3 min read

Bringing Humanity to Insurance

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If you want to put someone to sleep, tell them you sell insurance. 

While that may be a bit of an oversimplification, it does seem like insurance is one of those things that doesn’t get people excited. They’re not buying it because they want it; they’re buying it because they have to have it. It’s a necessary evil. 

But just because insurance may not be the most exciting thing on earth doesn’t mean it can’t be interesting. 

On this episode of The Road Forward, we sit down with Cameron Pechia. Cameron is the Founder of Valley Trucking Insurance, as well as the host of the Get a Load of This Trucking Podcast. He’s here to discuss: 

  • Why insurance rates seem to be soaring
  • How his company is doing insurance differently than most everybody else
  • Where his passion for trucking came from

 

Why insurance rates seem to be soaring

Everyone needs insurance — That’s a given. But the rate at which you might get that insurance could come down to the specific employee you talk to within a company. But be warned: A lower rate doesn’t always mean full coverage. 

If a trucker is shopping around for the best insurance rate and finally comes across a deal that seems too good to be true, it probably is. While truck driving might seem simple, driving a commodity from point A to point B, if your insurance rep isn’t aware of the complexities, you might end up footing the bill when claim time comes.

Cameron shares two points of interest that a rep should be aware of when it comes to trucking:

  1. Contracts that carriers are involved with.
  2. UIIA insurance requirements

But the list goes on…

“There are a lot of people that are not adequately protected at the moment. They’re going to have a huge surprise come claim time.”

– Cameron Pechia

Because of this, the need for reps to truly understand trucking so that they can offer appropriate coverage has become crucial.

 

Why rates are rising

While the problem of insurance reps underselling rates needs to be fixed, there’s no question as to why it’s happening in the first place — Rates everywhere are skyrocketing, truckers and other drivers alike.

But why? Cameron shares a few reasons:

  1. COVID-19 pandemic: As more people return to the roadway after the lockdowns, this means more drivers and more risk.
  2. Distracted driving: People everywhere have their face down looking at their phone while driving, leading to an increase in danger.
  3. Cost of Repairs: Because the availability of parts and equipment has slowed due to shipping, the cost goes up.

 

How his company is doing insurance differently than most everybody else

So, what can be done to combat the rising rates? For Cameron and his company, it’s about more than finding a quote and executing on the insurance policy for the driver.

Cameron’s process starts with listening to what the goals are of the trucking company and how he can help them accomplish them. Once that’s understood, the team comes on-site to bring safety and compliance — Looking for anything that needs to be corrected by the trucking company.

While this pulls the conversation away from price for a little while, making sure that there’s nothing at risk early on will keep the trucking company from having to pay twice the insurance rate later on if they find themselves in an accident.

“I want to give power to the client. To educate them, review their situation, talk over their goals, and what they want to achieve and accomplish.” – Cameron Pechia

Once this is all done, the trucking company is given the decision whether to buy or not buy. Either way, they will be educated on the outcome of either decision.

 

Where his passion for trucking came from

Cameron has helped a lot of people with his approach to insurance. But where did this passion stem from? As a kid, he credits his early interest to watching his aunt and uncle team drive.

Seeing them tinker around the shop, leave for a while, and come back happy, left a lasting impression on Cameron that continued into adulthood. What keeps his passion going now is the feeling of being surrounded by his people. He hates the idea of sitting in an ivory tower and this is a way to avoid that forever.


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