$80,000 trailer ins

Discussion in 'Ask An Owner Operator' started by Excorcist1, Apr 16, 2013.

  1. Apr 16, 2013 #1
    Excorcist1

    Excorcist1 Light Load Member

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    Chestertown, MD
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    Working on getting my authority. Found a local guy running reefer trailers in a 500 mile radius. Said I must have 100,000 cargo and 80,000 insured for trailer exchange. Insurance company saids thats excessive, because he can buy a brand spanking new reefer for under 65,000. So I'm asking you owners, is 80,000 excessive coverage? I need to know, so I know who's side to be on. First year owner op. So I know my ins rate gonna be sky high as it is.
     
    Excorcist1, Apr 16, 2013
    Excorcist1, Apr 16, 2013
    #1
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  3. Apr 16, 2013 #2
    snowblind

    snowblind Heavy Load Member

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    yes it is high, but if thats what he wants whos to argue
     
    snowblind, Apr 16, 2013
    snowblind, Apr 16, 2013
    #2
    Excorcist1 Thanks this.
  4. Apr 16, 2013 #3
    mcgoo422000

    mcgoo422000 Medium Load Member

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    I think it's called reefer breakdown policy
     
    mcgoo422000, Apr 16, 2013
    mcgoo422000, Apr 16, 2013
    #3
  5. Apr 16, 2013 #4
    Excorcist1

    Excorcist1 Light Load Member

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    Chestertown, MD
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    Ok, thanks. Insurance agent is telling me he's got to be kidding. But I double check with the company owner and that's what he requires to haul his loads.
     
    Excorcist1, Apr 16, 2013
    Excorcist1, Apr 16, 2013
    #4
  7. Apr 16, 2013 #5
    Marlin46

    Marlin46 Medium Load Member

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    Atlanta, GA
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    For trailer interchange $25,000 is the standard amount - obviously if it his company then he can call the shots but I would really question why. Granted pulling new reefers I would want to be fully covered but 80 is excessive. If you total his trailer the insurance company more than likely will go out and buy him a brand new $65,000 trailer no matter if it insured for $800,000.
     
    Marlin46, Apr 16, 2013
    Marlin46, Apr 16, 2013
    #5
  8. Apr 17, 2013 #6
    dannythetrucker

    dannythetrucker Road Train Member

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    It's excessive for sure, it would be almost impossible to wreck a trailer bad enough to where they couldn't salvage out axles, wheels, reefer, etc... even if your insurance came up a bit short.
     
    dannythetrucker, Apr 17, 2013
    dannythetrucker, Apr 17, 2013
    #6
  9. Apr 18, 2013 #7
    Excorcist1

    Excorcist1 Light Load Member

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    Jan 11, 2012
    Chestertown, MD
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    That's almost what the agent said. She said brand spanking new reefers were 65,000.
     
    Excorcist1, Apr 18, 2013
    Excorcist1, Apr 18, 2013
    #7
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