Ya I'm worried the same with a new trailer showing up sometime in the next two weeks. Mines a 40k hydralic dovetail I'm sure it'll raise a bit
O.O's & those with authority's has your insurance gone up this year?
Discussion in 'Expediter and Hot Shot Trucking Forum' started by crocky, Jun 16, 2022.
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mine went down
Lite bug and Another Canadian driver Thank this. -
I just renewed back in March with no change. But 3 weeks ago I added my CDL and a 38’ flatbed trailer and got my new bill . Over $1400 for the first month and $930 afterwards. That’s only one truck and the 38’ trailer and a 22’ trailer. My agent looked it over twice and can’t see anything wrong and doesn’t know why it went up so much. It jumped $400 a month. I’ll be calling the insurance company myself because I want it explained to me the reasoning behind that!
Lite bug and Another Canadian driver Thank this. -
Mine went down significantly..... 17k last year. Renewing next month for 13k
crocky, Lite bug, God prefers Diesels and 1 other person Thank this. -
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Got this from Great West a few days ago. My authority is tempered, no longer a new entrant, no tickets, citations, loss runs, etc. Own authority, semi truck and 48' flatbed for reference. Here's a snip of the email.
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Lite bug, Another Canadian driver and God prefers Diesels Thank this.
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Lite bug, Another Canadian driver and Rideandrepair Thank this.
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Lite bug, God prefers Diesels, Another Canadian driver and 1 other person Thank this.
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Talked to my agent the other day about my renewal. He asked about my truck value and I said keep it at $45k, and the trailer at $13,5k. Yeah they’re more valuable then that right now but I’m not worried about it. Trailer is new and paid for, and my truck has been paid off since 2017.
The point is, you don’t have to increase the value of your equipment if you don’t want to. Over the years I’ve systematically reduced values as my equipment aged and the value dropped. Should I increase it now, I don’t think so because insurance companies typically beat you up pretty bad anyways when settling out. I’ll enjoy paying the lower price for insurance more then I would a few grand if it was to get destroyed. Besides, if somebody hits me, it’s their insurance I’ll be going after, not mine.
Last year, my $1,000,000 liability, and $100,000 cargo (per BOL) and my equipment values above. My insurance was $5,000 for the year. It’ll be interesting to see if it goes up or down this year. I’ve been with the same agent for probably 30 years.been a class A holder for 37 yrs. I have Zero claims and a spotless safety report. Knock on wood.Lite bug and Another Canadian driver Thank this.
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