hotshot insurance cost anyone willing to share info.

Most freight brokers look at 1 mil. Liability and 100,000 cargo for anything I have carried as adequate. I don't know what that rate retention is (DJ is talking about) something like a high risk group ( could be Drivers or cargo)

 

Risk Retention Groups are a pool of investors. They are not regulated by the state insurance departments nor are their financials regulated. A lot of times they have a maximum aggregate for all claims filed within a policy term. This is how they get "cheap rates". If you have 100 trucking companies insured under a master policy and you have a 10 million aggregate for the year, those 100 companies are sharing the limit. As soon as that limit is exhausted, everyone else on the policy is stuck like chuck with no coverage. A very bad position to be in. Risk Retention Groups were originally designed for large trucking companies to self insure themselves and someone got the bright idea to say "hey, lets offer to everyone else" and has kind of blown up somewhat. Keep in mind that there are several freight companies and brokers that do not take risk retention groups as proof of insurance.

 

Wedge, where are you based. I may have some numbers for commercial insurance agents I can give you?

 

Sorry to add to your viewer count, but I came in here to see if I could learn something as well. Guess I should maybe start my own thread about the same subject and not steal information from other threads.

 

Hey Wedge, have you talked to Caribou Insurance out of Birmingham? They deal with a lot of trucks.