Rescue Your Revenue
Downtime Got Your Fleet Income Down?
Expedited trucking companies depend heavily on their fleet to keep their business running smoothly and generate income. However, accidents are an unfortunate reality in the industry. When these incidents occur, they can bring an expedited trucking operation to a sudden halt, resulting in significant financial losses. In such situations, knowing the available options and how to swiftly recover lost income becomes essential.
For expedited truckers, downtime due to accidents can be especially detrimental. Whether your fleet consists of power units only or includes trailers with various equipment like flatbeds, refrigerated trailers, or dry vans, any interruption in operations leads to income loss. The time required for repairs or replacements, extended by factors like parts shortages, can severely strain finances. That's why expedited trucking companies often pursue claims with the parties at fault, using aggressive strategies to quicken reimbursement and lessen unplanned losses.
Understanding Business Interruption
Business interruption insurance claims, also known as loss of use or downtime claims, serve as an essential resource for expedited truckers. These claims provide compensation for lost profits resulting from specific incidents, such as accidents affecting their equipment. Whether accidents occur on bustling city streets, high-speed interstates, or during slow maneuvers in warehouses and truck parking lots, expedited truckers can seek compensation for the income they've lost.
Navigating the Claims Process
While filing a claim with your own insurance company might seem like the logical step, it's essential to weigh the risks carefully. Such actions could lead to increased premiums or even loss of coverage, negatively impacting your bottom line. Expedited truckers often explore alternative options, such as filing claims against at-fault parties. If another driver is responsible for the accident, their insurance policy may cover not only repair costs but also lost income and related expenses.
The Importance of Evidence
Strong documentation is necessary when pursuing a claim. Expedited truckers must provide evidence of the other party's liability to avoid claim denials from at-fault insurance companies. Skilled legal representation can boost your case. Additionally, clear documentation of all damages, including lost time and income, as well as any additional expenses like rental vehicles and towing, is needed for a successful claim.
Preventing Future Incidents
Beyond pursuing claims for lost income, expedited truckers must prioritize accident prevention to minimize downtime. Equipping every unit with functional dash cameras and ensuring drivers are well-trained in accident response protocols are incredibly important steps in this endeavor.
Conclusion: Recovery Options
Downtime resulting from accidents poses a significant threat to the profitability of expedited trucking operations. However, when accidents are not the fault of your drivers, avenues for recovery exist. Pursuing claims against at-fault parties can provide compensation without risking increased premiums. By adding preventative measures and quickly addressing accidents, expedited truckers can protect their profits and ensure the continued success of their businesses.
A skilled legal team may be invaluable when pursuing a business interruption claim. Ask an experienced attorney to help navigate the claims process and ensure you receive the compensation you deserve. For any questions regarding downtime claims, contact Eckert & Associates, P.A. at (904) 278-7688. We will be happy to assist you with your claim.
The information provided in this article is general in nature and is not intended to be legal advice.