What's best experience level for O/O insurance?

Discussion in 'Ask An Owner Operator' started by WildTxn, Feb 23, 2018.

  1. Sidelined

    Sidelined Light Load Member

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    Sep 1, 2011
    northeast, MS
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    Where did you get it for that rate? Im gathering quotes myself.
     
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  3. Gumper

    Gumper Road Train Member

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    Jan 7, 2018
    Butte, MT
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    Progressive, unfortunately. They’re the only ones who would take me. My cousin is a commercial agent for Payne West, so he handled everything. It would have been less, but I have one speeding ticket in a personal vehicle from three years ago that jacked the rate up a bit.
     
  4. Hurst

    Hurst Registered Member

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    Aug 24, 2011
    Tampa, Fl
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    I agree with this. My first truck was a lemon and I failed miserably. A lot of people dont know this.

    I wanted a pretty truck,.. Peterbilt and CAT were the best names in the business. How ever,.. a CAT C15 with DPF can make or break a new O/O and it broke me.

    My second truck that I still own was ugly as sin. How ever it had an engine and drive train that were reliable as an old dog. Yes I've put considerable expense into that truck. But when I can go 10 - 12 months with only minor maintenance, PM's etc,.. its worth the peace of mind to me and I will continue putting money into that truck until it can no longer serve my needs.

    So bare in mind when searching for a used truck to buy. No one sells a perfectly good money making truck. If a truck is profitable it makes no business sense to sell it.

    Hurst
     
  5. Sidelined

    Sidelined Light Load Member

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    Sep 1, 2011
    northeast, MS
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    I talked with a progressive agent, claimed they cant write trucking policies in MS. Which is bs, the carrier Im currently leased to has progressive from the same town Im from. $12,000 per year isnt bad from what Im hearing so far. I hope to have some more quotes in this week.
     
    Gumper Thanks this.
  6. WildTxn

    WildTxn Light Load Member

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    Feb 19, 2018
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    The insurance industry is soooo full of corruption. For illustration, they have to invest all the money they collect somewhere. Where? The health insurance industry invests in the very hospitals and doctors they have to pay! Can we say Preferred stock! I.E. They get paid before any other holders. Lets say, Joe driver goes in for an analcranalectomy, they charge him 20,000 with a 10% co-pay. At the next dividend issue, the insurance company gets the 18,000 back, and the co-pay actually pays for the real cost and overhead. The biggest racket since the mob, and legal too.

    For auto and truck, most can charge a small fraction of what they actually charge, and still make a nice profit.
     
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