insurance companies

Discussion in 'Expediter and Hot Shot Trucking Forum' started by Ginger Duck, Jan 23, 2015.

  1. Ginger Duck

    Ginger Duck Bobtail Member

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    Jan 23, 2015
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    Hello everyone, im not sure if anyone can help me with this but here it goes. I have just about done every bit of paper work that i know i need to do to legally cover myself for pretty much everything, at least i think i have. i still have to file for a dot #. That said, im still shopping for commercial cargo insurance. I have only been able to get a qoute from Progressive(extremely high from what im told). I have a single pickup and 10k single car trailer right now with hopes of growing to larger equipment later on down the road. What are some recommendation for commercial insurance? Any help is appreciated. Thank You
     
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  3. G/MAN

    G/MAN Road Train Member

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    I don't see how you can make money hauling a single car. You should be able to haul at least 3 or 4 cars. Insurance is very expensive, especially starting out. If I were you I would find an agent who writes for a number of insurance companies and have the shop your business. Northland, Lancer, Travelers are a few that write commercial truck insurance. Northland doesn't did not use to insure startups, but it never hurts to check. Check with McGriff Siebels or American Insurance Brokers. Both represent a number of insurance companies.
     
  4. wedge542

    wedge542 Light Load Member

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    gonna be hard with one car haul, rates today from 50cpm to a buck, too many doing it so min haul 3 at a time to make money,- i called i guess 50 ins co around the country for wks, all said and done prog ins but had to pay 6mnths at a time hotshot i guess makes it little harder, i do flatbed myself but if last resort can haul 2 at a time. Listen out for radius coverages or cover you inside a certain mile radius like 500, you might need more miles.
     
  5. Mditty76

    Mditty76 Bobtail Member

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    Jan 30, 2015
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    I'm also looking for a truck ins carrier to get quotes fir doing rv transport
     
  6. dstraight12

    dstraight12 Bobtail Member

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    Feb 16, 2015
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    There are several companies that will consider Hot Shot Services but there are tons of questions to get rates. The more information in the more reliable the quotes you get will be. If anyone can give you a quickie quote it's an easy bet they don't know what they are doing or they quoted it incorrectly using assumed information - bad for you - bad for the carrier. You need adequate liability, commercial auto, trailer, and cargo coverage. Most of the companies you will haul for will have their own set of required limits on the cargo. They will need to know your normal radius of operation whether it be local, state, nationwide. Do you use your tow vehicle for business only or personal use as well - if you use it for personal use at anytime many carriers will do an automatic decline. Make sure ALL of your drivers are listed and rated for, make sure your cargo coverage is sufficient to cover the most expensive unit you might tow and that you meet all the requirements for additional insured or hold harmless agreements are factored in. What type cargo do you normally transport - if you haul oilfield equipment, do you go to the rig site, are you a 24 hour operation, years of experience, prior insurance, and your driving record all play a critical part in where you can get coverage and the cost. No shortcuts - make sure you know what data is being provided to get the quotes match the information you provided. If you get quick quote it's likely not correct - these types of policies take time to get quoted because they are not mainstream and not every commercial carrier wants the business - the words Hot Shot makes carriers run backwards so give yourself plenty of time to get rates - it's not a fast process if done right.
     
  7. dstraight12

    dstraight12 Bobtail Member

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    Feb 16, 2015
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    Progressive is one of the best for coverage options and pricing but here's a very important factor - they will not pay a claim unless you have something in writing signed by the shipper that they nor the recepient carry physical damage coverage on the RV being towed. If you don't have it there is no coverage. You can use a Bill of Lading with that in the special provisions but be sure the shipper answers the question and signs off on it before you hook on to tow. You have to have either blanket coverage or do coverage on a one by one basis which would be a bookkeeping nightmare to cover anything being towed that is not loaded on a trailer which when hauling 5th wheel or bumper pull recreational vehicles you would be pulling rather than hauling on a trailer. Cargo coverage will not cover these vehicles when being pulled unless they are hauled on a trailer. Also make sure if you go with the flat amount of blanket coverage it is sufficient to cover the most expensive rig you might haul.
     
  8. dstraight12

    dstraight12 Bobtail Member

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    Be very, very diligent when purchasing General Liability and cargo coverage when hauling RV's. Progressive is a great company for this type risk but you only get what you specifically ask for. Cargo coverage will not cover an RV that is being pulled rather than towed on a trailer. You must have an endorsement for non-specific trailer since you will be hauling several at various times. If you do it one by one you will drive yourself nuts and the bookkeeping involved would be a nightmare. You also must have a written form signed by the shipper that they nor the receiving entity carry physical damage coverage on the unit. If you don't have it and you have a loss you won't get coverage. A simple way to do it is to use a Bill of Lading and add that into the special remarks section. Each and every shipment must have this document before you hook on because from that moment on it's your responsibility. Make sure your coverage limit is the highest dollar amount of the value of any trailer you might have to haul. On Progressive policies whatever your cargo limit of coverage is - is the limit regardless of whether your load is all from one shipper or multiple shippers so don't exceed the limit thinking you have that amount per shipper, you don't with Progressive.
     
  9. dstraight12

    dstraight12 Bobtail Member

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    Cargo coverage does not cover RV's being towed via 5th wheel hitch or bumper pull, only if they are on your covered trailer. If you are towing you must have unidentified trailer coverage up to whatever limit you need, and see my post below for additional requirements that apply when hauling RV's...it's a whole different ballgame than regular cargo.
     
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