What a Trucking Company Can Do to Get Better Insurance

In this episode of Get a Load of This podcast, Cameron Pechia is joined by Bill Woodard, Transportation Insurance Broker at Risk Placement Services. Cam and Bill Woodard sit down and discuss what a trucking company should be doing in order to get more competitive insurance. They discuss coverages, trucking insurance companies, and what's important for a trucking company to know when shopping for a new insurance company. Episode Highlights: Bill discusses how he discovered the Get a Load of This podcast and what prompted him to reach out. (3:49) Bill explains his role in the industry as a general agent and how he was able to get insight into the inner workings of insurance carriers. (7:29) Bill shares that as a general agent, he helps retail agents get more market access which leads to a better price and more competitive product for insureds. (7:54) Bill discusses some of the factors he considers when helping trucking companies in finding competitive programs, products, and pricing. (11:06) Bill mentions that the nice thing about being an entrepreneurial trucker is that things become easier after three years, in terms of insurance. (18:56) Bill explains the importance of sticking to the commodities you intend to transport. (26:15) Bill discusses some of the most common misunderstandings about non-fleet to fleet insurance. (30:32) Bill mentions the importance of timely and comprehensive loss reporting. (41:22) Bill shares what message he would put on a billboard to reach out to the trucking community. (47:07) Key Quotes: “When it comes down to loss reporting, it is better to do timely and comprehensive loss reporting from just an overall insurance profile standpoint. Because in the end, it will get you more carrier options and a better price.” - Billy Woodard  “The key is to move when you have to, market when you have to, come when you have to, and when you have to do it right with the right person.” - Billy Woodard  “Just do the right thing, be receptive to the insurance carrier's advice, and the rest will work out. Don't let the anxiety get a hold of you and there will be anxiety, we get it, but do the right thing.” - Billy Woodard  Resources Mentioned: Bill Woodard LinkedIn Risk Placement Services Cameron Pechia Thomas Comstock Ryan Young Valley Trucking Insurance