Insurance Rating....

Discussion in 'Ask An Owner Operator' started by Typhoon, Jun 6, 2018.

  1. Typhoon

    Typhoon Bobtail Member

    7
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    May 20, 2010
    Mesa, AZ
    0
    Hi guys....

    quick question. If a Broker is asking for an A rated insurance...i assume the rating should be about the cargo insurance right? Reason why i am asking is because my quote shows the truck liability is A rated but not the cargo which are both through different insurer. Truck liability is WESCO and physical+cargo is lloyds of london. Is lloyds of london not one of the reasons why there are brokers not working with OOIDA insurance? besides suing (landstar).

    Thanks guys
    be safe out there
     
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  3. redoctober83

    redoctober83 Road Train Member

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    Sep 10, 2013
    Seattle, wa
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    They are asking about all of your insurance, that it's all A rated. Lloyd's of London has many different companies and some are A rated and others have no rating at all. I have a Lloyd's policy for my physical damage and it's A rated.

    Talk to an insurance broker that understands commercial insurance for trucking, they should be able to help you find what you need.
     
  4. SteveScott

    SteveScott Road Train Member

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    Nov 10, 2015
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    Insurance carriers receive a letter rating from a directory called A.M. Best. The letter rating is an indication of an insurance companies ability to pay claims based on their financial status. So a company rated A+ or A would be the best. My guess is that the broker wants to make sure you don't have cargo insurance through a sub-par insurance company that won't pay for a cargo claim should it happen.
     
  5. Typhoon

    Typhoon Bobtail Member

    7
    0
    May 20, 2010
    Mesa, AZ
    0
    Thanks guys,

    just got off the phone with the agent....she put it a little weird she admitted...all my stuff is A rated.
     
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