Insurance on hold?

Discussion in 'Ask An Owner Operator' started by Awanw8699, Aug 10, 2020.

  1. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I'm traveling and will be out of country for 4 months. Does anyone know if I can put my insurance on hold/pause while my truck is parked?
     
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  3. DUNE-T

    DUNE-T Road Train Member

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    14,939
    May 10, 2015
    Detroit, MI
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    What kind of insurance, just bobtail or do you have an active MC?
     
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  4. StrokerTSi

    StrokerTSi Medium Load Member

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    777
    Aug 28, 2016
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    Active mc you can but you'll be treated as a new mc when you restart payments.
     
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  5. Gdog66223

    Gdog66223 Road Train Member

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    Dec 30, 2017
    Coal Town
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    You can put your MC on hold and Insurance but, when you come back you will be treated as a "new entity". It's sad but just the way it is. If I were you I'd just pay the insurance and leave everything the way it is. It's only 4 months.
     
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  6. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I have active MC. Got cargo and liability.
     
  7. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    Yes, I guess I will just pay the insurance.
     
  8. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I will just keep making payments.
     
  9. Atlaw4u

    Atlaw4u Heavy Load Member

    750
    1,131
    Jun 8, 2018
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    You can reduce your liability to the federal minimum of $750k and remove your cargo insurance. You will remain active and it willsave you a good bit of $.
    Also, see if your agent will reduce your coverage area to a 500 or 300 mile radius. This will also save some $.
     
    Last edited: Aug 11, 2020
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  10. DUNE-T

    DUNE-T Road Train Member

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    Detroit, MI
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    Drop it to liability only and tell them that you won't be driving for few months. This way you won't have any interrupting in your business record
     
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  11. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    Great. Thanks for the response guys.

    I didn't know I could still remain active by cutting down any part of the insurance.
     
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