If you are in the trucking carrier business, you already know that the business environment is tough. Cut throat competition, tight pricing, fuel cost rising and oh, those annoying new regulations. Your industry isn’t alone.
Every industry is having these same problems. Changing technology and landscape makes it doubly hard to keep up.
It might sound counter intuitive, but the only way to combat these issues is through investment, putting more money into technologies that can help you manage expenses and lower costs. Over the years carriers have installed an array of technologies to cut costs. From mud flaps to wind screens, GPS to onboard generators. Truckers have tried to squeeze every inefficient dollar from expenses.
The latest innovation is the onboard monitoring systems, that track everything from gas mile, to acceleration and braking. These might seem intrusive to drivers, but to the carrier it can save time, fuel and money, lots of money. These systems also promote safe driving, giving real-time feedback on safe and no so safe driving habits.
That brings us to the latest innovation to hit the trucking market, Pay as you go carrier insurance. Up to now, if a trucker wanted to hit the road they would have to pony up with 10’s or thousands of dollars to buy insurance. Not unlike consumers, only on a much bigger scale. Paying $10, $20, even $50,000 can sure strain the budget of a small trucker. It could also put them in significant debt just to pay their insurance.
There is now an answer to this problem, Pay as you go insurance. Instead of paying for insurance all upfront or in large 3 or 4 payments, pay your insurance out of each delivered load. This is the brainchild of CarrierHQ in concert with AON insurance. Why pay your insurance in thousands when you can pay it in tens of dollars?
Here’s how it works. Sign up online for insurance, get your quote, then elect pay as you go. This service does require that you sign up to factor invoices. The factor, in this case, CarrierHQ partner, AeroFund Financial, will take a predetermined amount out of each invoice you submit. Those deductions will be sent to AON to pay your insurance premium. It’s that simple. Better yet, the safer you drive, the lower your deductions on each invoice. Those thousands you save can now go into your pocket, or reinvested back into new technologies to expand. And can you expand. Not having to pay thousands upfront for insurance each time you add a truck means there is unlimited possibilities for your company.
If you or someone you know is looking to put more money in the bank and more trucks on the road. Take a minute, give AeroFund Financial a call. We make cash flow… well, flow.