What insurance coverage is the toughest to get good rates on? I'm a broker, and interested in areas to target for new customers.
Thanks!
Insurance
Discussion in 'Ask An Owner Operator' started by Hold Fast, May 17, 2018.
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Toughest how?
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Toughest to get good rates. Which line of insurance is the hardest to get fair rates on?
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No offense but if you are a broker shouldn't you know the answer to your question. You should know so when customers come to you you can steer them to the best rate and coverage they need.
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No offense taken. From state to state the answer is different. What I've seen in Chicago doesn't mean there aren't other issues, and other coverage's that are difficult to place.
If I said that I knew what the toughest lines of coverage are to get fair rates, you just as easily could have said "how could you know, unless you're a trucker?" -
New Authority is the toughest.
I don't know what you can do about it but those rates are crazy insane expensive. In my state of Pennsylvania the only insurance company that I could find is Progressive. And I physically called and called and called and called other companies.
Every company every agent every broker routed me right back to Progressive.Hold Fast Thanks this. -
Every company seems to have it's 'thing.' Hopefully Progressive continues. -
Hopefully other companies enter the market and there's more competition and rates go down.
It's a ridiculous notion that there is only one insurance company to choose from.
And I have had my CDL from the beginning of CDLs with no accidents no issues and years and years of experience.
That's a sad State of Affairs.Big Road Chris, Mattflat362 and Hold Fast Thank this. -
what are rates going around for people with new authority???[/QUOTE]
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Commercial liability for start up companies is the most expensive and most difficult to obtain. If you could get licensed in several states, find a handful of insurance carriers that are willing to write new policies on new trucking companies, and can offer decent customer service, you would do great. Even better if you could find one or more carriers that will give you the ability to field underwirte prospects to offer a ballpark quote, that would put your services in demand.
Big Road Chris and ovosquad Thank this.
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