It’s a simple fact of accounting that profits are generated after expenses are deducted from revenue. To improve your cash flow, it would be great to generate more revenue. However, in this economy, owner operators and contracted truckers may be faced with less opportunity for revenue. So, the wise strategy is to reduce your expenses. One expense to consider is insurance premiums. But you want to be certain that cutting your premiums doesn’t end up hurting your business. To arrive at the right balance, take a look at the following: changes in your business operations, your equipment and its depreciation, your deductible, ways to consolidate providers or ways to find discounts with providers.

Business Operations – One way to lower your premiums is, when the way you operate your business changes, contact your insurance agent and give him or her the details. Coverage costs can change if for example, the type of freight you haul or the type of trailer you use changes. You may be able to save money with a different type of coverage.

Equipment & Depreciation – Your truck may be the single most expensive item you have, but even its value depreciates over time. If it has been a year or more since the value of your truck was assessed, speak to your insurance agent. You may have the opportunity to reduce your physical damage premium. Be careful as well because over-estimating the value of your truck may actually work against you. If you are in an accident where your vehicle is totaled, insurance providers typically pay the lower of the actual cash value versus the stated value.

Deductible - Talk with an insurance agent about raising your deductible, but do so only if you can pay that deductible in the event of a claim. If you are an independent owner/operator, you might also consider combining damage and cargo deductibles or including related costs such as legal fees or lost wages due to downtime. When you talk to an insurance agent about covering these business expenses, be sure you will still have the coverage you need even if you shoulder more of the out-of-pocket costs.

Consolidate and Discount – If you are currently using multiple trucking insurance companies for different trucking related policies, consider combining policies with one insurer. You might be able to save money with a single truck insurance company that offers discounts for multiple types of coverage. You could also simply ASK your trucking insurance provider what discounts they offer. For example, do they provide for safe driver discounts? Do they have age-related discounts available? Might they offer a flexible payment plan to cover your insurance premium instead of paying the entire amount at once or up front? You would be surprised how many trucking insurance providers are willing to work with you to get your business. It is a win-win situation for you and the insurance company!

It can be tough to generate income in this economy, but by using these simple tips, you may be able to lower your expenses. Less money coming out of your pocket means more money for you. A reputable commercial trucking insurance company will work with you to provide the coverage you need at the price you can afford.

It is no secret that your health has a direct impact on the amount and quality of work you do. If you are the operator of a commercial truck or any driver who relies on his or her vehicle as a main source of income, you literally cannot afford to be unhealthy. For you, being healthy means being able to safely drive all the hours it takes to make a living. Also, if you consider that some commercial truck insurance providers offer discounts to low risk, healthy drivers, staying healthy can mean more money in your pocket. In addition, if you can stay alert and healthy while driving those long hours, you will be less likely to be involved in an accident. Fewer accidents means lower risk and could help you to lower your insurance premiums.

Exercises for Truck Drivers

One way to stay healthy is to exercise. But, if you are behind the wheel for multiple hours each day, how do you find the time to exercise? Believe it or not, there are some simple exercises that you can do while sitting behind the wheel. These exercises, done consistently over time, will positively impact your health. Try a few of the following exercises for truck drivers the next time you are behind the wheel and see how much better you start to feel!

Wrist Stretch – Extend your arm and the fingers of one hand against the steering wheel. Gently press your fingers against the wheel and hold for 10-15 seconds. Repeat with your other hand. This exercise, along with the next one, can help loosen your wrist and minimize problems like carpal tunnel.

Fist Flex – Make a fist with one hand, and with your thumb facing upward, anchor your elbow on the center console or your seat. Slowly stretch the fist first to the right and then to the left. The action is similar to holding on to a flag and waving it back and forth with your hand. Do these movements 5-10 times. Repeat the movement with the other hand. You can also hold your arm out to the side and make slow circles with your wrist, keeping your hands in closed fists. Make circles in both directions.

Neck Stretch – Sitting with your head upright, slowly lean your head to the right as far as is comfortable. Hold the position for a few seconds, then lean your head slowly to the left and hold. When you are at a traffic light, lean your head forward and hold for a few seconds, then slowly lean your head back and hold. Do this 10 times. This exercise reduces tension in the muscles of your neck and head.

Shoulder Shrug – To combat fatigue in your upper arms and shoulders, do this simple exercise: With your hands comfortably on the steering wheel, raise just your shoulders to try and touch your ears. The motion is similar to shrugging “I don’t know” Hold the shrug for a few seconds and slowly release down. Do this exercises 10 – 20 times. This is an excellent exercise to reduce the stress in your shoulders

Ab Crunch – You will need a small pillow or some type of lumbar support on your lower back to get the most benefit from this exercise. At every traffic light or during every favorite song or news report on the radio, squeeze in your abdominal muscles and hold for the length of the traffic light or radio song/news report. You should be holding in the abdominal muscles for at least a minute or two each time (the more minutes, the better). After a long trip, you will really begin to feel the benefits of this exercise if you do it consistently. Remember, a spare tire looks best on your truck not on you!