The truck driver shortage is a well-documented problem in the United States.
There are currently an estimated 3.5 million truck drivers in the US, but that number is expected to fall to 2.4 million by 2028 due to retirements and other factors. Factors such as the difficulty of being a truck driver or owner operator. Long hours, a lot of paperwork, and many days away from home all impact the availability of drivers.
The supply chain disruption caused by the truck driver shortage is a major problem that needs to be addressed. This shortage has already caused problems for the trucking industry, with some companies having to turn away businesses because they don’t have enough drivers. This shortage is also having an impact on the economy due to supply chain disruption. There are many ways to address this problem, but it needs to be done quickly before it causes even more problems for the economy.
The driver shortage may also impact truck insurance prices. For example, if fewer drivers are available to haul freight, there are fewer trucks on the road. Fewer trucks mean that truck insurance companies have fewer trucking companies to spread risk. This could cause a rise in trucking insurance rates across the board.
What can be done to solve the problem?
- One solution is to attract more people to the profession. This can be done by increasing pay and benefits (such as away-from-home pay, fuel pay, safety, and timeliness bonuses).
- We are making it easier and less expensive to get a job or become an owner-operator with a new CDL. In other words, lowering the barrier to entry will also ease the shortage.
- Another solution is to use technology to make the job easier and more efficient. This could include things like autonomous trucks or semi-autonomous trucks, reducing the need for drivers. However, this is a more long-term solution due to the sheer geographic size of the United States.
Whatever solutions are implemented, it’s clear that the truck driver shortage is a major problem that needs to be addressed. Otherwise, it could have a serious impact on the US economy.
If you’re an owner-operator or small fleet, ensure you get the best truck insurance rates by shopping around and comparing quotes from different companies. At GW Truck Insurance, we work with many different carriers to get you a balance of the best rate and insurance company.
Call us today for a free quote at 1-800-498-7825 or visit our website at www.gwtruckinsurance.com.