Insurance Help!!!!!!!!

What GOOD insurance carriers do you know of after Progressive for owners with fresh MC numbers in Illinois????


Pleaseeeee.

I changed the financial responsibility to my spouse because of a higher credit score history? They raised the premium to $32,000!!!

Oh, my GOD!

They raised it from $22,000.

How can they change things like that?

 

something must have happened to you

you get ANY sort of ticket? bad CSA score? filed bankruptcy? bad or not so good credit on your part?

could be they want to get out of the area you are located in?

maybe too many others filing claims or had claims filed against them?

 

No negatives on our part. The spouse has a better credit score though has more spendings and taken things on credit since we started this business two months ago. We were trying to lower the premium and were told that credit score affects the premium.

 

Progressive's known for pulling stunts like that. Maybe check with OOIDA?

 

The credit score can affect it, but there are many factors.

Trucking experience, years that you have your CDL, Garaging location, commodity Hauled, MVR, operating radius, prior insurance, and probably many others.

 

@TallJoe may know of other insurance.
Just speculation, but progressive may be planning ahead for a lot of cancellations.

 

As a new MC# back in 2016, I started with Wesco for the liability and Great American for cargo,( I had Progressive only for Physical Damage)... another option was Loyd's of London, those quotes were in the range of 12-14K but it was 2016....

Kind of surprised that you started with Progressive, they were giving me quotes in the range of $18K - 20K at the time too. Find another insurance agent that can offer you something other than Progressive. Maybe call OOIDA, I heard that they have a workable insurance too.

 

There aren't many carriers playing in the new authority arena......Progressive and National Indemnity (Berkshire Hathaway) are writing most of the new ventures.

Based on our (National Indemnity) experience the fatality rate for a new venture is really high......based on our book of business MAYBE 2 out of 10 are in business after 24 months

 

I wouldn’t be surprised them going down if they are exploited that way—outrageous costs for insurance.

 

Thank you, Joe.
That is helpful.