insurance questions

Discussion in 'Ask An Owner Operator' started by anthony00783, Sep 15, 2014.

  1. anthony00783

    anthony00783 Bobtail Member

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    Sep 15, 2014
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    Hey everyone I am new here n new to trucking loved it my whole life but just got behind a wheel recently my question is what Is the average insurance down payment for the tractor and auto transport trailer I'm making a business plan n just gathering my start up costs any help would b appreciated thanks y'all.
     
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  3. jbatmick

    jbatmick Road Train Member

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    hastings, Fl
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    With no experience, it will not be cheap, IF you can get it.:smt102
    Your best bet is to start contacting insurance agents who specialize in writing truck policies in the state you will be running out of.
    There are many, many variables that figure into obtaining an insurance quote.:sign7: Experience, location, area you run in, price of truck, amount of liability you need, amount of cargo you want, possibly your credit score, type of truck, the list is long.
    There is no way to answer your question with any degree of accuracy, only an agent can do that:evil3:.Call several. Good luck.
     
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  4. G/MAN

    G/MAN Road Train Member

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    I was talking to my insurance agent recently and he told me the average rate for new authorities is $10-12,000. Hauling auto's will usually run higher than general freight. Unless you pull a hotshot, you will usually need at least $250,000 cargo. Down payments usually run about 20-25%. It is usually difficult to find insurance without at least 1-2 years experience. You need to contact some insurance companies and get rates. They can tell you about the down payment and whatever else you need to know.
     
  5. versustrdr

    versustrdr Bobtail Member

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    Aug 7, 2014
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    $2500 average down payment, from my experience.
     
  6. rank

    rank Road Train Member

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    Feb 11, 2010
    50 miles north of Rochester, NY
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    Around here, I bet it would be $15,000 - $25,000 with a high risk insurer such as Northbrige for all the coverages and 2,000,000 liability. We paid $14,000/truck with Markell (now Northbridge) for years and we were experienced with no claims. Then we found Old Republic and rates dropped to $7,000 for the last 3-4 years but you have to have a halo to get in with them.

    Note that this is for a carrier not an o/o.
     
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