$2021 PER MONTH INSURANCE IS THIS HIGH OR OK FOR FIRST YIME BUYER?

Discussion in 'Ask An Owner Operator' started by arif shah, Apr 2, 2021.

  1. arif shah

    arif shah Bobtail Member

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    Like the title say Progressive ins is give a quote of $2021per month.Thats my first truck.And this is basic coverage which include 1million liability and $10000 for cargo.My question is is this high or ok insurance. And if you paying less Or know any better companies So please let me Know..Thank you .And Always Foucas on Your Present.
     
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  3. ChevyCam

    ChevyCam Light Load Member

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    Price is on par with a recent quote of mine from progressive, 23k per year 1 mil and 100k cargo. I am still shopping around for a better premium.
     
  4. little cat 500

    little cat 500 Road Train Member

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  5. TallJoe

    TallJoe Road Train Member

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    That's a lot. Some of us here pay less than 8k per year (Liability and cargo). I'd say, 12-15K range is reasonable for the first year or two but 24K makes it almost cost prohibitive. There is not enough money to be made here to afford such high insurance premiums per truck.
     
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  6. keen98

    keen98 Road Train Member

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    I'm not sure where you're finding 12-15k insurance for a new authority in his 1st yr anymore. I'm paying $1800 a month I'm 7months in on my authority. 41 yrs old clean MVR CDL holder for almost 6yrs. And my truck is a 2006. I've been able to make it work pretty easily, but my truck payment is also only $500 a month.
     
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  7. bryan21384

    bryan21384 Road Train Member

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    Are you trying to run all 48? I saw another member suggest to someone that they should shorten their running radius to see if that helps a premium.
     
  8. God prefers Diesels

    God prefers Diesels Road Train Member

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    New entrant here. 11k per year. Progressive.

    40 years old. Texas. 780 credit score. 2007 truck. Haven't been pulled over since 2001. Price includes 25k insurance on my trailer as well. CDL for 15 years. Never drove a semi professionally in my life until six months ago.
     
  9. 86scotty

    86scotty Road Train Member

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    That is high, man that is high. It might be the new normal though. My first year was $1400/month and I had a truck payment of $1500 then as well. I probably couldn't have pulled through if not for a great market then and my wife handling most of the house bills while I got things paid off and saved up the first year.

    What are your other bills like? Tractor note? Trailer note?
     
  10. abyliks

    abyliks Road Train Member

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    My first year was $2300

    down to $1700 now, hopefully drops again
     
  11. 86scotty

    86scotty Road Train Member

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    Try paying all up front at time of renewal if you can. Mine is down to 9k a year now and with paying all at once it was down around 7. That's 3rd year, no accidents, one or two tickets, Progressive based in TN.

    I actually had to borrow a big chunk from my personal savings to make that happen last year but it was worth it.
     
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