$4200/month for insurance

That's right, it is because of all the crap that crap owners cause.

 

I'm in my second yr under my own numbers and pay $1100 for cargo and liability. There is more to the story of why it's so high .

 

He said a false claim but carrier is guilty until proven innocent until resolved. That would SUCK!

 

Doubt I'll be complaining about my 750/month any time soon after hearing this.

 

An annual premium would be a more useful number. If there was a major premium adjustment near the end of the finance term, a few huge payments isn't extraordinary. An example of how this would happen, totally independent of any claims, would be a poorly timed truck rental in the last half of a policy year.

You already mentioned a NYC terminal location, that's risky. There's a lot more behind an insurance quote than a monthly payment. Credit rating, driver history. Safety score. Hazmat and the like. As @danny23tx posted, there's more to the story.

By the way, even if the guy's insurance company prevails in the fraud case, there will still be a substantial amount on their loss run. Legal costs will be included, regardless of the outcome.

So maybe $4,200 is a scary big number to some people, but I don't see anything here that makes it newsworthy yet. Other than most drivers really lack an understanding of how commercial insurance works.

Really? Like what?

 

2 owned truck plus a lease op truck is 3 trucks - so $1400 per truck per month

It expensive but not absurd if the equipment is new and the cargo insurance is more than minimum and there are trailers as well

 

$300k on his loss run. That’s all she wrote.

Insurance is all Fd up. Last yr I paid $1200/yr for my 86 Pete and $9000/yr for a 2008 KW. This year they renewed them both at ~$5000 I think. No tickets or losses.

My broker told me they’re losing money on trucking and trying to make it back