Truckers Report Jobs

Find Trucking Jobs

Company Driver Company Driver Dry Van Dry Van Flatbed Flatbed Refrigerated Refrigerated Specialized Specialized Owner Operator Owner Operator
More Trucking Job Searches ⌄ Fewer Trucking Job Searches
⌃

Small Trucking Company - Insurance Premium Too High

Discussion in 'Ask An Owner Operator' started by MrGud, Mar 18, 2015.

Page 1 of 2
  1. Mar 18, 2015 #1
    MrGud

    MrGud Bobtail Member

    11
    1
    Jan 25, 2013
    Saint Louis, MO
    0
    Hi Guys,

    I am new to this forum. I have a few questions to ask. So, I have recently started my own small trucking company (LLC). Been in business since, April 2014, almost 1 year now. Yes still new kind of new :) I currently have 4 owner operators who run under my MC Authority. My question for you guys is, what are some highly recommended & affordable trucking insurance companies you guys would recommend? I am currently with Progressive and they are really expensive for six months to run 4 drivers. My primary liability coverage is at $1,000,000 even though FMCSA only requires $750,000. My next question, are insurance premiums always HIGH for new authority? Because of high risk. Will the premium ever decrease the older my authority is and safety of my drivers? I know the amount of fleet plays a big role in the premium cost. Btw my drivers pay for Bobtail. What is the best route to take for me to save money on insurance. Any advice or tips is appreciated. Thanks!
     
    MrGud, Mar 18, 2015
    MrGud, Mar 18, 2015
    #1
    jaawcarrier Thanks this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Mar 19, 2015 #2
    zinita17601

    zinita17601 Road Train Member

    1,318
    1,603
    Aug 19, 2010
    lancaster pa
    0
    How high is too high?
     
    zinita17601, Mar 19, 2015
    zinita17601, Mar 19, 2015
    #2
  4. Mar 19, 2015 #3
    saddleup

    saddleup Light Load Member

    281
    137
    Sep 30, 2011
    magnolia, ky
    0
    yea what is to high, and you have to figure in the o/o leased on.
     
    saddleup, Mar 19, 2015
    saddleup, Mar 19, 2015
    #3
  5. Mar 19, 2015 #4
    Thediamond13

    Thediamond13 Light Load Member

    115
    55
    Dec 2, 2014
    Salt Lake City, UT
    0
    I think it's always high for everyone....
     
    Thediamond13, Mar 19, 2015
    Thediamond13, Mar 19, 2015
    #4
  7. Mar 19, 2015 #5
    315wheelbase

    315wheelbase Heavy Load Member

    783
    601
    Oct 26, 2014
    0
    new carrier rates are high for the first 2-3 years,,progressive is one of the highest,,call Daily Underwriters in Penn,,they have a website
     
    315wheelbase, Mar 19, 2015
    315wheelbase, Mar 19, 2015
    #5
  8. Mar 19, 2015 #6
    Ezrider_48501

    Ezrider_48501 Road Train Member

    3,845
    5,130
    Apr 2, 2011
    bismarck, nd
    0
    i got a pretty hefty discount on my 1 yr renewal with no claims
     
    Ezrider_48501, Mar 19, 2015
    Ezrider_48501, Mar 19, 2015
    #6
  9. Mar 19, 2015 #7
    Scuba Steve

    Scuba Steve Light Load Member

    176
    146
    Jun 21, 2009
    Chicago IL
    0
    Might want to give canal insurance company a try for a quote, been with them for a short while so far and have no complaints about them.
     
    Scuba Steve, Mar 19, 2015
    Scuba Steve, Mar 19, 2015
    #7
  10. Mar 22, 2015 #8
    jaawcarrier

    jaawcarrier Bobtail Member

    14
    3
    Mar 21, 2015
    Atlanta, GA
    0
    Do you drive or only find loads? I am interested in taking the route you have....
     
    jaawcarrier, Mar 22, 2015
    jaawcarrier, Mar 22, 2015
    #8
  11. Mar 22, 2015 #9
    RedForeman

    RedForeman Momentum Conservationist

    4,875
    22,139
    Jan 30, 2011
    0
    You won't qualify with top tier insurance companies until you've been in business three years and have established safety and loss runs. Until then, make sure you're negotiating those rates really hard! Maybe if you're at mats next week you can get Flo to blow you a kiss for paying her that $60,000/yr premium.
     
    RedForeman, Mar 22, 2015
    RedForeman, Mar 22, 2015
    #9
  12. Mar 22, 2015 #10
    rollin coal

    rollin coal Road Train Member

    13,287
    26,798
    Mar 29, 2008
    TN
    0
    I really enjoy the Flo commercials they are amusing lol.
     
    rollin coal, Mar 22, 2015
    rollin coal, Mar 22, 2015
    #10
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

    • Page 1 of 2