Is Stress Harming Your Memory? How to Cope With Daily Triggers
WHAT YOUR NEW VENTURE TRUCKING COMPANY NEEDS TO KNOW ABOUT INSURANCE
One of our practice areas of law is transportation and trucking legal matters. For those who are considering starting their own trucking company, navigating insurance can be particularly daunting. Even if you don’t own a trucking company yourself, you may want to read this to be aware of what insurances the trucking company you work with should have. Unfortunately, some don’t carry these basic necessities, which can cost everyone time and money. NO. 1: GET A LIABILITY POLICY OF A MINIMUM OF $1 MILLION. The mandatory minimum liability coverage is $750,000 (although it can fluctuate based on whether the freight being hauled is hazardous in nature, which can be upward of $5 million). Any lower, and you’re not allowed to operate. At face value, $750,000 can sound like a lot of money, but in the event of an accident, especially one involving eighteen wheelers or multiple parties, that coverage can evaporate fast. It’s critical that you give yourself at least a $250,000 buffer. In fact, $1 million is the average cost for losses involving fatalities, but this number can climb to $3 million when you factor in property damages, funeral costs, pain and suffering compensation, attorney fees, and more. The right amount of liability insurance will not only protect your business’s reputation but also your livelihood.
Stress can cause more than just a bad mood and low energy. Over time, mental exhaustion from stress can lead to forgetfulness and reduced cognition. This can hamper your ability to do your job and enjoy life. Though stress is unavoidable, there are steps you can take to mitigate some of the negative effects of mental exhaustion, including forgetfulness. First, consider the source of your stress. These days, a common stressor is social media. If your feeds are full of bad news and negativity, shut them down. Many researchers suggest that spending less time on the internet leads to better health. Several studies have found that constant internet use, including time spent on social media, is negatively impacting our memories. Research from Harvard, Oxford, King’s College London, and Western Sydney University all confirm this: Too much internet use is a bad thing. Of course, it can be easier to delete a social media app than it is to eliminate other types of stressors. Coping with a stressful coworker, for example, can be difficult. You have to figure out why they’re causing you stress and how the situation can be remedied. Dealing with a work- related confrontation can be hard, but having that difficult conversation and resolving the problem can ultimately lead to less long-term stress and improve your mental health. Another thing you can do to reduce stress is avoid multitasking. Taking on multiple projects or doing too much in too little time can leave you feeling overworked. Plus, studies have found that multitasking is not effective. You cannot deliver the same results when your attention is scattered as you can when you are focused on one thing. To make matters worse, multitasking takes a major toll on memory and cognition, according to a study from Proceedings of the National Academy of Sciences. If stress is impairing your memory, judgment, or cognition, take the above steps to reduce it. If you find your memory and cognition aren’t improving, consider speaking with a mental health professional to discuss your best next steps. Mental health and stress management are important, and the more we do to improve these areas of our lives, the healthier and happier we will be.
NO. 2: GET MOTOR TRUCK CARGO (MTC) AND COMPREHENSIVE AND COLLISION COVERAGE.
There are two more types of insurance you should keep in mind. MTC insurance will ensure that your customer will be paid out the cost of replacing their goods in the event of a trucking accident. The minimum coverage for this should be $100,000. Comprehensive and collision coverage, also called Phys Dam coverage, will cover your truck and/or trailer for the appraised value at the time of your claim should an accident happen or even while parked in a lot. As mentioned, the coverage varies depending on your appraised value. NO. 3: GET USED TO PAYING INSURANCE PREMIUMS. Nobody wants to give insurance companies money, and we couldn’t agree with you more. But, even if the costs surprise you, the right insurance coverage can be your best friend in the future (although we wish that wasn't the case).
We hope this helps you and your company thrive. Safe trucking out there!
2 REARDONANDERSON.COM
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