Independent insurance Cost for new carriers

Discussion in 'Ask An Owner Operator' started by Annonymous, Jun 30, 2017.

  1. Annonymous

    Annonymous Light Load Member

    156
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    Feb 2, 2017
    Connecticut
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    General info for those inquiring:

    For 1mil auto liability
    1 min general liability
    Full coverage on a 2012 prostar and 2005 wabash dry van
    100k cargo

    Progressive: $60,000
    Downpayment: 20% ($12,000)
    Monthly Paymemt: $5,400 (9 months) 3 months free.

    This is just for me it could be different for everybody I have about a year experience driving CDL. And only three points on my license.

    Just a note:
    I wouldn't recommend most people who have under a year try to do this endeavor that I'm doing because I have alot of knowledge of the industry from my uncle's truck brokering business that I worked for years in and I also have a bachelor's in business so I have the fundamentals all in place of how to run and operate a business to the fullest extent.
     
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  3. zmster2033

    zmster2033 Light Load Member

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    Charlotte, NC
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    That's insane.
     
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  4. kimbosa

    kimbosa Medium Load Member

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    Jul 4, 2011
    lufkin texas
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    Totally crazy
     
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  5. shir1

    shir1 Bobtail Member

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    Oct 29, 2014
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    So you are paying $5400 in monthly insurance cost for one truck. Am I reading this correctly?
     
  6. Annonymous

    Annonymous Light Load Member

    156
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    Feb 2, 2017
    Connecticut
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    5400 for ALL insurances. Yes thats correct.
     
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  7. DUNE-T

    DUNE-T Road Train Member

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    May 10, 2015
    Detroit, MI
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    Check Berkshire Hathaway, should be about 16k.
    My first year with them was 14k and I only had 8 months experience. Also check OOIDA, not all brokers take them, but you should be fine
     
  8. Annonymous

    Annonymous Light Load Member

    156
    69
    Feb 2, 2017
    Connecticut
    0
    5400 for ALL insurances. Yes thats correct. For those with more experience it will be a fraction of that. But again thats not just for cargo thats ALL insurances for the business, trucks, trailer,cargo. Btw im independent, not with any company, im my own carrier and find my own loads. 100%.
    Though MY cost is i.deed expensive and im well aware of that, its more about my gross revenue. All of My insurances can be 5400 a month but after expwnses im netting aroumd $2000 a week take home.
    This is general info im supplying to those interested and insearch foe this information.
     
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  9. Annonymous

    Annonymous Light Load Member

    156
    69
    Feb 2, 2017
    Connecticut
    0
    $14k was for ALL of ur insurances or just cargo? Ive heard about them i will give them a call and see where they are at and i will post their number up on this thread.
     
  10. DUNE-T

    DUNE-T Road Train Member

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    Detroit, MI
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    Yep, all in
     
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  11. zmster2033

    zmster2033 Light Load Member

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    Apr 28, 2011
    Charlotte, NC
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    I am sure for all coverages (i.e. General Liability, Auto Liability, and Cargo).
     
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