Insurance

100k for a year with two accident on your record and a new CDL? Sounds normal to me. I couldn't hire you with 1 accident, 2 and I wouldn't want to. That's a bad driver right there.

 

Typical for a new venture, new DOT in CA with 2 accidents.

Really belongs in the CAARP......few markets would write him, even at that price.

In the insurance biz, the $ 100K for a single unit is a "go away" quote.

 

Im guessing letting your dot# age is a good idea?

 

Age of your DOT# is one criteria we use to analyze a trucking risk.

Typically takes to 24 months before the new DOT# is no longer a underwriting issue.

 

A DOT# without insurance attached isn’t aging.

 

I thought 76k a year for 7 trucks and trailers was high. Guess my insurance is cheap. Don’t know how you could make any money paying 100k a year for insurance

 

I was quoted 1400 a month, 2300 down with ooida.. That includes both Truck and trailer.

 

Problem with OOIDA is it seems to limit who you can haul for.

 

I’m up to $9200 per yr. It’s steadily gone up a couple hundred per yr. Only one small claim, a few yrs back. Regardless it always goes up every year. On average 50% over 17 years. I had Ooida, the first 7 yrs. there were a few Brokers and Carriers that wouldn’t recognize them as a Legit Insurance Co. I guess it’s technically a risk management Co. Along with a few that Ooida sued. Every month, I’d get a rolling list of 3-10 Companies that required a phone call to Ooida, before hauling a load. Some Brokers, Landstar for instance would overlook them, if they needed a Load covered bad enough. All said, they were good and didn’t jack my rate up, even after I had a serious accident. A few yrs later, I found a lower premium, and switched. Ooida might be your best bet, starting out. Premium wise.

 

How expensive is your equipment? What are you hauling? How many years on CDL-A? How many violations or accidents? How is your credit? Where are you garaging?
100k is high and as another poster stated....a go away quote.