Man I need some questions answered about O/O. I’m going to get my MC number and run in as O/O but #### is insurance really going to run me $1200-$1500 a month? Seems a bit steep to me but I wouldn’t really know. Also, are you having to run a business license as O/O? Not a big deal but I just need to make sure I have it alon with my insurance before I file for my MC #
What’s it gonna run me?
Discussion in 'Ask An Owner Operator' started by Driftwood1990, Jan 3, 2018.
Page 1 of 2
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
Think about it this way.....When you have 500k-1mil+ of product in your box/on your deck and s..t goes upside down, your insurance will have to foot the bill for the said product.
Shop around, but 1200-1500 a month for a new authority isnt unheard of.Keepforgettingmypassword Thanks this. -
File for your MC whenever you're ready. Insurance won't go active until after that anyway. You're a month maybe 2 away from going active. And that's at least 2 weeks after your down payment for insurance.
Everything is gonna be kinds high in the beginning. Just keep your nose clean and your renewal should be much cheaperKeepforgettingmypassword Thanks this. -
mrbamcclain Thanks this.
-
1200 to 1500 is about right for new startups. I know couple drivers that paid about 1800.
Keepforgettingmypassword Thanks this. -
Insurance is a lot less expensive if you limit your coverage to a 500 mile radius.
Doing_flatbed_nc Thanks this. -
Agent says that after the first year I should be able to increase my radius with no rate increase.Keepforgettingmypassword Thanks this. -
You wanna get in the pool? or naaah?
Insurance is one of those things that you WILL NOT be able to control, as a new entrant.
That said, then you need to adjust what you can control, so that any realized savings, are applied to the insurance pain.
I fuel @ KROGER....I know, I know, the pumps are slow, but hey, 2.56/gal beats $2.99/gal at Truckstop. 200 gallons saves me $85 per fill up X 4 trips = $320+ which I slap into my insurance pain.
Every lil bit helps, esp when getting into the game.OLDSKOOLERnWV Thanks this. -
Yup i pay around 1500 for my first year , 3500 to 4500 down . Not many will insure you but Progresive will . Make sure you have deep pockets .
-
It depends where you are, but I think the insurance companies have tightened up on new entrants and the rates have gone up.
Average rates are probably 12 to 15 thousand. When I was calling around for insurance one of the agents told me she just signed somebody for $26,000 a year.
Insurance rates are high right now, at least that's my opinion.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 1 of 2