Insurance for an 18 year old

Discussion in 'Ask An Owner Operator' started by Tormentor, Feb 20, 2022.

  1. Tormentor

    Tormentor Bobtail Member

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    Changed the quote to be based on a 2003 KW valued at $30k and the quote went down to $31k.

    Still bizarre that we're seeing such different numbers. I will call tomorrow
     
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  3. D.Tibbitt

    D.Tibbitt Road Train Member

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    that is still a crazy price man... do you think you can make the numbers work with a 3k a month insurance payment?
     
    ProfessionalNoticer Thanks this.
  4. FiveRiversFreightlinesLLC

    FiveRiversFreightlinesLLC Bobtail Member

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    Hi
    I'm in a similar situation, could you send me the progressive agent's number please?
    Thanks
     
  5. Tormentor

    Tormentor Bobtail Member

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    Definitely, flatbed rates are $4-6 a mile around here... I would assume after a year or so insurance rates will drop down a good amount.

    I've ran the numbers and everything works out, even at $2 per mile. There's a good amount of freight going between Seattle and Spokane, so 1 run a day would get me were I need to be.

    I also have my other business that pretty much runs itself that I can fall back on in the event something goes south with trucking ie: truck breaks down; etc
     
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  6. D.Tibbitt

    D.Tibbitt Road Train Member

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    Where u getting these numbers from? I ran those lanes for the last 2 years and was never seeing anything coming out of seattle for a good price. Spokane was everyday for me. I was running direct and under dispatch for a reason up there , its quite hard off the load boards, but i dont know what connections you have.. I just hope you understand there is more to a load then a dollar per mile amount. A load could pay 6 dollars a mile all day. But if its a 100 mile load and takes all day to get loaded and unloaded then u didnt do very well for the day, 5 days a week is only 3k. Barely cover expenses. And u didnt even pay yourself yet. Its just something to think about .

    But if its something u wanna do go for it. The trucking business is highly regulated by the government and you may find it incredibly frustrating and difficult to keep up compliance compared to your other business.
     
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  7. Tormentor

    Tormentor Bobtail Member

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    I’m getting those rates off DAT.

    Were you running flatbed? The rates I’m seeing for vans are not all that great.

    I’ve talked to a few friends who run in Washington frequently, and I’ve been told that they’ve never had a problem getting loads in that $4-6 range.


    I would suspect the rates are that high because of the nature of the load, sounds like it’s a lot of steel coming out of Seattle and the fact that you gotta go over the mountains.

    I’m actually seeing the opposite, tons of stuff coming out of Seattle but not nearly as much going back west from Spokane.

    I know it’s highly regulated but I’m willing to take it on. I’ve had my mind set on doing this since I was about 16 so it’s gonna take a lot to get me to backdown.
     
  8. LoneRanger

    LoneRanger Road Train Member

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    talk to Alicia at CDL Associates in Northville, New York. Don’t have the number off the top of my head but a quick google search will bring it up.
     
  9. Wasted Thyme

    Wasted Thyme Road Train Member

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    It's his age. He'll keep seeing those rates till he's 25. Same as a personal vehicle. Young male drivers are high risk insurance wize. He's going to be paying way more for insurance than you for the next seven years.

    So it's between whether he wants to lose 1500 a month on insurance. Trying to be an O/o. Instead of working for a company for a few years and saving his money up.

    He's basically starting with a huge disadvantage. Compared to you.
     
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  10. D.Tibbitt

    D.Tibbitt Road Train Member

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    yes i was running flatbed and stepdeck, but like i said i was running all direct freight for a reason.... so ask yourself what happens if the rates go lower than that? what if they got to 1.60 or less? because thats usually what loads out of seattle are paying. there is better freight out of spokane then seattle but you wont find it on the boards.. i dont think you are seeing the entire picture here. theres alot more to this stuff than just booking a 200 mile load for 4 dollars a mile... honestly i wouldnt even waste my time in seattle for that rate... but if you think you can make it work, i wish you luck. the northwest is one of the toughest markets to work with a flatbed unless you have direct freight.
     
  11. JoeyJunk

    JoeyJunk Road Train Member

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    I wouldn’t pay that high of insurance for any reason. I’d go company and wait a few years. I couldn’t spend money like that JUST for insurance saying this is my dream or it’s what I was destined to do. Your quotes (insurance) are enough to make one sick.
     
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