Insurance Prices?

When I got my authority it was around $14k first year... $2750 down, $1250 per month for 9 months... running my own numbers

 

Run the #s , do your homework.

Carriers aren't giving the insurance out of the goodness of their hearts for leasing.

It's profitable, quite profitable for us to lease people on.

But maybe for now, if $10k is allot to consider, you're not quite ready for the O/O gig possibly.

I don't mean that to be rude it's just honest.

 

It all depends on how much cash you have... do you have enough cash to buy the insurance outright? Running your own numbers also includes Plates, authority and documents, etc... Truck is only the beginning

 

It'll go up when you run your own numbers... They dont care who you drove for before.. the moment you activate that authority you are a NEWBIE... with NEWBIE rates...

 

It’s hard to justify paying $20 k a year , when You can lease onto a carrier who will provide it for free. Unless you can get some high dollar freight. Beware of leases that charge you back for the Liability, in that case better off on your own. Also the cost of taking time off needs to be figured. They higher the fixed costs, the more of a slave you can become.

 

I got a buddy at CFI and they pay for everything even plates... he makes like $1 a mile drop/hook... he told me he takes home about $2600 a week...

 

I wouldn't count on it going down in a year or two either, it would be nice if it does, but it seems like insurance companies are playing games the last few years.
I got my first authority in 99, and after a lot of shopping, had to agree to not put another driver on for a year, but it went down in a year and I put a couple of drivers on then added some owner OP's. A couple of years later I started getting a discount and even had extra insurance for BC. I kept bobtail insurance on one truck for several years after I moved up here to keep that authority active, but they finally deemed me inactive. I had all ready gotten authority for Alaska, so I would not have to mess with all the paperwork of a 48 state authority. No claims and my insurance just keeps going up.
Last year I got a seatbelt ticket in my pickup, when it was time to renew my insurance, progressive wanted to double it for that one ticket, the only thing I have had on my record for 10 years or more. I changed insurance and just bought insurance strictly to haul logs, noo general and no cargo, liability and it still cost me 3000 more than last year. I figure that 15 dollar seatbelt ticket will be worth at least 15 grand over the next 5 years. I finished hauling logs 3 weeks ago and it will be a few months, so tried to drop it down to bobtail insurance, to keep it active. They will not do it, they claim that is how they get my insurance so cheap is I have to pay the full policy all year, even though they knew I would only be running 6 months at the most.
I now need to put full insurance back on my haul road truck, it seems most companies will not even insure for the haul road anymore, and so far the ones that will want any truck in my name on the same policy, weather it is licensed or not, not sure how this battle will turn out.