How much is owner op drive-away insurance for a new owner getting plates

Discussion in 'Ask An Owner Operator' started by davictor685, Feb 21, 2023.

  1. davictor685

    davictor685 Bobtail Member

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    Feb 21, 2023
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    I understand that there are variables to this question. Basically, I would be willing to do class B or less only if it was a huge difference in insurance from also getting class A. I'm from Indiana and there is a lot of drive away in my area. The information hardest to find without putting the cart before the horse is what people typically have to pay for trucking insurance. I experienced this before as I was bankrupted when I tried to get my own OO authority, and I expended all of my credit just to get everything ready aside from insurance, Only to find out that the insurance was more than I could afford at that point. I didn't buy a truck to run for someone else, I would've just stayed a company driver. With drive away, at least I can cut the cost of buying a truck and trailer, and all I'd have to worry about is the insurance really. So, what can I expect to pay? My credit isn't great, but my driving record is clean as a whistle other than an accidental failure to pay suspension 6 years ago. I was quoted $18k/ year for class A truck and trailer 7 years ago. Does anyone know of an insurance company that will quote me BEFORE I get all my DOT info back in order? Are there any good service which can help me cut the crap and get everything I need all in one?
     
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  3. Ridgeline

    Ridgeline Road Train Member

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    CALL the companies that you think you will be working for and ask them.
     
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  4. OscarGoldman

    OscarGoldman Light Load Member

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    You can't afford it..... Get your personal affairs in order first...
     
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  5. fortycalglock

    fortycalglock Road Train Member

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    If everything BEFORE the insurance payment bankrupted you, you weren’t in a position to even start this. Good news is insurance has only gone up. Are you sure you can get any of that drive away freight? That stuff is super cheap anyway and meant for retirees to see the country in their F350.
     
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  6. davictor685

    davictor685 Bobtail Member

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    Feb 21, 2023
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    It pops up on Uship all the time and goes for $2/ mile. Not to mention whatever shows up on other load boards. $2/mile without having to purchase your own equipment sure sounds good to me. I wouldn't be pulling trailers, just power only drive away. There is a lot of that on Uship, not to mention all the companies in Elkhart, IN area I could contact. They struggle to get things delivered, the demand is high.
     
  7. Ruthless

    Ruthless Road Train Member

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    So what are you waiting for?
    If theres a lot of it on u ship it must be very lucrative. Go get the insurance- you gotta have it to do the work either way.
     
  8. bad-luck

    bad-luck Road Train Member

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    The factors that effect your insurance are: years of experience, driving record including accidents, credit score, replacement cost of your equipment. Your insurance will be expensive when you first start out. And in my opinion, right now is about the worst time to start. And in all honesty, owner operators who are not well established are finding it hard to survive right now.
     
  9. davictor685

    davictor685 Bobtail Member

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    Feb 21, 2023
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    Looking for insurance companies that could give me a quote before reactivating my DOT number. I might start calling tomorrow, but then my phone number will need changed a a couple months. Once those companies have your number, somehow the whole world gets it.
     
  10. OscarGoldman

    OscarGoldman Light Load Member

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    Can you afford a minimum of $50,000 a year?
     
  11. Ruthless

    Ruthless Road Train Member

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    Once youre active, phone number is public and youll get calls n texts all the time/emails too
     
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