Are these insurance quotes reasonable???

If it helps I got quoted 27k out of Florida and no another year wouldn’t help. Maybe like a couple hundred but I was told it wouldn’t at all. Didn’t try the car hauler stuff.

 

You're just in a bad area. Add car hauling and you've seriously limited your options. Too many clowns flooded the hot shot market with too many claims & tickets. I had an underwriter with Hallmark say hot shot rates were going up due to the high probability of the truck being used as a personal vehicle also thereby increasing their exposure. Given the number of brokers you have looking you probably have the best quote. Plan on your rates being about the same for two years.
What Progressive said about being cancelled if something is wrong on the policy is true. If the insurer finds your operation being different from what's on the initial app they can do a midterm cancel for change of operation. Now they can dip a rewrite with no lapse in coverage. With a cancellation under those circumstances, as long as there was not a lapse in coverage, it won't hurt future quotes. You'll just have to explain it for a couple years and provide documentation to back up your story.

 

You told them no cars and then hauled cars anyway?

 

For what I am expecting to earn according to the numbers that drivers and brokers are showing me I can probably handle the 38k quote and still turn a profit. Still, nearly $40k a year insurance is insane.
Maybe uproot the business and move it to a more truck friendly state once I pay off some debt and recover some of my investment.

I'm stuck right now and have to start working asap before I start going into debt. I see no choice. Going to give it a few more days to get a few more quotes and hope for a break. Otherwise just go with progressive and re apply for insurance every 6 months or so. I'm determined to succeed one way or the other.

 

Have your insurance broker call Berkshire Hathaway. When I had my logging trucks Progressive quoted me 40k and Berkshire was 15k. The problem is, logging and auto transport are the two highest cargo's to insure and these are the ONLY two insurance carriers that will insure them in Florida.

 

Would it be wise to call them myself or have a broker do it?

 

Also, dont change insurance in 6 months. Progressive has a buyout clause if you cancel before a year is up.

 

For Berkshire you have to go through a broker

 

Ok, thanks. I sent my broker this info. Hoping for the best.

 

Also the more boxes you check the higher its costing you. Some will check every kind of freight on there Cargo Carried section. When applying for there numbers, if you only check General Freight. It helps, rather then cars, Household Goods,Oilfield Equipment,Logs, Poles, Beams, Lumber.

The more boxes you check, the higher the Insurance quote is going to be.