Rates are crashing and fuel to the moon!

My understanding is that Progressive caters to new carrier’s just entering the industry.

 

I’ve got a couple different options, probably get everything set up some where else and just pay my cargo for right now until I know what’s going on with the truck

 

I don't know much about RGN anything besides what I see on this site, occasionally getting these emails though... What do you think about these rates @ElmerFudpucker ?

 

They are trash. With that said they will get covered easily. Especially the No dak. But every one is at least 1500 light. The Utah is about 2500 light. The local is 800 to a grand off. Which is probably about what the broker has in them

 

Still, 26k for one truck and trailer is crazy. What kind of work do you do, why is your insurance so high?

 

Yah, it’s still crazy, no argument there!

First reason its so expensive is I live in Florida..insurance in general here is nutz. A few years back before I got my authority no one, not even Progressive would give a policy to a new entrant in this state.
Nonetheless, when I jumped in new entrant insurance for me was $20k as to be expected being that I had a 21 389 and a new GD dry van hi-spec. Two years prior when I bought my first truck they wanted $30k but I decided to just lease on until my company and business credit was established for two years.
Next problem was that I accumulated over $250k in loss runs, most of that being from my truck and fresh from the factory trailer being stolen. Stolen 1 week after my authority went active. Struck by lightning, hit a huge mule Deer on 90 in SD. All added up to me being a huge risk that nobody else would touch.

Last year it was $49k which I just paid cash because to finance it with them was another $8k.
So now it goes up even more this year and I refused to pay it again. Had planned on just shutting down down for the winter and getting everything moved to South Dakota..

So yah, it’s still crazy but I’m going to pay the $26k and work on moving the business out of Florida..

I don’t do anything special, just dry van general freight. Got excellent credit, not even a parking ticket in over 40 years. So no issues there.

One thing positive about the whole crap deal is I don’t/can’t run freight that’s not profitable. YOY I’m down 30k miles from my normal 120k miles. Taken a lot of time off and sit a lot. Ran 4 loads this past week and a half and stayed at $3 up to $3.47 per mile. All relatively short runs with a high daily revenue.

 

I can tell you that KCMO to CO is junk. In a dry van I can get 2K pretty much any day of the week next day delivery.

 

Only thing I know about low bed is when we need to move our big stuff to hit the pin on the one in the yard, I have zero desire to double my headaches for the same ish dollar value my reefer makes

 

Move it to SD, my new agent told me my insurance would probably be under $10k.
Don’t move it to NJ, they just raised the minimum liability to 1.5 million..lol, there’s been an exodus from the state now.

FWIW, I renewed today and the insurance carrier is GEICO. Supposedly A++ rated.

 

A lot of those that came in through Mexico came over with a Mexican CDL which is legal to use in the US but they are supposed to follow certain laws like bringing in a load from Mexico and taking one back directly to Mexico. In this case they were just running for smaller mom and pop companies in the US. When Texas banned the use of them a lot of those guys went to other states. It’s not just Mexicans btw a lot of the guys I met were Colombian. Crazy part was that their percentage pay was in line with what drivers are making hauling aggregate in this area.