I currently have physical damage insurance for $ 69,995k (covers my rig) and $1,000,000 auto liability. I'm here trying to register with brokers and there all asking for 100k cargo. How much more am I looking to spend. I know u guys aren't insurance brokers but a lil insight of what you guys paid/ are paying for it would really help. Thanks in Advance
new authority HELP!
Discussion in 'Ask An Owner Operator' started by Alesanchez1991, Jan 9, 2017.
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It's been a long time since I set mine up but I thought you had to have cargo insurance before Feds made your authority active. I can't help you what $100k cost I have a lot more then $100k as some of my shippers require more. But just starting out it'll be spendy prob
tbdieseltrucking and Alesanchez1991 Thank this. -
Well that's what I thought too. When I set up my insurance I told my broker to give me only what I need to get my authority going and that's what she set me up with. Honestly I know I sound dumb but I just hit the wall when she said it would be at least another 5k
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Sounds about right. Insurance isn't cheap
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Do you need the cargo even if your renting/leasing your trailer for the moment?
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DriveStyer and Alesanchez1991 Thank this.
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ROUGH NUMBERS (Cargo/Liability,etc)
If you will be hauling Dry van loads you are looking at anywhere from $12-$15k your1ST year as new carrier authority.
Reefer - Around $13~$20k
$2500 deductible
Welcome aboard!tbdieseltrucking, Mattflat362 and Alesanchez1991 Thank this. -
The cargo will be cheap compared to the liability. Don't sweat it if you've made it that far.
I have a deal added on to my authority that gives me 100k cargo so I can haul general freight if need be and I think it was around $750 for the year. My other cargo insurance costs a little more.whoopNride and Alesanchez1991 Thank this. -
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