Another #### insurance question.

Discussion in 'Ask An Owner Operator' started by RunningAces, May 25, 2020.

  1. RunningAces

    RunningAces Road Train Member

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    Got a quote from Progressive for what seems like a very low number from what I was expecting. I'm located in a small city in TN, in my 30s, great credit score, clean driving record, and 18 months flatbed experience. Truck is worth $35000 and paid off. 48' flat general freight plus steel and coils for 48 states. I got 1 million liability and 100k cargo with a 2500 deductible. The quote was only $9500. This doesn't sit with the 20k I've seen tossed around here so why would it be so low, even adding uninsured motorist wouldn't raise it much passed what it is now.
     
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  3. LoneRanger

    LoneRanger Road Train Member

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    I would make sure in writing that the rate won’t go up once you signed up.

    all I can say.


    Also makes a difference the 20k being tossed around is for new entrants.
     
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  4. RunningAces

    RunningAces Road Train Member

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    I will be a new entrant. Just my experience as a company driver then lease driver with the same mega.
     
  5. LoneRanger

    LoneRanger Road Train Member

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    I would make sure that quotes in writing and that your rate won’t go up one month after signing up. Progressive is know to do that. But that’s a good rate from them.
     
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  6. RunningAces

    RunningAces Road Train Member

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    So when signing up over the phone I assume I'll get an email with all the info and numbers on it, just make sure and request that if it isn't offered right off the bat anyway?
     
  7. LoneRanger

    LoneRanger Road Train Member

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    I don’t know if the contract has any provisions that state rate is locked in for the term, or if they have the right to renegotiate the rate. One thing I know before signing it, read it.
     
  8. Rubber duck kw

    Rubber duck kw Road Train Member

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    That's about right for having real world experience and being over 30.
     
  9. LoneRanger

    LoneRanger Road Train Member

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    I wouldn’t say that.

    I have more experience then that, yet my rate comes in twice that much.
     
  10. danny23tx

    danny23tx Road Train Member

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    Get it in writing and check mileage distance , they may only cover you so far . Rate sounds really low for new entrants.
     
  11. JonJon78

    JonJon78 Road Train Member

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    I would continue with the leasing onto Mercer plan you had versus getting your own authority, unless you really plan on going out and knocking on doors etc etc to obtain contract customers.

    Working strictly spot market off boards and apps is nothing but a race to the bottom competing with fuel money haulers and folks who have no business being in business.


    With the current conditions of the economy and the excessively oversaturated trucking industry IMO leasing on somewhere is definitely a better option.
     
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