Insurance Prices?

Discussion in 'Ask An Owner Operator' started by TruckerPete1990, Apr 14, 2019.

  1. TruckerPete1990

    TruckerPete1990 Road Train Member

    Jul 16, 2012
    Rogers Arkansas
    Looking at starting my own Authority. about how much would this cost me to run my own Authority and keep up with it? I'm finding insurance prices to be really high almost 8-10k JUST for truck insurance. Whats the best company to use for insurance?
  2. DUNE-T

    DUNE-T Road Train Member

    May 10, 2015
    Detroit, MI
    Anywhere from 12k to 60k, depends on who you are, what you are, where you located, equipment, coverages, e.t.c
    KB3MMX, Dave_in_AZ, PE_Trans and 2 others Thank this.
  3. TruckerPete1990

    TruckerPete1990 Road Train Member

    Jul 16, 2012
    Rogers Arkansas
    That's what i was thinking Thank you
  4. shogun

    shogun Road Train Member

    My folks just got there own authority a few months ago. Right now it’s 18k through progressive hauling a 7 car trailer, they require some extra coverage to haul cars. Doesn’t matter that my dad has almost 50 years experience. Another guy is paying $41k, he’s 27 years old and about to start hauling cars. That’s insane.
    KB3MMX and Dave_in_AZ Thank this.
  5. PE_Trans

    PE_Trans Road Train Member

    Jul 12, 2017
    Insurance prices are all over the place for everyone. Several factors go into it, but you can lower your insurance cost by requesting more and more quotes. Progressive and Great West are among the highest, but also most reputable companies. Make sure your insurance provider is AM Best rated as some brokers won’t work with you. You also want a rating of an A or greater. Finally, be careful about companies quoting you for less than 12 months. Run the numbers to convert it to 12 months to see if the cost is worth it.
    KB3MMX and 062 Thank this.
  6. 062

    062 Road Train Member

    Oct 20, 2013
    I can tell you that progressive will jack the rate up when you go to put the policy in effect. Quoted me 9.5k actual price was 14.5k
    KB3MMX, Dave_in_AZ and PE_Trans Thank this.
  7. I glide 47

    I glide 47 Road Train Member

    Jun 3, 2017
    How goes hauling the yard bird's
  8. Rideandrepair

    Rideandrepair Road Train Member

    Aug 8, 2015
    Just for Truck Ins. ? Surely the quote included 1 mil public Liability, main cost, 100 k cargo not much. Add collision, fire , theft. I’m currently at $8300 per yr. $1000 deductible on each vehicle 1 Old Truck 1 old TrI. $1000 fed on cargo.Going on 15 yrs now.Started at around $6000 yr back then as I remember. New Authorities are getting hit as much as double the rate for first few yrs. from what I’ve heard. Keep looking , try Northwest, so far so good.
    PE_Trans and KB3MMX Thank this.
  9. bigguns

    bigguns Road Train Member

    Jun 13, 2013
    May 2018 to May 2019 was my first year on my own. Georgia which is extremely high anyway, 93 W9, 2013 hopper, 2015 step deck, 1 million coverage, 50,000 cargo, unlimited mileage, and exempt only, the premium was $17,000. This year with full authority the premium is $14,000. If I pay the premium in full it will be $12,000. I paid it on Friday. These numbers include full coverage. Fire, collision, theft, etc.
    tommymonza and KB3MMX Thank this.
  10. KB3MMX

    KB3MMX Road Train Member

    Dec 29, 2014
    Shippensburg, PA
    If you can find $8-10k insurance as a new carrier... JUMP ON IT ASAP !!
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