Question on truck insurance

Just signed the paperwork on renewing the insurance coverage for the year and decided to take a small gamble and get cargo at $250k for the year vs the $100k in coverage last year. Anyone go this route and make out in the positive for it? Attempting this year to possibly get a few of the High Value Loads that occasionally come up ( Pharmaceuticals, Electronics, etc.... ) The price difference was about $900 more for the increase in cargo coverage. Liability, Physical Damage ( on 32k / 1 truck / 2 Dry Vans ), Cargo at 250k, General Liability, and HNOA was all in at $5800 out of Atlanta, GA so overall cannot complain too much. At any rate if anybody has had any luck getting a little bit higher paying loads due to having the increased coverage or not - please let me know. Thanks!

 

Landstar will not accept their insurance and they will not insure a driver while in Canada. If you don't pull for Landstar or go into Canada check them out, otherwise forget them.

 

It is more than LS. I have one company that I work direct with that lists three companies, OOIDA being one, and then requires a certain rating. Several other brokers would not take them when I was comparing insurance and checking things out.

But besides all that the rates are very high for an unrated insurance company.

But love most of what they do including drug testing program.

 

Does anyone know the average cost of truck insurance in texas ?

 

I am in texas and for the legal minimum on a new driver and horrible record (3speeding tickets in the last year) My down payment was 1300 and my monthly payments are 800 when I up the insurance to the 1mil and 100k cargo it will be 970 per month. Now do keep in mind that this is with a truck valued at around 10k and unowned trailer insurance of like 1-5k cant remember which. This insurance is through progressive and in texas they do not have a milage limit in thier policies. This does not include "comp and collision" as I paid cash for my truck and do not need it. That should get you in the ballpark though.

 

OMFG and here I thought my $4k/yr was too much!

Can you make any money with a bill like that? wow...

 

No kidding. That's waaaaay too high for me!

 

Well my personal expenses are next to nil so I don't pay myself very much right now. Once we have a little cash reserve and the insurance comes down I might up my wage. My operating costs are about 1.75 a mile so I don't really run for less than 2 it works out ok. Now if stiff on the truck will quit breaking lol.

 

Yea, I went through that in 2010 and 1/2 of 2011. Fix one thing, something else breaks. Then the dreaded calls from KW..

"Hey JD, we got some good news and some bad news..."

..that got old.

I'm glad to hear things are going OK for ya. You really need to keep working on finding a better rate for insurance. I just changed companies (effective 9/1/2011) and saved a ton of money. GWC would not take me until I had more time under my MC...but once your in, its 'GO TIME'. They wanted 3 yrs but accepted 2yrs with no losses and 100% clean MVR and perhaps an underwriter in a good mood that day. (Maybe?)

I have been with Progressive for 2yrs and they have treated me fine but just dont have the extras that I like...

 

Yeah seems like every tome we haul a load something breaks lol. But things are looking better.