Insurance question???

Well you get what you pay for.........OOIDA is a risk retention group....as such they are not rated by AM Best so they charge cheap premiums to compensate for the fact most load brokers won't give you a load with them as your carrier.

There is a reason that quality, A++ rated carriers such as us, Progressive, Great West, Northland, Canal charge the premiums we do.....it's because we've been doing it long enough we KNOW what pricing will support a profitable book of business.....which keeps the shareholders happy and we underwriters in a job.

 

If you are an underwriter you should be ashamed .

Just keep the shareholders happy and F the customer .....nice

 

What bunch of horse s###.....There's an old saying; one mans greed is another man's need.........

 

Find your own sight underwritter.

 

You clowns make me laugh my ### off........
The last time the economy fell apart the insurance company's lost their ###s because they were so heavily invested in the stock market and lost billions.
So to make up for the poor money management they raise the rates to the insured not because the risk level went up but because they were poor money managers.
The system is suppose to be base on the assumption of risk not on "I pissed away my profits so now I need to over charge my customers to regain my stock market losses".

 

I use sentry insurance. Based in Wisconsin. Happy with rates. On the road don't know annual premium.
I pay around $700 per month for 9 months with a larger payment with renewal.
Good luck.

 

I don't know who we use I can ask my brother. But for 2 trucks 3 drivers (Brother,Father and I and I 26 only had cdl yr and half) and were at 10k a year. 67k for 3 trucks just for insurance sounds crazy unless your hauling the queen of england around.

 

What most of you don't realize is how insurance actually works in the real world. We take in premiums and turn around and pay losses...........in a GOOD year a carrier MAY make 2-3% in underwriting profit.......but more often than not the underwriting side is a breakeven or slight loss (3-5%).

Where most insurance companies make money is through the "float"....where we invest the premiums we've taken in, until such time as we have to pay the ultimate loss......in some cases that "float" is 30 days....in other cases it's 3-5 years. Insurance is more like banking than most will admit, in that just like a bank we use your money (premiums) in our fiduciary capacity until we pay out claims......with the bottom line typically ending up a profit for the shareholders as the investment income offsets the underwriting loss.

When I hear all these premium comparisons I laugh....because of the variable in garaging location, years of experience, mvr, loss history etc the price paid across the country is like a yo-yo....so add in the competitive environment of free enterprise.....we do want and NEED to write premium......so if you are not "competitive" you won't have any premium income to play the investment game with......so when you try to compare what you pay with someone on a forum without the true details it's like chasing clouds.

Before you all jump on me for stating we make a a bottom line PROFIT and make the shareholders happy......I wasn't aware profit was a bad word.....in fact making a profit is what all you small, independent business people, try to do every year.....profit and investment by shareholders is what MAKES our economy run and grow