Insurance

WOW... Just was quoted by Progressive. Im in a preferred market with preferred credit. No accidents, no tickets and had my CDL since 1992.

$1,000,000 Liability

$100,000 Cargo

$1,000 Deductable

My preferred rate.......$15,434/yr using monthly payments

$11,000/ If paid in full

And I told her I would most likely be running Intrastate so well within the 500 mile radius. I was thinking Id be quoted something like $5,000-$7,000/ yr..especially since I have preferred credit, no tickets or accidents, and long time CDL holder....

Well I guess Im priced out of the market.

 

I figured Id have to work around some brokers because of the new authority but you get established and you get more and more access. The insurance quote is so high there is no way I can go with my intra-state plan for now. And Ill have to rethink my long term plan since that rate is double what I expected. Insurance eats away a lot of profits... It has to be worth it to go out on my own or its a deal breaker. I have real numbers to work with in figuring expenses now and I dont know if I can work around that insurance quote.

OOIDA might be better but Ive heard brokers don't accept their insurance.

 

Are you leased to Mercer?

 

I was thinking I might lease on there instead of getting my own authority to start. That insurance quote may have squashed my plans to run Intra-state so Id be looking further out before I even get started now and I hear great things about Mercer. ..Anyway my question is does insurance work the same way when you lease on? Do I have to still get that $15,000 plan or is that handled through Mercer?


Im on page 14 of the Mercer thread but havent seen that addressed yet. I intend to read the entire thread but it looks pretty long..lol... But even if it takes days Ill get through it..

 

As of about 4:30 p.m. today Im inclined to agree with you