Factoring/New Authority

Discussion in 'Ask An Owner Operator' started by jodyj54, Mar 15, 2018.

  1. pullem

    pullem Bobtail Member

    Jan 17, 2018

    Is she still in business? I would love to have a good dispatcher.
    Boundtransport Thanks this.
  2. Miroh

    Miroh Light Load Member

    Oct 3, 2018
    Yeah I just shook my head at that remark.
  3. QualityDrivenGirl

    QualityDrivenGirl Bobtail Member

    Oct 18, 2017
    We went with OOIDA insurance and they gave us the list of companies we couldn't carry for. My thought process here was that they were probably saving us from being put through any ######## they experienced with those companies. I had someone in another thread say it was actually the companies denying OOIDA insurance. Does anyone know this for sure? Pretty much all the insurance quotes we received were within 2k a year difference of each other, but OOIDA didn't make us pay an enormous down payment like others.
    I've noticed its far too rare that people want to help each other succeed on here, which I find sad. We're already working with the American capitalism stacking the deck in extreme favor of large corporations, leaving the rest of us to fight against a system that wants us to fail. That said, we're in PA so is really appreciate opinions on insurance and recommendations on options they may be better for us. Thanks in advance.
  4. Scooter Jones

    Scooter Jones Road Train Member

    Apr 19, 2011
    It's too bad your perspective is that forum members don't want to help each other out. Because there are threads FULL of folks giving advice, insight and assistance.

    Insurance rates, as you've discovered, can swing wildly from one extreme to the other. So many factors go into the underwriting process.

    As far as suggestions for company options, have you contacted Hub International and asked them to provide a quote?
  5. Pepper24

    Pepper24 Road Train Member

    Apr 19, 2016
    its been a number of years ago so I don’t remember exactly but Ooida insurance if I remember right is very different from what I call regular insurance companies it had something to do with not being true regulated program but as I said I don’t exactly remember but it was the way they wrote there policy that was the problem not them looking out for you with certain brokers it is the brokers not willing to use them which I decided I didn’t want to limit myself on brokers I could use
  6. Miroh

    Miroh Light Load Member

    Oct 3, 2018
    I only use OOIDA for their consortium.

    My insurance is through Progressive which I found to be...middle ground. I didnt want the cheapest from some company who got my DOT number through a database and when the time comes...dont want a hassle for a claim. My motorcycle policy is through them as well. Right now, only doing this for...3 months? It's running me around 12k a year with full coverage on a new truck and trailer as well. Not only is my liability for 1 million but also my own person health coverage if I end up hurt in an accident. They also offer discounts for certain elogs so they can monitor your safe driving and continue to give discounts for a safe record while continuing with them.

    But for others on this thread, I use APEX capital for factoring and haven't had a single issue with them so far.

    Anyway. Cheers!
    Last edited: Apr 27, 2019
  7. TallJoe

    TallJoe Road Train Member

    Apr 12, 2016
    I don't have OOIDA insurance but in all of the broker-carrier setups I had, I never saw OOIDA insurance listed as unacceptable. I don't even recall, if Landstar setup listed them as such. The only insurance requirements, I've seen so far, were the limits and sometimes insurance ratings, for example they may not want anything lower than B or B+. I heard that OOIDA is not rated, so that could be the only problem with some brokers but it seems that a lot of people are with them, so it can't be a big deal.
    I guess, whether or not an insurance is good is determined in case of a nasty claim.
  8. HopeOverMope

    HopeOverMope Road Train Member

    Feb 25, 2016
  9. RunningAces

    RunningAces Light Load Member

    Jul 2, 2017
    I am not a lawyer but I have been told by one that the best way to protect your home from lawsuit is by placing it in an irrevocable trust. Sorry about contributing to the derail.
  10. Miroh

    Miroh Light Load Member

    Oct 3, 2018
    Wait, what derail?
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