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What is the best insurance to have as an o/o w/authority?

Discussion in 'Ask An Owner Operator' started by burdman_02, Jan 31, 2012.

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  1. Jan 31, 2012 #1
    burdman_02

    burdman_02 Bobtail Member

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    Jan 23, 2012
    Climax, MN
    0
    I have been driving on and off the farm for the past 7 years. In the past 2 I've been pulling step intrastate hauling our hay and straw. I'm looking to go o/o and have started the process of getting my own authority. What insurance is the best for new o/o with their own authority?
     
    burdman_02, Jan 31, 2012
    burdman_02, Jan 31, 2012
    #1
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  3. Feb 1, 2012 #2
    Sly Fox

    Sly Fox Road Train Member

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    Oct 29, 2009
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    After you file your USDOT# and apply for your MC# you will get endless phone calls for various things, a big one being insurance.

    You have a while after applying for the MC# to get your insurance filed (also, time to file your BOC-3 as well).
     
    Sly Fox, Feb 1, 2012
    Sly Fox, Feb 1, 2012
    #2
  4. Feb 1, 2012 #3
    burdman_02

    burdman_02 Bobtail Member

    20
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    Jan 23, 2012
    Climax, MN
    0
    Yep, I got my BOC-3 filed right away. i just got a quote back from my local insurance carrier whom I have all my personnal and farm policies thru and she said she went to a surplus broker and got a me a quote for about $8754 for 2 trucks and 2 trailers. She said that I cannot just add another truck but had to add a second trailer (which I don't have) to make the policy. Is this something normal? Why am I paying for insurance on a second trailer when I don't even own one? I rent one on occasion for moving grain but thats about it. $8754 isn't that bad for 2 trucks is it? As of now I would be the only listed as a driver on the policy.
     
    burdman_02, Feb 1, 2012
    burdman_02, Feb 1, 2012
    #3
  5. Feb 1, 2012 #4
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    That's BS, you don't have to add another trailer. She's yanking your chain, and padding her pocket. Call another agency.
     
    bullhaulerswife, Feb 1, 2012
    bullhaulerswife, Feb 1, 2012
    #4
    RedForeman Thanks this.
  7. Feb 1, 2012 #5
    RedForeman

    RedForeman Momentum Conservationist

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    Maybe not. With Progressive, every power unit must have trailer liability associated to it. If you own more tractors than trailers, the leftover tractors will get "any trailer attached" coverage, which will be more expensive than coverage on a specific unit you own. Obviously any comprehensive coverage (beyond liability only) would be an undefined risk and even more expensive.

    I'd fire the agent for not explaining that, even if the coverage was fair.
     
    RedForeman, Feb 1, 2012
    RedForeman, Feb 1, 2012
    #5
    BigBadBill Thanks this.
  8. Feb 1, 2012 #6
    VisionLogistics

    VisionLogistics Road Train Member

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    Jellystone
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    Yep, Progressive adds a trailer onto any truck policy, but when they quoted the price of the add-on for me it was only $8 a year. Yep, 8 bucks a year.
     
    VisionLogistics, Feb 1, 2012
    VisionLogistics, Feb 1, 2012
    #6
  9. Feb 2, 2012 #7
    BigBadBill

    BigBadBill Bullishly Optimistic

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    Yeah that's cheap because one tractor and trailer is not full-time. Add a driver and that will jump.

    Give Gabe at CM Brown a call. Straight shooter and several people on this forum use him and have been very happy.

    www.cmbrown.net 888.217.6722 (he is at trade show in Peoria till Monday)
     
    BigBadBill, Feb 2, 2012
    BigBadBill, Feb 2, 2012
    #7
    FREEBRD Thanks this.
  10. Feb 2, 2012 #8
    FREEBRD

    FREEBRD Medium Load Member

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    Oct 18, 2007
    Lafollette tn
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    No offense SLY! But doesnt answer the question!
     
    FREEBRD, Feb 2, 2012
    FREEBRD, Feb 2, 2012
    #8
  11. Feb 3, 2012 #9
    Sly Fox

    Sly Fox Road Train Member

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    You will get a ton of phone calls, most/a lot are offering insurance. Get quotes. Figure which one you like the best.

    Everyone's situation is different. There's also different limits, deductibles, etc.

    It's hard to just say "Buy this insurance at these rate and it's the best deal."
     
    Sly Fox, Feb 3, 2012
    Sly Fox, Feb 3, 2012
    #9
  12. Feb 5, 2012 #10
    whats in a name?

    whats in a name? Bobtail Member

    23
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    Jan 15, 2012
    Effingham, IL
    0
    I just cut and pasted this from an email my insurance agent sent me. i run regional in the midwest.

    $1,000,000 Liability
    $1,000,000 UM/UIM
    $5,000 Medical Payments
    $14,000 Stated Amount
    $1,000 Specified Perils Deductible (no coverage for windshield)
    $1,000 Collision Deductible​
    Radius 500 miles

    Annual Premium $1,162 (included $65 Policy Fee)
     
    whats in a name?, Feb 5, 2012
    whats in a name?, Feb 5, 2012
    #10
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