An analysis documented the five most common reasons insurance carriers cancel commercial trucking and towing policies: excessive claims frequency, safety violations, failure to maintain equipment, non-payment of premiums, and material misrepresentation on applications, according to CNS Insurance. The guide recommended proactive risk management to prevent non-renewal.
Operator takeaway
If your carrier cancels you, finding replacement coverage in a shrinking market is exponentially harder — address the five cancellation triggers before your carrier makes the decision for you.