epa clean up ins coverage

Discussion in 'Ask An Owner Operator' started by mikec265, Aug 7, 2013.

  1. mikec265

    mikec265 Medium Load Member

    379
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    Oct 25, 2009
    Dumbed Down Land, WTF
    0
    this is pertaining to non haz tankers mainly as i am trying to get all my ducks lined up in a row to go independent.

    1-What are you paying for epa clean up coverage?

    2-what is the additional cost of hazmat ins?

    3-what insurance companies are the best to work with on these insurances?

    OOIDA told me they do not cover hazmat. i dont need hazmat but would like to entertain and justify the cost of ins for it.
    they also do not offer epa clean up coverage if i spill say a whole tanker full of cooking oil which is not placarded. ooida said primary liability and cargo would add about $500-600 per month to my current costs as a leased o/o. does that sound like a fair price?

    really the epa clean up insurance is my main concern right now. Thanks
     
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  3. 379exhd

    379exhd Road Train Member

    2,925
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    Jun 25, 2012
    rolling through hell
    0
    I cannot speak for the EPA cleanup coverage, but I can speak for carrying $5,000,000 in liability for hazmat. For me with hazmat rates it IS NOT worth it. Not to mention the hoops you have to jump through to haul hazmat. I would say if you ever did decide to go the hazmat tanker route to lease on someplace and let them deal with the headache of insurance, and compliance. My premium increase for the 5,000,000 in liability was over double and freight rates for hazmat that I had seen were only a little better than non hazmat. Tanker could possibly be different when it comes to hauling gas, diesel, or anhydrus i know i spelled that wrong. I know a guy that's looking for O/O's pulling hazmat tank if you would ever be interested in that you can P.M. me. Also he may be willing to give you more information about what he pays for his insurance for EPA cleanup and what not.

    For your 500-600/month increase that begs the question as to what you're being charged as a leased O/O for insurance. If you're already paying $500/month as a leased O/O and it's going to increase another $500/month that'd put you at almost $12000/year for insurance which is flat out ridiculous unless you have a horrible driving record or you're young. I'm young, inexperienced, and I have horrible premiums with a clean 5 year record. High insurance does put a strain on things at times as well.
     
    mikec265 Thanks this.
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