Im looking into buying my first truck and starting a business.
I just got off the phone with ooida insurance asking for preapproval like an idiot because ooidas help guide says i need to be preapproved before i can file for my authority. But to even get a quote, i need to have a truck. So really, all i can get are ballpark quotes
So, the reason im posting.
●They told me that as the owner of the company, id have to be insured to drive the truck even though i wont be driving it, ill be hiring a couple drivers.
●They said the drivers that i hire would be required to have at least 9years of driving history to be insured...
●They quoted a ballpark guess of clean record drivers, including myself at $1,300 a month
●they said it was a 1mil primary liability coverage and 100k for cargo insurance
●they said they do not do surety bonds, so where do i get a surety bond preapproval as per ooida guide to becoming an owner operator (self broker)
●$2,000 downpayment to start the insurance
Does all that sound right? Is there a better insurance coverage out there, or any not requiring such lengthy employee history as 9years...?
Im calling back now to confirm their $1300/mn ballpark quote as i dont recall then saying it was weekly or monthly
Finding good insurance and a surety bond
Discussion in 'Ask An Owner Operator' started by Maximuswood, Mar 19, 2019.
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Progressive used to do new entrants...... you could try them.....
Progressive Commercial Insurance – Your one-stop insurance shop to quote, buy and save on all your commercial insurance needs. -
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About the only thing I see outrageous is 9 years experience. Having yourself insured doesn't cost extra, insurance is per vehicle. Not un-common to have 20-30% down for insurance. Without experience/good credit you'll be stuck with surety bonds from the likes of Pacific financial or other low rate bonds.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.