Trucking Insurance question.

Discussion in 'Experienced Truckers' Advice' started by LoneRanger, Mar 9, 2020.

  1. LoneRanger

    LoneRanger Road Train Member

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    I want to hear from the industry and other drivers.

    would we benefit from a universal government trucking insurance?

    Meaning if government decides to provide insurance for owner operators and only to owner operators or maybe small companies with less then let’s say 10 trucks.

    let’s say 9k a year for dry van? 12k for reefer and flatbed and maybe 13-20k or more for the os/ow crowd?

    What would be the pros and cons?
     
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  3. Rubber duck kw

    Rubber duck kw Road Train Member

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    We're looking for less government involvement not more.
     
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  4. pmdriver

    pmdriver Road Train Member

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    Have the government provide insurance at a deal? How is the war on drugs going along with all the other things some have asked the government to fix?
     
  5. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    But they are the government. They just want to help. lol
     
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  6. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    Why would a safe, experienced O/O with an impeccable safety record, want to be lumped in with a bunch of new O/Os with no track record?
     
  7. bowhunter67

    bowhunter67 Light Load Member

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    I do flat and my insurance is no where near what you suggested why would I want to do that.
     
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  8. LoneRanger

    LoneRanger Road Train Member

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    they subsidize other industries why not the trucking industry?

    insurance cost can maybe be standard after certain time?

    maybe let’s say 2 year clean record and you can get insurance through the government, and you need to have and keep a clean record.


    The reason I ask is, my record is clean and I’m still getting charged 18k a year with a 2 year history.

    not sure how but every place I called around 10 quoted me within the same range.

    and with rising costs I don’t see how newer guys can survive.

    So I decided to see what the industry consensus is.


    Maybe it can be only for the first timers enough to get experience and head over to Ooida after 4 years.
     
  9. Doealex

    Doealex Medium Load Member

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    Curious to know what OOIDA policy is going to cost. I doubt that it would cost much lower with membership costs. I met an OOIDA member who beat cancer. After he submitted paperwork he got a 50 % discount and his premium was half of mine (not a member).
     
  10. LoneRanger

    LoneRanger Road Train Member

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    that’s the thing ooida requires 4 years before they insure you, something owner ops have a trouble of reaching because of rising insurance and other costs.
     
  11. x1Heavy

    x1Heavy Road Train Member

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    One time all insurances laughed at me to my face and then demanded 1000 dollars cash to write a minimum liability policy for me and my car. (Stack of tickets etc)

    The State of Maryland had insurance through them as a last resort and they provided a policy for I think 500 annually. Minimum liability. If you are going to hit something make sure it's less than 25000 dollars in value and not the BMW's and caddys in DC beltway etc.

    (Fast forward I carry a million minimum for a few dollars a month... so the shoe is on other foot)

    There is no way the US Government will engage in that kind of insurance. Frankly I think it interferes with the free markets. If you do not have the money to run a trucking company with insurance you are out of business. Alot of people made the mistake of piling into owner operator in the 2018 great buy up of trucks only to see the freight crash in 19 and crash some more this year. And how.

    There will always be trucks. Only those who have money when the smoke clears will run them. All others will be asking "Do you want fries with that?"
     
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