Insurance companys that insure new Owner Operators

It's no big secret. There are so at variables that it really doesn't matter what one guy is paying. My cost for insurance is not going to be the same as yours.

 

What state do you live in, and how's your driving record? Here in California a new start up with a good driving record is gonna run $10,000 to $14,000 for the first year. On your first renewal, without any claims, tickets it should drop $1,000 to $2,000. It'll continue to drop year after year (without any claims, or tickets) until it gets down to around $7k, $8k.

The way insurance works, you put down roughly two payments and pay the balance off over 10 months. The last two months of your policy, you don't pay, instead you save for the renewal. And with a good insurance company on your second year, you can get on a continual policy where you just make the payment every month, no more down payments.

And if you have the right equipment, you're running steady, hauling decent payingloads, and know all your expenses, your insurance and truck payment aren't a big deal.

You should be earning from $3,000 to $5,000 a week on average. What takes out a lot of guys in this business is they don't do their home work before jumping in, they don't manage their money right, they don't know what their operating cost is, or they just don't have the drive it takes. A lot of guys become Owner Operators and think they don't have to work as hard. If you're going to make it in trucking, you have to be willing to work harder than ever before. Nothing comes easy.

 

I've been on the road. First time I've sat at my computer for a while. I pay 15k a year. Paid 13k with a local company here in NM, but they dropped me when I went with team drivers. I just got my CDL. Adding myself to my insurance cost me an extra 98 dollars a year.
Very sorry for my late reply.

 

I'm not gonna kid you...we've been calling all around all morning...it's really tough on startup...even though I've had my CDL for 30 yrs, my spouse for 14, clean and clear MVR & offering to send documents I'm a FL certified driver trainer for CDL drivers...they still don't give a #$%@...unreal high startup, really high payments then trickles down after several years--- if you can last that long. I'M CALLING TRUMP!

 

Regulation is killing everything. Can't we go back to the good ole days. Where the free market was free from regulations!

 

Trump is our only hope.... but sleezeballing congress is another story.

 

Unfortunately, the insurance cost for all of us isn't getting any cheaper. I personally don't see how new hotshot start ups can pay $1000/month or more and make it in this business.

 

It's going to be a scary 6 months to a year when i start. Thats the problem. I really need to start off with loads, Not muddling around trying to find loads and uship aint gonna cut it, Be very rare to use them.

 

You'll do fine! 6 month mark might be still catch up on some bills but that 1 year mark you'll be smilin'! As the best advisors on here keep saying, work hard, talk nice and keep going and we'll make it!

 

I will say it does seem pretty daunting when I see loads (10-20k) going for 1.05, 1.08,1.10 a mile. I don't see how people can pull them for that price. Granted this is on a free load board..... are the paid load boards better rates?