Why Truck Insurance Premiums Soar Despite Falling Crash Rates

Key Details Truck insurance costs have climbed nearly 38% between 2015 and 2024, reaching 10.2 cents per mile according to new research from the American Transportation Research Institute. This surge ranks as the trucking industry's third-biggest concern in 2025, behind only the economy and lawsuit abuse. The paradox: crash rates are actually declining. The Disconnect From 2021 through 2024, liability premiums jumped 18.6% while heavy-duty truck crash rates dropped 2.6%. Injury crashes fell over 15% from 2019 peaks, and fatal crashes declined nearly 14%. Yet per-mile liability losses increased 33.1% during the same period, pointing to a troubling trend in claims costs. Why It Matters ATRI identifies litigation, social inflation, and aggressive legal tactics as primary culprits behind rising premiums. Larger jury verdicts and increased plaintiff attorney marketing targeting trucking companies have inflated claim expenses significantly. Commercial auto insurers continue paying out more in claims than they collect in premiums, forcing rates higher. Who Feels It Most Small carriers operating 5 to 25 trucks face the steepest burden, paying nearly double the per-mile rates of larger fleets with 101 to 250 trucks. For smaller operators, insurance consumes nearly 5% of total revenue. Excess coverage layers have skyrocketed even faster, with $5 million to $10 million coverage rising 34% and $10 million to $15 million layers climbing 45%.