This is one way the independents and small companies could be forced out of business. Larger companies are self insured and don't have to deal with insurance companies.
Independent insurance Cost for new carriers
Discussion in 'Ask An Owner Operator' started by Annonymous, Jun 30, 2017.
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JimmyWells Thanks this.
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No sir. Not 20 years. Over 20 years AGO.
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There also is very little shopping around. Only certain companies are insuring new entrants, creating a virtual monopoly. Progressive gave us a quote in September for $9000 if we paid it up front, but by the time we bought a truck in November they had stopped insuring new entrants. Apparently they're back to it now, at a 300% markup.
I'd much rather see a level playing field across the board than certain rules tailored to create a much larger gap between the haves and the have nots.Skate-Board and SL3406 Thank this. -
But..but...but ELDs are supposed to "level the playing field" of the industry.
serozhah, OLDSKOOLERnWV, Ruthless and 1 other person Thank this. -
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Sorry about the mix up. One of the problems with conversation in a forum is one can tend to get out of turn....
It isn't ideal, but it's also not discouraging and it's actually satisfying that all the saving you did makes the conversation more than just academic. If I hadn't laid back a considerable amount before even entering this arena, it would just be too much.
I always wonder, though. If it's like this for me? Where do all these other folks that are running on a shoestring getting the startup from? How are they managing to fork out the dollars and still look at the venture as profitable?
Then I realize, I don't care about that. I just focus on what I'm doing and making it work. I look forward to reductions as I move forward and plan on staying around. If it wasn't for looking at the long term, it would be a bad business decision.
Anyway, I'll also update why I find on the subject. I am into 3 or 4 other companies for quotes so far. I am also waiting to shop OOIDA until last. See if that membership money really does what they suggest or say it does.
All the best, Red. -
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Annonymous said: ↑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.Click to expand...Last edited: Jul 20, 2017
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Annonymous said: ↑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.Click to expand...Annonymous Thanks this.
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