Our trucking insurance renewal came in high. How do we find out why, and what can we change?

A trucking premium is built from a few inputs. When the renewal moves, one or more of these moved:

• Your loss history. Claims paid and open reserves in the last several years. Open claims with large reserves can hurt as much as paid claims.
• Your drivers. New drivers, younger or less experienced drivers, or MVR violations. See what drivers trucking insurance can cover.
• Your safety data. Roadside inspections, out-of-service violations and crashes that FMCSA publishes. See how CSA scores affect truck insurance and what an out-of-service rate is.
• Your exposure. More power units, higher stated values, more miles or revenue, a wider radius, or a new commodity.
• The limits and coverages. A new umbrella, higher cargo limit or added endorsement for a new customer.
• The market for your class of business. Underwriters reprice whole classes when large verdicts and claim costs move. See what a nuclear verdict is.

Only the first five are about you. The last one is not, but it is why shopping or restructuring sometimes helps even when your record is clean.

Line up the expiring policy and the renewal quote side by side. Most of the answer is in the differences.

Your claims information

Under Texas law, on written request a named insured under a commercial auto liability policy can get information on the disposition of claims, including each claimant and the amounts paid, settled or awarded (Tex. Ins. Code §542.101). A policyholder under a property and casualty policy can also request "a list of claims charged against the policy and payments made on each claim" (§542.102). The insurer must provide it in writing "not later than the 30th day after the date the insurer receives the request" (§542.103).

Ask for loss runs in writing the day you see the renewal. Every other market you approach will want them. See what a loss run is.

Notice of material changes

For admitted insurers, a change to a commercial auto policy at renewal that "reduces coverage," "changes conditions of coverage" or "changes the duties of the insured" requires a plain-language written notice, in a conspicuous place, "not later than the 30th day before the renewal date" (Tex. Ins. Code §551.056). That rule is about coverage changes, not price, but it is worth reading the renewal notice for it. A higher deductible or a new exclusion buried in a renewal can matter more than the premium.

Your own safety record

Check your public company snapshot on SAFER and your data on the Safety Measurement System. Carriers can log in to see their own measures and percentiles. If an inspection or crash is listed that should not be, look into correcting it through FMCSA's data review process.

Not every lever fits every fleet, and none of them come with a guaranteed result. These are the ones that tend to matter:

• Fix the exposure data. Remove sold units, correct the radius, correct the mileage or revenue estimate, update garaging.
• Revisit deductibles on physical damage and cargo. Higher deductibles trade premium for retained risk.
• Restructure limits. Some fleets find it more efficient to carry $1,000,000 primary with an umbrella above it than to buy higher primary limits. It depends on the market.
• Driver hiring and MVR standards. Underwriters reward documented hiring criteria and regular MVR checks.
• Safety technology and documentation. See do dashcams lower truck insurance. Video helps most in defending claims, which affects losses over time.
• Market the account. A different underwriter may see your class differently. Give them a complete submission: applications, driver list, unit list, five years of loss runs if you have them, and a short written explanation of any large losses and what changed.

If you are thinking of moving mid-term instead of at renewal, read can you switch truck insurance mid-term first.

1. Request loss runs in writing from every insurer you had in the last several years. The clock is 30 days under Texas law, so start now.
2. Compare the renewal to the expiring policy using the table above. Circle every difference.
3. Ask your agent or the underwriter for the reason for the increase in writing. Ask specifically whether it is losses, drivers, exposure or class rate.
4. Pull your SAFER snapshot and SMS data. Know what an underwriter will see.
5. Correct exposure errors before the renewal binds.
6. Decide on deductibles and limits based on your contracts. Do not cut a limit below what your broker agreements or shipper contracts require.

Need a second set of eyes? A renewal review compares the expiring and renewal terms line by line.