Insurance Standard and Prices

I know it's 50% cheaper more or less once you begin your second year. I was quoted 10 to 10.5K for first year with new MC number, dry van, general freight, squeaky clean driving record, little over 5 years in big trucks.
Some other guy told me 13K.
I think progressive is very expensive for all types of insurance. They say they can save you $500 year on auto, but I only pay $275 a year for my F350, 4x4 at that. ( State Farm )
Shop til you drop.

 

My first year in business I had to pay a hefty sum also, 1996. I pay less now for 3 trucks & 3 trailers than I did for 1 truck by itself.

 

The last time I renewed my insurance, my agent told me he was seeing first year carriers paying an average of $16,000/year. And, yes you are getting screwed at $21,000. In fact, about every time I renew my insurance I feel the insurance company is trying to screw me. Still, I have a lower rate than most, according to my agent.

 

The first thing you should do is leave the term "hotshot" out of the conversation when talking with your insurance agent/company. And if they use the term ,tell them that's not what you are, tell them your just a run of the mill over the road LTL carrier.

When they hear Hotshot they automatically think expedited and off road deliveries and use that to increase your rate.

With a clean driving record, and since you've been holding a CDL for 5 years, your rate should be in the $7,000.00 to $8,000.00 a year range as a new start up.

Call another insurance agent/company.

 

I dont know how they came up with that crazy number. My first year i paid $7800 for unlimited mileage with truck and trailer valued at $55,000. I also had a clean cdl and a good credit rating.