- By Terri Moran
- February 15, 2026
So, your insurance policy for your moving and storage operation is up for renewal. What can you expect? Unfortunately, you can count on commercial auto insurance premiums to go up. Why? The simple answer is that the average claim payment in commercial auto liability increased by 39% between 2019 and 2023.
This spike is due to factors beyond the insurance industry’s control:
- General Inflationary Pressures
- Supply Chain Disruptions
- Higher Tariffs
- Increased Claim Costs
- Litigation and Legal Costs
- More Severe and Higher Frequency of Auto Loss
Additionally, the reinsurance market is having a significant impact on the commercial auto insurance market, particularly due to factors like rising loss costs, social inflation, and increased litigation costs. Reinsurers are tightening terms and reducing capacity, leading to higher premiums and potential coverage restrictions for businesses, especially those with large fleets or poor loss history.
5 Tips for Insurance Renewal Prep
1. Assess your Loss Runs Early
- Order Loss Runs 120 days before policy expiration date. Review any open or outstanding claims that can be reduced or closed with your insurance carrier or adjustor.
- Order Loss Runs again within 90 days of your policy expiration date, once those claims have been closed or reduced.
- If some drivers who had claims are no longer with your firm, inform your broker. For drivers with claims who are still driving for you, be prepared to indicate the training or remediation you have done to prevent reoccurrence.
2. Validate Driver Qualifications
- Prepare an up-to-date driver list including name, date of birth, state of license, and license number.
- Run MVRs on your drivers 100 days before your renewal so there are no surprises involving expired or suspended licenses or expired CDL requirements when presenting the driver list to your carrier.
- Review your FMCSA scores and CAB Report with your insurance agent/broker and be able to review violations or issues that have arisen over the last year. Address these items and their remediation in your renewal packet. Underwriters look at the overall rating, any out-of-service scores, and severe violations. They will match the data contained in the report to the application for insurance, so it is important to keep up with proper reporting of changes in operations, including vehicles and drivers.
Tips for Improving FMCSA Scores
- Review the report and make sure the information is accurate.
- Set up a regular vehicle maintenance program and conduct vehicle inspections weekly to ensure all systems are operational.
- Drivers should conduct pre-trip vehicle inspections.
- Maintain records of inspections and maintenance, and instruct drivers to report any issues immediately.
- Train drivers on violations, especially severe ones. Mobile phone usage is one of the most common severe violations, and distracted driving is a leading cause of accidents.
- This report will also show related entities and when vehicles are being shared. We caution against sharing vehicles, as it can lead to coverage issues.
3. Get Financials in Order
- Obtain an updated financial statement from your CPA or prior year tax return, and address any late payment issues that may appear on credit reports.
- Document total revenue, separating transportation revenue, mileage, and payroll for all operations.
- Address any operational changes, including new shippers, routes, and mileage. Consistent routes and long-term shipper relationships are favorable. Underwriters value Fortune 500 shippers and those with strong payment histories—highlight these if applicable.
- Compile a complete equipment and asset list, along with terminal property details, including COPE (Construction, Occupancy, Protection, Exposure).
4. Document Liability Status
- Document safety protocols, including ELDs and telematics, truck controls, background checks, drug screening (employees and contractors), and cargo theft prevention—especially for high-value goods like firearms, tobacco, electronics, or pharmaceuticals.
- ELD dashboards, GPS tracking, and cab cameras may help improve insurance rates, terms, and conditions.
- Telematics monitors driver behavior in real time, reduces costs, enhances safety, and can lead to lower insurance premiums.
- Gather trailer interchange agreements and legal documents that extend liability to you or your drivers. Be prepared to provide your safety policy, contractor agreements, and lease agreements. Have your broker and attorney review them to ensure coverage aligns with intent.
5. Assess Renewal Application Health
- Schedule a pre-renewal call with your insurance broker to review everything so your application is complete, accurate, and well organized.