Insurance on hold?

Discussion in 'Ask An Owner Operator' started by Awanw8699, Aug 10, 2020.

  1. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I'm traveling and will be out of country for 4 months. Does anyone know if I can put my insurance on hold/pause while my truck is parked?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. DUNE-T

    DUNE-T Road Train Member

    4,730
    9,150
    May 10, 2015
    Detroit, MI
    0
    What kind of insurance, just bobtail or do you have an active MC?
     
    Awanw8699 Thanks this.
  4. StrokerTSi

    StrokerTSi Medium Load Member

    532
    758
    Aug 28, 2016
    0
    Active mc you can but you'll be treated as a new mc when you restart payments.
     
    Awanw8699 Thanks this.
  5. Gdog66223

    Gdog66223 Road Train Member

    1,871
    2,503
    Dec 30, 2017
    Coal Town
    0
    You can put your MC on hold and Insurance but, when you come back you will be treated as a "new entity". It's sad but just the way it is. If I were you I'd just pay the insurance and leave everything the way it is. It's only 4 months.
     
    Awanw8699 Thanks this.
  6. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I have active MC. Got cargo and liability.
     
  7. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    Yes, I guess I will just pay the insurance.
     
  8. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    I will just keep making payments.
     
  9. Atlaw4u

    Atlaw4u Medium Load Member

    587
    854
    Jun 8, 2018
    0
    You can reduce your liability to the federal minimum of $750k and remove your cargo insurance. You will remain active and it willsave you a good bit of $.
    Also, see if your agent will reduce your coverage area to a 500 or 300 mile radius. This will also save some $.
     
    Last edited: Aug 11, 2020
    Awanw8699 Thanks this.
  10. DUNE-T

    DUNE-T Road Train Member

    4,730
    9,150
    May 10, 2015
    Detroit, MI
    0
    Drop it to liability only and tell them that you won't be driving for few months. This way you won't have any interrupting in your business record
     
    Awanw8699 Thanks this.
  11. Awanw8699

    Awanw8699 Bobtail Member

    5
    1
    Aug 10, 2020
    North Carolina
    0
    Great. Thanks for the response guys.

    I didn't know I could still remain active by cutting down any part of the insurance.
     
    blacklabel Thanks this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted