According to the report, liability insurance costs for motor carriers increased nearly 19% between 2021 and 2024. Average insurance expenses reached 10.2 cents per mile during that time.
Researchers said insurance costs continued rising even though heavy-duty truck crash rates slightly declined.
The report found that higher claim costs and large lawsuit payouts are putting more financial pressure on trucking companies.
ATRI also studied how fleets are trying to lower risk and reduce insurance expenses. Many carriers are investing in safety technology and changing their insurance strategies to manage rising costs.
Industry experts say insurance availability and lawsuit risks remain major concerns for trucking companies in today’s freight market.