Got my new authority need advice for insurance

But do you know the rates dispatch can get you? $30k / yr in insurance premium with 10-15% downpayment is about $3800 down plus $2200 a month premium. That's high as heck. I wouldn't do it if I cant make $2.50cpm on let's say 800 plus miles runs . Dispatch will also want about $200 a week to dispatch you . If my premiums wasnt $7400 a year , I would go lease on .

 

Where do you live?

 

Do the short range policy ( 500 air miles from your home base ). It's pennies compared to a full policy. If your dispatcher can't keep you busy in that area, he's a moron. You also won't need all 48 state plates.

 

This is good advice. Also, if 50% of your miles are within 300 then go with that air radius option.
I started with Progressive as an intrastate on only 100 miles and went up from there.

 

I have always had unlimited radius. I seldom get beyond 500 miles out anymore, so when I renewed this year I priced it both ways. Only $400 difference so I kept unlimited.

Really surprised me that it wasn't a big difference. May be more on a new authority, I have had my MC# since 1994.

 

It's a significant difference on a first year authority.

 

It's my understanding that there are only 3 underwriters covering new authorities now. Progressive, Lloyds of London ( OOIDA) and Berkshire Hathaway . OOIDA was the cheapest for me. No matter what insurance group you get a quote from one of those 3 underwriters will be on it.

 

My authority went active in November, progressive will do 10% down (or they did for me) it’s right over 21k a year, i paid cash for my truck though and spent a year rebuilding it to try an minimize expenses first year, I couldn’t image paying this with a payment, or hauling board freight, or having to wait 30+ days for money, I’ll do the year with them then hopefully I can get moved over to great west for a significant drop