Insurance to keep authority active? Recommendations?

Discussion in 'Ask An Owner Operator' started by Joeziah, Jul 31, 2024.

  1. Joeziah

    Joeziah Light Load Member

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    Pretty self explanatory. Does anyone know an insurer that is cheap cheap, I want to keep my authority active but the truck is going to be parked so cheapest of the cheap coverage is desired.

    Anyone know an insurer that does this?
     
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  3. RunningAces

    RunningAces Road Train Member

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    I think you can drop everything except Primary liability which has to be 750k. Might also want to check and see if lowering your operating radius to the absolute minimum will help at all. Assuming your equipment is paid off that is. Might want to call ooida and check on that but keep in mind if you drop all your physical damage if something happens to your truck/trailer while parked it's a total loss.
    Could try just calling every insurance company that offers commercial insurance like Great West, Progressive, etc and getting rates.
     
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  4. Judge

    Judge Road Train Member

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    can do like 100-150 mile radius.
     
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  5. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    Why can’t your current company do that, I asked my agent and my current insurance company was DOABLE. I thought about it but never did it. Still trucking even though seems like part time. Tough times will soon pass, hopefully after this election year which seems the normal every 4 years.
     
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  6. Rideandrepair

    Rideandrepair Road Train Member

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    I did a voluntary revocation. It’s pretty simple. fmcsa claims that when reinstated no special audits or enforcement. I think it costs $80 to get reinstated. Insurance cost is the mystery. My agent couldn’t guarantee anything. I imagine it depends on how long it’s deactivated. Anyone with any information? It’s been 9 mos. May or may not reactivate it. Most likely depend on insurance cost.
     
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  7. Joeziah

    Joeziah Light Load Member

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    thanks for all your replies. I've asked my carrier to reduce coverages to minimums but they don't seem to want to do it for some reason. Only reason I even want to do it is because of the #### show we currently have with fraud causing all the brokers to blacklist young or new authorities.

    As if the old authorities don't commit fraud, fact I think the ones who do commit fraud specifically buy older authorities just to bypass that false positive....
     
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  8. Ruthless

    Ruthless Road Train Member

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    So that we’re all clear, you’re saying that you’re going to continue to insure and plate a truck (and trailer?) that you already own so that you can maintain your authority while not making any money with said equipment and authority, in order to let it age so that you can hope to make money down the road using only brokers That you’ve never worked with before up until that point?
    Is that about it or is it something completely different than that?
     
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  9. Cat sdp

    Cat sdp . .

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    Insurance treats you like a new entrant
     
  10. Cat sdp

    Cat sdp . .

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    Op …. Drop everything except primary liability with a 100 mile range. See what they say
     
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  11. Cat sdp

    Cat sdp . .

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    this part I can kinda relate to……..lol
     
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