Insurance Renewal...

Discussion in 'Ask An Owner Operator' started by Beaver9, Dec 4, 2021.

  1. Beaver9

    Beaver9 Light Load Member

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    My renewal is just around the corner--- February.

    I already got my quote for the new year today.
    It's my third year next year.

    1st year--from 22K (adjusted to $19,500 after tweaks to the insurance the same year)
    2nd year-- $13,000, and

    NOW (Can you hand me the envelope please?)




    It is $10,500.

    I own Kenworth T660 2010, and I own Great Dane Trailer Reefer 2013.

    Is it too much for the third year? Should I get quotes? I have Progressive now.

    Also, did you raise the value of your equipment? The prices went up, so I am not sure if I should give more value to the equipment I own? I don't know how much it would raise it. But if something was about to happen to the equipment I own, I won't be able to buy similar for the value that's listed on insurance. Prices are like double now?
     
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  3. mp4694330

    mp4694330 Road Train Member

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    Check Northland, Lancer, GreatWest.
     
  4. Chieftains

    Chieftains Light Load Member

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    That's a fair price. It's seems this year all renewals went up.
    That's only about $800 a month.
     
    GYPSY65 Thanks this.
  5. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    It's not bad but I would get your loss/run reports from Progressive and shop around. I ended up with Great West because I got the same coverage for less money and added stuff that I had to pay extra for with Progressive. GW also doesn't charge me money if I have to add an additional insured like Progressive did.
     
    Last edited: Dec 4, 2021
    Midwest Trucker Thanks this.
  6. xsetra

    xsetra Road Train Member

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    I shop for quotes every year.
    Been with Great West the last 7 years. Before that Sentry and Northland.
     
  7. Beaver9

    Beaver9 Light Load Member

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    Jun 15, 2020
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    Did you increase the value on your equipment?
     
  8. Midwest Trucker

    Midwest Trucker Road Train Member

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    Congrats. Sounds like it’s going in the right direction! I doubt you’ll ever get under $7500 but 10k ain’t far off considering your still young as a company.
     
    ProfessionalNoticer Thanks this.
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