Did your insurance go up this year?

Discussion in 'Expediter and Hot Shot Trucking Forum' started by crocky, Sep 1, 2021.

  1. crocky

    crocky Road Train Member

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    When running my old 2007 F550 my insurance rate was $9,882 with Progressive. That was out of FL hauling cars/freight to all lower 48, my 2nd year in business. My 1st year was roughly $12k/year.

    When I bought my new truck a 2019 Chevy 5500 I had to pay $2,5k that month just to add it to the policy and my monthly went from high $980ish to $1,1k. I was ok with this because I understand it would go up with a new truck.

    This was in Jan of this year when I bought that truck new. Meaning at that point my policy was roughly $12k/year which was an acceptable rate increase for the new truck. However, my last 2 payments of that policy should have been the normal $1,1k & $780ish.. That would be July and Aug but instead, they hiked my rate out of the blue. I had to pay $2,5k in July and $1400 in Aug. Meaning they jacked up my rate at the end of my policy by roughly 2k. This meant my yearly premium for that policy year was roughly $14k after all the increases.

    I'm now entering my 3rd year. Just got my policy quote, zero claims, no tickets, the only thing I've even had was a reverse light was out on a DOT inspection.. They're jacking my rate up an additional $1,3k with no changes to the policy just an additional $1,3k increase.

    Meaning now my rate would be roughly $15k. I know some guys here pay absurd amounts and would think my rate is great but when you look at the reality of it, I've had roughly a 50% rate increase since adding my new truck. That is insane.

    I'm having them run a new quote to see what the difference is if I go back to my 2007 F550 because I'm not paying $15k/year on top of a truck payment. It's absolutely absurd what these insurance companies are doing..
     
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  3. Judge

    Judge Road Train Member

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    A lot of insurance companies raised rates.
    People died, they had to pay, your paying for the epidemic.
    They tried that on me, then when I called and questioned, they said they screwed up, and went on and honored it.
    I told them my personal policy was 11 years old there, did they screw up for 11 years straight?
    I then got a new policy with another company, full coverage for $20/month cheaper than what was liability only..

    Try calling either Jed Angell insurance from Centralia Mo or Jay James insurance in Searcy AR, they’ll run quotes and usually save on commercial policies
     
    Willmann30 Thanks this.
  4. ibcalm19

    ibcalm19 Road Train Member

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    Someone has to pay when others won't. I hope mine doesn't go up. I have two more payments for the year.
     
  5. rccarlson22

    rccarlson22 Medium Load Member

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    I haven’t renewed since January. It did go up 1.2k a year, basically $100/month. But then I got the F650 and it went back down.

    It’s just a little inflation, cmon man!
     
  6. crocky

    crocky Road Train Member

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    It's not inflation when my rate has increased 50% since I added the truck. Its highway robbery.
     
  7. rccarlson22

    rccarlson22 Medium Load Member

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    Covid has increased the wealth of the top 650 billionaires by $1.2 trillion…
     
  8. crocky

    crocky Road Train Member

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    Yes and a certain someone decided those billionaires needed even bigger tax cuts at the expense of all us people who work for a living and somehow that was supposed to trickle down to us common folk like it's never done since they 1st started the ######## lie in the 80s..
     
  9. Lite bug

    Lite bug Road Train Member

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    They have been able to adapt and overcome. Some business failed at the same time. The new carbon credits will make billionaires out of millionaires. Funny how some things are easy to see coming.
     
  10. rccarlson22

    rccarlson22 Medium Load Member

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    It’s easier to adapt and overcome when you have every variable stacked in your favor…
     
    Lite bug and gentleroger Thank this.
  11. crocky

    crocky Road Train Member

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    Large stacks of money make it much easier to stack the variables in your favor. Much worse, is when you get to that level you don't even have to use your own money anymore because you have the ability to create fake equity to get unlimited loans then just write away the risk.
     
    Last edited: Sep 4, 2021
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