.

  1. Lease agreements:

– Keep copies of lease agreements for both drivers and their equipment.

– Underwriting may request these documents for review.

  1. Inspections and Violations:

– Maintain records of inspections and violations.

– Document actions taken to address violations and prevent future incidents.

  1. Cargo:

– Identify the type of cargo you primarily haul.

– Understand average and maximum load values.

– Highlight any common shippers you work with.

  1. Company Policies:

– Document your standard operating procedures for hiring, training, and onboarding drivers.

– Outline your maintenance records and safety procedures.

– Keep records of safety training sessions.

– Establish data retention policies for Dashcam and ELD data.

  1. Loss Runs:

– Regularly order and have your loss runs (claim history) readily available.

– Access to loss runs ensures accurate quotes from underwriters.

  1. Completeness of submission:

– Provide all necessary data and paperwork for the submission.

– Underwriters prioritize complete submissions, speeding up the process.

  1. Declaration Pages:

– Keep declaration pages readily available.

– Scan and store them in a file on your computer for easy access and sharing.


  1. Know your criteria:

– Understand the criteria of your current policy.

– Discuss other policy or company options with your agent to ensure your drivers fit the profile.


– Use, a free software for companies with less than 50 trucks.

– It offers features like driver recruiting and aids in creating driver qualification files.

  1. Financials and Organization:

– Create your own spreadsheets in Google Docs to keep track of financials.

– Ensure easy access and sharing across devices and platforms.

Preparing for your insurance policy renewal doesn’t have to be overwhelming. By following these tips and staying organized, you can streamline the process and save time. At Charles String Trucking Insurance Agency, we’re here to help you navigate the world of insurance. Schedule a call or email us to discuss your specific needs. Remember, the more you know, the more your business can grow.

-Daniel Summers

Charles String Trucking Insurance Agency

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About the Author: Charles String

Our goal is simple; Help people start trucking companies, and keep them rolling. With my experience in transportation, I quickly decided to specialize in trucking insurance. It’s much more my speed and comfort zone: demanding, hectic, stressful…all the necessary ingredients to maintain my interests.