20% insurance rate hikes coming?

The good news is it should thin the herd a bit.

 

It wont "thin the herd" because the freight still needs to be moved. All it will do is move more into mega territory.

 

Cost of living, trucks, parts, fuel, health insurance, mechanics will rise...

Rates will stay the same...

This site will still have someone come on everyday who just got a CDL yesterday and bought a truck today, now wanting to know which brokers pay the best...

Freight brokers will continue to post multi-million dollar profits...

The cycle continues....

 

Don’t you believe anything that Bert Mayo tells you; his rhetoric is, of course, shared by all the other company schills in the insurance industry.

Truth is, is that all the insurance companies are all making record profits, regardless of whether they tell you otherwise. In fact, the insurance companies are all making so much money that they have created their very own banking system to invest... and to lend, with interest, all those enormous, excess profits.

The language of ‘profit losses’ and ‘higher operating costs’ and ‘consumer insurance fraud’ is all intentionally falsified information to justify further rate hikes that are always in the works...... more money...more money...more money...

 

What is the source?

Claiming that the insurance companies have paid 120% of claims for 7 or 8 years running is unbelievable. Typical loss rates are 70-80% of premiums, and no company could survive more than a year, maybe two, operating at what would amount to a 40% operating loss.

That said, insurance rates have been on the up swing pretty dramatically for a few years. I refer to it as the "texting while driving" tax.

 

Good. Based on the number of dumb ####s I see on the roads these days a lot of companies deserve the hike.

 

The guy I’m leased to just renewed ours and Great West lowered the premium a bit over last year.

 

There are some changes taking place now. At first OOIDA told me I couldn't hire anyone with less than 9 years of experience. I just received an email the other day saying they were incurring too many losses and now they will only provide coverage for those who have been with them for 2 years. So it looks like , if you want to hire someone Progressive will be the only option .