Question on truck insurance

Yea, I got my cell number on my USDOT and I got a pile of calls. Nothing too bad and I still get a few trying to sell me office supplies or health coverage or warranty repairs.

I usually have fun with those callers....hehe

 

Since I was with Progressive and already pre-paid a policy in full, I had them quote me for Independent O/O Authority....

$750k Primary Liability
$300k UM/UIM
$250 Comp
$1k Coll
------------
$4586/yr

I didnt think that was TOO bad. I might call 1 or 2 more places but I only have to come up with $1500 and I will be paid in full until next summer. Thats better than coughing up all of that NOW at least....

Oddly, I might drop Collision for a few months, since I cant run until I have my MC and the truck still needs 1 more repair for my DOT inspection. Collision adds over $800 to my premium. Comp is a paltry $106.

 

Cargo insurance included in that?

 

No. Thats additional. I didnt add it at the moment. It does cover a DRY VAN trailer though....

EDIT:
CRAP! - Looks like I missed this. FMCSA requires Cargo Insurance unless running CONTRACT.
Common Carrier needs this...Contract Carrier doesn't....I had that flopped in my mind-

 

You're going to have to have cargo to haul any freight-and unless you already have something steady lined up, you need to get quotes on a million of liability, most of the major players require it. A lot of them require a hundred thousand of cargo too, I think the feds just require $25k. You are getting ready to haul some freight, right? Does Progressive have you under a mileage restriction?

 

Progressive will not permit an Independent O/O to run outside a 500 mile radius but 10% of the time. Thats not a worry I have for now...
(Leased O/O have no mileage restriction).
I added Cargo insurance and Progressive already filed my BMC-91/BMC-34 today.

...cant do much till 2011 anyway...

 

That gives you plenty of time to get everything else ready then, you should easily be ready to start making some money on the first.

 

I applied for my authority on August 2nd, my authority letter is dated August 20th, if that gives you and idea of the time frame.

 

In theory at least Josh....

Still need some kingpins on the KW. But thats why I started the MC process, since it will take some time ya know?

Thanks for your tips.

 

Jack that front end up, grease the fire out of them, and see if it'll pass then.