What is a Loss Run Report? A Trucking Insurance Guide
A loss run report is an official claims history document issued by your insurance carrier listing every claim filed on your policy over a defined period โ typically 3 to 5 years. It shows claim dates, types, amounts paid, amounts reserved (estimated future payments), and whether each claim is open or closed. Trucking insurers use loss runs as one of the primary tools to evaluate risk and set premiums when you apply for coverage or switch carriers.
What Is a Loss Run Report?
Think of a loss run as a credit report for your insurance history. Just as a credit report shows your financial reliability, a loss run shows your claims reliability โ how often you’ve filed claims, how large those claims were, and whether any are still open (unresolved).
A typical loss run includes:
- Policy number and policy period
- Date of each loss (claim)
- Type of claim (auto liability, cargo, physical damage, etc.)
- Amount paid to date
- Reserves (estimated future payments on open claims)
- Open or closed status
- Brief description of the loss
- Loss ratio (total claims paid รท total premium)
According to Nazar Mamaev, trucking insurance specialist at Full Coverage LLC, “Loss runs are the first thing underwriters ask for on any commercial trucking account. A clean loss run โ or a loss run showing claims but a downward trend โ tells a story of a well-managed operation. High-frequency or high-severity claims will cost you at renewal, or get you non-renewed entirely.”
Why Do Trucking Insurers Require Loss Runs?
Loss runs allow underwriters to assess whether you’re a good risk before offering coverage or setting a premium. Key things they look for:
- Frequency: How many claims per year? Multiple small claims often indicate poor risk management.
- Severity: How large are individual claims? One $500,000 claim is more concerning than ten $5,000 claims.
- Open claims: Unresolved claims have unknown total cost and make underwriters cautious.
- Trend: Are claims increasing or decreasing year over year?
- Loss ratio: Did the insurer pay out more than they collected in premium? A loss ratio over 70โ80% typically results in non-renewal or significant rate increases.
How to Request a Loss Run Report
You are legally entitled to your claims history as the named insured. To request loss runs:
- Contact your current or previous carrier directly (or ask your broker to request on your behalf)
- Submit a written request via email or letter identifying your policy number and the years requested
- Most carriers respond within 10 business days; some have online portals for instant access
- Request loss runs in advance of your renewal (at least 60โ90 days early) so you have time to shop
How Loss Runs Affect Your Trucking Insurance Rates
Clean loss runs (no claims or very few small claims) are among the most powerful factors for keeping premiums low. Conversely:
- One large at-fault accident can increase renewal premiums 20โ40%
- Multiple claims in a year often trigger non-renewal from standard carriers
- An open large claim (reserve still set) makes you harder to place until it closes
- A loss ratio above 100% (insurer paid out more than they collected) almost guarantees a significant rate increase
Frequently Asked Questions About Loss Run Reports
What is a loss run report in trucking insurance?
A loss run is an official claims history showing every claim filed on your policy โ dates, types, amounts paid, reserves, and open/closed status. Insurers use it to evaluate risk at renewal or when you apply for new coverage.
How do I get a loss run report for my trucking insurance?
Request it directly from your carrier via written request, or have your broker request it on your behalf. You’re entitled to it as the named insured. Allow up to 10 business days.
How many years of loss runs do trucking insurers require?
Standard underwriting requires 3โ5 years. Five years is the norm for most commercial trucking accounts. Have them ready before you start shopping for new coverage.
Get Help With Your Trucking Insurance History
Challenged loss runs? High claims history making it hard to find coverage? Full Coverage Insurance specializes in placing trucking accounts with difficult loss histories. Get a quote at myfullcoverage.com or call 317-427-5599.