Upfront cost for insurance

When such a vague question is asked expect a really vague answer. Really it depends on amount of cargo insurance. If you go with the minimum 750 or the more customary million, the radius you wanna run as well as what wagon you are pulling. I'm gonna assume this will be a new venture business which matters too

 

$13,500 for me, due in full. 6th year in business this year.

 

Up front insurance cost will depend on:
1) Your yearly premium from the company that insures you
2) If they offer credit, how good your credit is (many commercial insurers DO NOT do payment plans)
3) The finance charge the insurer charges, which varies from 2% to 18% per month

If you go with a bottom feeder like Progressive they want at least 20% up front, so lets say your first year premium is $15,000 you will have to pony up at least $3,000. My fleet renewal is $10,000, my brothers one truck operation cost him $4,000 up front the first year and his renewal this year was $6,000 first payment, $2,500 monthly for the next 6 months, then he is good for the year. If he paid in full at renewal he would have saved about $2,500.

 

I obtained my own authority on January 1st this year. My insurance carrier required a $1,554 deposit. Balance spread out over 12 mos.

A lot of it can depend on your credit score.

 

I paid 1200 up front and 600 a month.

 

Mine was first and last up front. Finance charge is 3% iirc.

 

Hey Scooter
If you don't mind me ask'n...Who is your provider, that seems pretty fair.