More like gross ... Not net.
With his own MC , that # would be $5000+
Carriers aren't paying for insurance at a loss just to have the privilege to work you guys out of the goodness of their hearts.... It's profitable, very profitable.
$20k a year sucks rate but honestly it's still cheap if you run steady your first year it's nothing.
Beats the hell out of paying 25% of $250,000 - $300,000 to the MC holder as a Fleece operator. (Landstar...Ahem)
Do the math they you still are way ahead with the MC# ...
The difference is what some people make in a year alone working.
Insurance Prices?
Discussion in 'Ask An Owner Operator' started by TruckerPete1990, Apr 14, 2019.
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Rideandrepair, PE_T and KB3MMX Thank this.
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Rideandrepair, PE_T and KB3MMX Thank this.
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The Large Carriers are self insured. Meanwhile they’re lobbying for higher liability minimums, which would increase our rates even more. Funny how these same Carriers that got into trouble in the past, forcing themselves into satellite tracking, open for DOT inspection, now have successfully forced ELDs on everyone, So called Safety Proposals. Since Deregulation these Once Bad Operators that got rich running illegal are now setting policy. Meanwhile they try to put an Independant, who runs much safer than their newly Trained Driver out of bussiness. It’s absurd IMO
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I'm paying just under $10k with Progressive due to paying the entire premium for the year at once (20% discount). The factor that seems to be most important is your age. Older= better. Younger= very expensive. But for new authorities and newer drivers, Progressive is perhaps the only company that will write a quote. (Oh, and my age=53.)
Regarding the cost of it all, it has cost me about $65k to get set up as an o/o. This is not counting any funds that need to be kept as back-up. -
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