Rates in the toilet?

That's normally what big companies do. They will self insure for an amount like say $2 million. It's really like having a huge deductible. Somebody mentioned Swift. Imagine what kind of premiums they would pay if they just had a standard deductible policy with all the claims they have.

 

Your talking about one guy on the mercer thread who just leased avi 1.45 for all miles and a couple say they sat, some of us have avi between 1.90 to 2.00. For speedometer miles. Its cherry picking to post as you did. I also pulled my first load in Feb 1980, savannah to Baltimore, double stack roll roofing

 

Hey skate, I had a big long post about that yesterday. Decided it wasn't worth it. Pete had owned a truck for less than five months, and spent at least two of those pulling a box. So that's a maximum of three months fir a brand new owner operator leased to Mercer pulling a flat, yet we are going to use him as the example of how it "really is" over here. the fact that he had averaged that high is pretty #### good for someone with such limited ownership experience.

 

I thought about the self insured game. Maybe I didn't understand it but it didn't seem like a very good deal to me. I currently pay ~6,000/truck for $2,000,000 liability. So $18,000/yr for three trucks. Cheap insurance against the big one I thought. And it's tax deductible.

 

Awe..... It is nice to be still be remembered!!!! A little bird forwarded this post to me. So I have to respond in this one and only response. I am flattered that you are concerned about my financial state. But you can rest easy knowing that i and my trucking company, now with 17 trucks and 22 trailers and brokerage are doing very well. All are company drivers as I did away with O/O's. As to the sharing of my knowledge of how to be successful in this industry?? I don't have the time nor do I care... Many self proclaimed experts on this site......

 

when it comes to that you bounce down and file bankruptcy and they get nothing unless you have tons
of assets.

 

And you're doing it all at $7.00 per running mile.

 

If you are self insured, you have assets.

 

Or, like the Mega carriers you lease all your trucks to A shell holding company.....

 

Problem with self insure is you don't have the legal team the insurance companies have. Attorneys will have all your money before you ever pay a claim.