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Insurance

Discussion in 'Lease Purchase Trucking Forum' started by Ihogthebed, May 10, 2015.

  1. May 10, 2015 #1
    Ihogthebed

    Ihogthebed Bobtail Member

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    Aug 18, 2014
    0
    I am leased to a company that is self insured. They charge all the owner operators monthly premiums that aren't really going to a insurance company,just in the companies pocket! I have no problem paying a premium,the problem is the deductibles are so high that you never get to use the insurance,you always pay out of pocket.
    Is this legal???
     
    Ihogthebed, May 10, 2015
    Ihogthebed, May 10, 2015
    #1
    nofilter Thanks this.
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  3. May 16, 2015 #2
    Ubu

    Ubu Road Train Member

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    Aug 25, 2012
    Rumored to be somewhere
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    There are lots of different types of insurance policies for a truck so you would need to be more specific.


    Most self-insured companies self-insure for cargo and primary (laden) liability only, some may have unladed liability or bob-tail as well. Physical damage insurance is normally up to the truck owner to obtain if they want it as it is not a requirement. Are you sure your company is even offering you physical damage insurance?
     
    Ubu, May 16, 2015
    Ubu, May 16, 2015
    #2
    nofilter Thanks this.
  4. Jun 10, 2015 #3
    315wheelbase

    315wheelbase Heavy Load Member

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    Oct 26, 2014
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    a carrier or company can not force you to pay or buy their bobtail or physical damage ins call Daily Underwritres in PA get your own ins,
     
    315wheelbase, Jun 10, 2015
    315wheelbase, Jun 10, 2015
    #3
    nofilter Thanks this.
  5. Jun 20, 2015 #4
    G/MAN

    G/MAN Road Train Member

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    Sep 3, 2010
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    I would agree that they cannot force you to purchase their insurance. But, it depends on what is in the lease agreement. Have you read your lease? Whatever you agreed to when you signed the lease is binding. I would check the lease and see what they are actually charging you for and if you can find your own insurance. Most insurance has a $1,000 or $2,500 deductible.
     
    G/MAN, Jun 20, 2015
    G/MAN, Jun 20, 2015
    #4
    nofilter Thanks this.
  7. Apr 25, 2016 #5
    nofilter

    nofilter Light Load Member

    195
    39
    Nov 21, 2012
    WA
    0
    you must talking about "System Trans" haha..
     
    nofilter, Apr 25, 2016
    nofilter, Apr 25, 2016
    #5
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