Liability insurance premiums for motor carriers continued to rise even as heavy-duty truck-involved crash rates declined, according to new research from the American Transportation Research Institute (ATRI).
Insurance Costs Rise Despite Fewer Crashes
From 2021 to 2024, liability insurance premium costs increased by 18.6 percent, reaching 10.2 cents per mile. This growth outpaced consumer inflation by 5.4 percentage points during the same period. ATRI’s report notes that injury crash rates were 15.3 percent lower and fatal crash rates were also down by 2024, following a significant decline after the pandemic.
Industry Response to Rising Premiums
Industry groups and lawsuit abuse critics have pointed to rising settlements and frivolous lawsuits as contributing factors to higher insurance costs. These expenses are being passed along through elevated freight rates and higher prices for consumer goods. Trucking stakeholders continue to examine how legal and regulatory pressures are influencing premium levels across the sector.
ATRI Report Examines Mitigation Strategies
The ATRI report outlines issues and opportunities facing motor carriers regarding insurance costs. It highlights risk management practices and operational strategies that fleets can use to address rising expenses. Driver violations and crash history remain key factors influencing loss performance and premium calculations.