Insurance quote, is that WAY too much?

Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by DriverLLC, Jul 21, 2014.

  1. DriverLLC

    DriverLLC Bobtail Member

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    I am looking for 1 million liability and 250k cargo. My agent called me today and said that the lowest quote he could get will be around $12,000/year, which is $1,000/month with $1,000 deductible. I have over 5 years of experience with clean record. The radius will be 200 miles. Does this number seems right to you? The quote was given by Progressive, but they don't do more than 100k cargo so the agent had to find another company who will cover the additional coverage I need. How much do you pay for insurance and which company do you use?
    Thanks
     
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  3. baha

    baha Road Train Member

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    TRy another CO. or info. collected from OOIDA or other trucker groups could get a muck lower rate like 3,800 per yr. seems right?
     
  4. Cat sdp

    Cat sdp . .

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    Everyone is saying progressive is jacking rates.... Shop around .
     
  5. MOBee

    MOBee Road Train Member

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    My first phone call would be to OOIDA, my second to compare would be to Sentry.
     
  6. DriverLLC

    DriverLLC Bobtail Member

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    On this forum drivers are saying that a lot of brokers won't give loads to drivers with OOIDA. It might be cheaper, but is that worth the risk?
     
  7. fuzzeymateo

    fuzzeymateo Heavy Load Member

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    Progressive is usually one of the cheaper ones from my research.......Is this a new business venture? If it is then your experience doesn't matter and OOIDA does not insure new business ventures. This quote sounds about right to me unless you have years of experience as an O/O.
     
  8. bad-luck

    bad-luck Road Train Member

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    Progressive has about the highest rates. Shop around. Generally your looking at about $10k a year. Only thing you didn't mention was your down payment was it is usually 20%.
     
  9. DriverLLC

    DriverLLC Bobtail Member

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    Yes, it is a new business.
     
  10. DriverLLC

    DriverLLC Bobtail Member

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    Yep, down payment is 20%. I will talk to another agent and see if he can find something cheaper. Thanks
     
  11. betochas

    betochas Light Load Member

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    My policy was roughly $10k. New venture, through Hallmark/Cannopius
    Progressive wanted $25k!!!!!
    Please shop around.
     
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