Are these insurance quotes reasonable???

I am a newbie, had the same problems running around to get a good quote, at one 23k, 19k and 26k but i ended up at 14k through a broker from progressive...Crocky is correct the moment you put car hauling those numbers go crazy especially here FL . As a smalll start up its rough with these insurance companies.

 

that is a crazy rate. I have a 2019 pete Cottrell cx9 and pay 17k for the year for liability and 3k for 350 in cargo. with the expense of fuel and truck payments on top of insurance it is tough. good luck brother you gonna need it. the craziest part is that the agent gets a 15-22% commission on the policy just for forwarding an application to underwriting

 

Been in business since 2013. Started out with a 1994 f350 and a two car trailer. Paid under 6k for the rig. My insurance the first year was with progressive and was almost 9k for the year. One year later I bought a new ram 3500 and a 3/4 Kaufman wedge. My insurance didn’t go up much. After the second year in the ram my insurance went down to 6500 paid In full price. That is where I should have stayed as far as growing my business was concerned. If I could go back that is where I would have stayed in this industry. So after the ram I went a got a used H&A truck a sterling with a boydstun screw. My insurance went to 16k for the year. That includes all the necessities to haul new cars( constructive total loss/diminished value...)350 in cargo. Now I have a bad ### new Pete and Cottrell and have so much overhead it is ridiculous!!! When I was in the ram I could do three runs a wk 700 miles round trip each and be done for the week. Now I work almost every day to pay a 4K a month truck payment and 2k in insurance. I got my cdl in 2014 once I got the ram and went over 26000 pounds

 

North Florida

 

What is MTD?

 

I wanted to update my insurance quote from Progressive...

I posted before that I was quoted 12k cash & 14k payment if I stuck to general freight. Well I wasn't able to move on that rate because getting my truck together and sorted out took longer than I planned.. I called today to get a updated rate but turns out the 1st agent did not have me set up as a "combination" truck & trailer but rather as a "flatbed truck".

Because of this, the actual rate should have been in the $16k range. About 2k more but still acceptable considering what I was quoted before but as I said "no cars" just general freight.. No cars hurts being I'm in FL..

Anyway I called today to get a updated quote.. Apparently, FL just increased their rates so my quote is now $17k if financed.. So roughly $3k more than my original quote, but that was no good anyway it seems because was for the wrong type of truck... I didn't bother asking cost for cash because that's more than I can pay in full with out cutting myself short elsewhere. (I still need to buy my trailer, chains, straps, tarps ect..)

Now 1 bit of silver lining..I had the new agent give me a quote for general freight + cars... They quoted me right at $20k with cars added to my policy for 1st year MC in FL.. This is also "unlimited range" meaning I don't need to stay with-in 500 miles or anything like that.

This is for a F350 and a 35 to 40ft trailer and doesn't matter if it's a flatbed or a car trailer..being I'm in FL and cars are a pretty decent part of the freight here I will be adding the car option as the down payment and the monthly cost is really not much different..

TBH, even if I were still at the $14 rate it would be worth it to me to add cars at that price anyway because I can do a lot of local work where I'm at running cars vs being OTR all the time , so I'm ok with that rate as a 1st year MC. Yea I'd like it cheaper, but it is what it is..


Now one other thing, is my LLC is Missouri based, I think I will call back and get the same quote but use MO as the address and see if there is a significant difference in cost that would be worth while basing my MC there.