Insurance

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

  1. scoobertdoo

    scoobertdoo Road Train Member

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    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.
     
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  3. calnca

    calnca Medium Load Member

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    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.
     
  4. Montanaland

    Montanaland Light Load Member

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

    calnca Medium Load Member

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    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.
     
  6. fortycalglock

    fortycalglock Road Train Member

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    A DOT# without insurance attached isn’t aging.
     
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  7. shanman

    shanman Medium Load Member

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    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
     
  8. mwhjr1988

    mwhjr1988 Bobtail Member

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

    snowwy Road Train Member

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

    Rideandrepair Road Train Member

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    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.
     
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  11. adamrins

    adamrins Bobtail Member

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    May 18, 2021
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    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.
     
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