Just got my first insurance quote, never thought it would be this high

Just spoke with a broker that was recommended by a friend a couple months ago who has his authority since 2011 after I told him that I expect to pay 18k on my first year, he's been using them for a while and pays close to nothing for coverage thru Scottsdale Insurance Company hauling cars.

They quoted me 45k and said only progressive would underwrite, and that is for a dry box/general freight, no Hazmat. 25k on the truck and 15k on the box. 1 million auto liability and 200k Cargo.

I have been bombarded with calls and texts from insurance agents for the past few days after I got my DOT # promising to get me the lowest rates but I haven't answered anyone yet as I still haven't bought a truck and trailer. one of them texted saying that 1M auto liability and 100k cargo would run me 12k with 2900$ down and 990$/month subject to approval and MVR, but I'm not buying it, no way that can be true.

My LLC is one year old but I just got my DOT and MC #s. a year and a half experience and CDL, 30 years old.
If I don't get anything below 20k I'm gonna have to pull the plug on the whole thing for the time being.

 

That’s rough. Try 100k cargo.

Where are you located? What radius from the barn did you tell them you’d likely run? How many estimated miles?

If you cut your radius down it’ll help a lot.

 

You're not likely to get a quote under 20k starting out. After your first year, your rates will normalize and you can get competitive quotes from more insurance companies. The 10-15k difference over a year isn't actually that much if you planned on turning a profit or paying yourself a decent wage.

 

Try progressive for 1 million liability/100k cargo 500 mile radius, should be 2900-3200 down, 1000-1300/month depending on driving record.
Most freight I been hauling have stayed within the 500 miles anyway.
If I’m offered another, a friend of mine owns 7 trucks and goes all over, I’ll give him a call if it’s worth it, and take no money, but if he gets something he can’t cover he calls me.
I don’t want to go all over anymore and I still run 10 states.

 

I'm gonna try that tomorrow, I'm based out of NJ, told them I'll be running a 700 miles radius but they consider anything over 200 miles long haul.

 

Low 20s would be manageable but 45k ? I'm not willing to slave off for insurance COs

 

I got mine in August. 40yrs old 5yrs experience perfectly clean MVR 500 mile radius dry van in Illinois...almost $22000 with $4000 down so around $1800 a month....

 

I don't go all over either and won't ever do it, started my career at a small operation and rarely do anything over 300 miles.

 

That's not too bad

 

Keep in mind the radius is what you run a majority of the time. If 51% of your miles are within 200 miles then start with that.

Little tricks like this they don’t tell you. Another is it’s also based off bird flight. Aka 250 miles may be 200 miles direct way of airplane/bird.