Insurance

Discussion in 'Ask An Owner Operator' started by Batman13, Mar 25, 2021.

  1. Batman13

    Batman13 Light Load Member

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    May 20, 2020
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    Is $8k down payment average for insurance for own authority??
     
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  3. calnca

    calnca Medium Load Member

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    Bella Vista, AR
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    Depends on where you are, and whether it's a new authority or not.

    In CA, for a new entrant DOT#, we'd charge $ 25,000 - 30,000 depending on mvr for full coverage. Down payment for finance company would be 20-25%.....or $ 6,000 - 7,500.
     
  4. Batman13

    Batman13 Light Load Member

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    May 20, 2020
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    Tx ..new authority..is 8 down payment hi or normal?
     
  5. Jaebo74

    Jaebo74 Medium Load Member

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    Seems high to me. How much is the lump sum for the year?
     
  6. calnca

    calnca Medium Load Member

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    6,216
    Apr 2, 2014
    Bella Vista, AR
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    Given our rate structure in Texas I'd say it's in line with what we do in CA
     
  7. Jaebo74

    Jaebo74 Medium Load Member

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    I had to pay about 20% last year as a down payment and that was a total of 3200. In Georgia. I was told GA has extremely high rates. Hope this helps.
     
  8. 86scotty

    86scotty Road Train Member

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    Appalachia
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    Depends on a lot of things. Sounds super cheap to me but down payment means nothing. What's the full quote for a year? Where are you? What year/model equipment are you running?
     
  9. abyliks

    abyliks Road Train Member

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    ludlow MA
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    I’m with progressive and all I had to do was pay the first month when I started
     
  10. New2biz

    New2biz Bobtail Member

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    May 10, 2021
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    I’m new and shopping around for insurance. I got a quote that nearly made me pass out. 100k for the year!!
    I’ve had two accidents in the past before I got my cdl. It seems insanely high though.

    If anyone can share some insight I would appreciate it. And yes it’s 100 thousand dollars for my first year.

    I’m based on Florida and California
     
  11. Jaebo74

    Jaebo74 Medium Load Member

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    That's insane. I believe somebody screwed up somewhere. How many trucks do you have?
     
    Rideandrepair Thanks this.
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