Honey, call the airline and check on tickets to Kentucky before it’s too late – or not. We could drive this year if you want to do some sightseeing along the way. We can always stop at our favorite chrome shops and then take in a highway light show at night rollin’ down highway 65. It will be just like old times except for no leaking exhaust and bad radio reception in my old Peterbilt. Breaker, breaker, how about it sweetheart, what do you say… you in?
I’m sure a lot of our readers have had this conversation at some point over the years. March is the start of show and shine season for most of us. If nothing else, it’s the time of year when we start looking forward to warmer weather and dry, not so dusty roads. However, is mud really a better option? The month of March is of course the time when truck people make plans to congregate in Louisville, Kentucky for the annual “Big Event in Transportation” – MATS.
In case you are new to this thing called trucking, that stands for the Mid-America Trucking Show, and it’s the place to see and be seen. Just for the record, 10-4 Magazine will have their display booth there (#11268 in the North Wing) with Dan the Man and his band of merry associates. You never know who might be there handing out 10-4 swag. It’s a great place to possibly meet the people who write the stories and snap those fantastic pics we see each month. It’s also a prime opportunity to purchase a subscription or get the latest shirt, poster, or magazine, while they last.
There really is too much to see in just one visit. It’s a three day affair, so plan to spend some time just wandering around asking yourself, “Why didn’t I think of that?” When it’s said “there is something for everyone” there really is something for all of us. A few wives have told me that their favorite thing is the parking lot on the way out. They expressed concern they might have to ride on top of the hood going home because all the “great deals” their drivers bought. In all honesty I have never seen anyone strapped across the hood like a deer on opening day, but this could be the year. If you do see one, don’t forget to send a picture to 10-4 Magazine, in care of the Veteran’s View. Remember, chrome won’t take you home, but it will make the wife and kids wonder who has to ride in the trunk because the back seat is full of shiny new truck parts.
On a more serious note, there are many great opportunities at the show and industry leaders are available to discuss all topics of transportation and potential concerns regarding future development, equipment maintenance, and regulatory compliance. If you have never taken in one of these trucking trade shows, I recommend doing so. The level of top tier people and leadership personnel in attendance is amazing. From the design engineers to marketing analysis to the people who make transportation move, all will be in town somewhere.
As a side note, if you have an idea for product improvement or questions on how or why something is made the way it is, don’t be afraid to seek out the people who offer those goods and/or services. I have developed lifelong associations with some of these folks, most of which recommend you bring a sketch pad, blueprint, or some other type of plans for change. Trust me, if you find the right person, they will be able to talk “how to” and maybe fix the trouble for future repairs or possible developments. If you’re looking to sell an idea or a new service, there are folks for that, as well, if you have the fortitude to find them.
Each month I try to enlighten our readers on some aspects of transportation. The last few months I’ve touched on expenses, or more importantly, how to curb them. This month, I’m going to bring up a subject that everyone tries to avoid – insurance. More importantly, health and life insurance. Outside of fuel and truck payments, it is one of the costliest expenses we owner operators and/or companies have. Why would that be so important right now? As I’ve said in the past, it’s not the time of year that matters, but the time of your life.
The average truck driver is older than the speed limit on most county roads. In case you don’t know, the speed limit on most two lane county roads here in Michigan is 55 mph, and most drivers are older than 55 years. Many of them are entering this occupation as a second career, which may mean they are not overly experienced and/or subject to rookie mistakes. Did I mention our eyesight isn’t what it was 30 years ago, either? Neither is our balance, so we don’t just weeble when we wobble, sometimes we all fall down.
A simple fall in your twenties can mean a day off work and sore muscles. In your thirties it’s more serious and could even mean a trip to the emergency room, along with pain meds. Do I need to mention how devastating that same fall can be to an even older driver? Nobody wants to think about the cost of recovery for a broken leg or a fractured hip, but these things can happen. Just the cost of transport by ambulance from the accident can be thousands of dollars that are not covered by the truck insurance.
Far too many of you don’t carry a Workman’s Comp policy that covers “on the job” accidents. This may come as a surprise, but I have never had a lease contract that included a comprehensive worker’s comp policy, either. That means you are on the hook for those expenses. But that’s just the start of your misery, wait until the ER (emergency room) bills arrive, not to mention the cost of pain meds. For over the road drivers, what if you can’t return to work that day and your truck/trailer is loaded and/or parked in a shipper’s lot or unsecured parking space? Now what??
Let’s look at this from a practical standpoint. What does an additional policy cost? When I say additional, I mean above the minimum required by some state laws. To my knowledge, there are states that do not require any coverage if you are a 1099 contractor. Yes, there are individual states that have in place some limited requirements, but if you are uncertain, please check your contracts or ask the HR department.
I was at one time leased to a carrier that had a standard (minimal coverage) company policy, but I still carried my own policy through a local company, and upon providing proof of my coverage, I was allowed to continue using it and not charged for the standard company policy. You may ask why that’s important if you are already covered by the company policy. As with anytime you are dealing with an insurance company, there will be negotiated outcomes on usage. I would sure feel more comfortable knowing I had control over my claim and that it wasn’t left in the hands of a temporary office worker to handle.
There are owner operators who are working under their own authority who may have chosen to save a few bucks on the liability policy. In doing so, they may have overlooked the potential for a catastrophic non-work-related injury. My agency offers workman’s comp (work related injuries) as a condition or option. I recommend you consider it instead of some chrome do-dad or bolt on accessory for the truck. However, if you are injured while not performing work related duties (mountain climbing, skiing, bicycle riding, etc.) but also not at your home domicile, in most cases, that will fall under personal health insurance. I don’t know the numbers for certain, but I do know there are far too many drivers who do not have any health insurance, either. If you’re relying on the hospital to treat you and then dismiss the bill, good luck with that.
All this money you think you are saving by not having insurance will come in handy when you’re laid up for six weeks with a broken ankle. That is if you still have it. I’m willing to wager you don’t because you never did in the first place. That means you are probably behind on your operating bills like your truck payment, fuel payment, and any other of last month’s operating expenses you paid out to cover your doctor’s bills. Just think if only you had planned ahead instead of living in the moment. Did you know you could have insured your wages or the loss of them, too? Yes, I believe there comes a point when you are insurance poor, or over-insured – that’s when your costs are greater than the benefits, however, when an accident does actually happen, you really do need to ask yourself, “Am I covered?”
What happens when you have a life threatening or debilitating illness, or someone in your immediate family (spouse, child, parents) is stricken and you need to take time off the road. This may not be covered by insurance, but are you able to park the truck and do what is necessary, or can you cover the cost of concierge services? Did you set aside funds for a rainy day? Ask yourself, seriously, what happens if that person who has taken care of you is the one who needs help? Did you cover them with health insurance, or did you get yourself a fancier truck? I know there is someone out there who is still trying to rationalize upgrading to a new piece of equipment, but if you can trade love, friendship, and dedication for material things, then you probably don’t deserve either.
Lastly, let’s touch on an important aspect of your policy, something no one wants to talk about – life insurance. In the event a driver doesn’t make it home or some other illness shortens their life, are your loved ones protected? We are losing far too many people these days. My hope is to live to be 100 years old and then be shot by a jealous husband. But seriously, as you know, this is a very dangerous occupation we are involved in, and many of us are subject to life-ending illnesses. If the physical strain and poor working conditions weren’t enough, we struggle with poor eating habits, irregular sleep patterns, and continuous exposure to chemicals (like diesel fuel exhaust). Many of these elements can and do cause cancer, diabetes, heart attack or a host of other life-ending diseases.
Have you ever thought about what happens if you are gone? There are things far more important than that old iron you affectionately call a truck. Are you leaving a legacy or a liability? Will your loved ones be able to continue living a comparable lifestyle, or are they headed for the employment office or possibly the soup line? Homelessness is a real thing in this industry. How much of what you worked so hard for will find itself on the auction block to be sold for far less than it is worth, leaving your family or legal guardian responsible for the difference?
This is a shout-out to all of you in a lease purchase program. Most banks and lending institutions will recommend a life insurance policy equivalent to your financial liability (amount of loan or long term lease). This is often part of or an addendum to the terms and conditions of the loan. Why? The lending institutions don’t want the physical asset back, only their money, and with interest. A lease purchase on the other hand didn’t put up any money and they are hoping to get the assets back, plus your equity. Then, to add insult to injury, they will claim reconstruction to original condition and back charge against your escrow. With a life insurance policy equal to or greater than the payoff of all your financial liabilities, you are ensuring that your dependents will be able to buy out the lease and/or satisfy the note, leaving them the asset. This allows them (your beneficiaries) to benefit from your hard work and not the lien holders.
Is this the month when you march on down to see an agent? If you haven’t already done so, today is a good time to readdress your insurance policies to make sure you have proper coverage for your business and your personal effects. With spring looming on the horizon, warm weather will certainly inspire us all to get outdoors and do the things we love to do. My hope is they are not too dangerous or life threatening! If that means shining up your chrome and then polishing those wheels, then by all means, do so. Fix the lights that don’t work, too, so when I see you strolling the highways and byways of this great land, you are on point and pressed out.
Even if you’re not headed out to Louisville or some other truck show, you will know you are doing the job you set out to do, and the people who mean the most to you are going to benefit from your efforts. If you are headed to MATS this year, I wish you the best of success and hope you have a great time meeting old friends and making new ones. It has been my experience over the years that everyone who steps out of their comfort zone and participates in the competition outside is a winner. Not all of them will go home with a big trophy, or even an honorable mention, but the friendships forged, and the experiences gained can never be taken away or broken.
Who knows, your truck might be that “diamond in the rough” that gets photographed by an unknown enthusiast who then shares that photo with someone who knows someone connected to a national magazine. I can’t ensure that a photo of your truck will grace the cover of this publication, but who knows, stranger things have happened. We are always looking for those “diamonds in the rough” among the more famous and well-known show trucks, 10-4!