Insurance companys that insure new Owner Operators

Discussion in 'Expediter and Hot Shot Trucking Forum' started by Menchaca0807, Jun 29, 2017.

  1. Menchaca0807

    Menchaca0807 Bobtail Member

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    Mar 6, 2017
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    hello I'm going to buy my first truck and start my own authority and lease into a company but the issue I'm finding is a lot of insurance companys won't insure first time companys and new cdl drivers so what companys do you know and what are there ball park ranges ?
     
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  3. Midwest1

    Midwest1 Medium Load Member

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    There aren't that many companies will to write policies on what your talking about. Progressive was one and I have heard they aren't doing so anymore.

    Whatever company you find it won't be cheap. I said this in a prior post on the same topic. The insurance cost for new hotshot startups will price most out of the business. I just don't see how guys are paying over $1000/month and making it.
     
  4. StrokerTSi

    StrokerTSi Medium Load Member

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    In my first year with new business, new authority, new cdl hauling cars my progressive policy is 2200+ a month after I put 5k down. They know alot of businesses fail and/or have problems in the first year, they want their money upfront.
     
  5. Ryan S2016

    Ryan S2016 Medium Load Member

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    I have Progressive for my personal vehicle and when I got commercial coverage for my truck and trailer it was easy enough. They even asked me if I wanted my personal vehicle added but I declined. As far as I know they still are not taking new entrants. What baffles me is I have $1 Mil and $150 K cargo with full comp and collision on my truck and liability on my trailer and I'm still paying less than $1,000 a month. Seen some guys on here saying they are paying over $2,000 I don't get it. I hope you find a good insurance provider Good Luck
     
  6. swaggerjacker

    swaggerjacker Medium Load Member

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    Progressive is insuring startups. I'm one of them. We pay much less than 2k per mo for it. I just put myself on my policy. It cost me (as a new CDL holder (one day) clean mvr) 98 dollars extra a year. Next year my insurance will drop dramatically.
     
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  7. Midwest1

    Midwest1 Medium Load Member

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    Jan 22, 2014
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    So how much?
     
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  8. V c2c

    V c2c Light Load Member

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    Lookup coastal trucking insurance. They write 4 hallmark. Ask 4 Simon(Sam). They started me up when I first got my authority. And we're half of what all the other first time insurers were.
     
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  9. kimbosa

    kimbosa Medium Load Member

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    Good info! Thanks
     
  10. Anj

    Anj Light Load Member

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    Oct 31, 2016
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    What are you paying per month? Thanks
     
  11. Anj

    Anj Light Load Member

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    It always goes quiet when it comes to what o/o's are paying for insurance. I don't see why.
     
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