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Is General Liability Ins. necessary?

Discussion in 'Ask An Owner Operator' started by Logtruck08, Mar 2, 2012.

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  1. Mar 2, 2012 #1
    Logtruck08

    Logtruck08 Bobtail Member

    47
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    Jan 19, 2012
    Maine
    0
    I've been mostly off-road logging & am now leased for flatbed. For now I'm going with what the company I'm leased with offers for bobtail and cargo ins. My own insurance co has me set up for physical damage. Do I still need General Liability Ins?

    Thanks.
     
    Logtruck08, Mar 2, 2012
    Logtruck08, Mar 2, 2012
    #1
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  3. Mar 2, 2012 #2
    fortycalglock

    fortycalglock Road Train Member

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    Jun 25, 2011
    Tourist Town, FL
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    Do you need it, no not really. That is the carrier's responsibility now. Definitely get your own quotes on physical damage. I have OOIDA and it is half what Landstar would have charged me.
     
    fortycalglock, Mar 2, 2012
    fortycalglock, Mar 2, 2012
    #2
    Logtruck08 Thanks this.
  4. Mar 2, 2012 #3
    Logtruck08

    Logtruck08 Bobtail Member

    47
    0
    Jan 19, 2012
    Maine
    0
    Thanks fortycalglock! I'm scrambling to get everything together so I can hopefully be on the road Mon. So many details I can't even think straight right now but I was hoping I could save a few bucks if I cancelled the General Liability today (being Friday). Thanks for the tip on the physical damage. To save time I'll keep the ins co I've been using but will look into OOIDA and some others when I can come up with a downpayment. Right now I only pay for 10 mos & no d/p to renew but if there's a big enough difference it would be worth it if I'm able to come up with the upfront costs.

    I've also been looking into a bookkeeping software like Truckn Pro. How do you keep all the paperwork straight?
     
    Logtruck08, Mar 2, 2012
    Logtruck08, Mar 2, 2012
    #3
  5. Mar 3, 2012 #4
    BigBadBill

    BigBadBill Bullishly Optimistic

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    Chattanooga, TN
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    Second that, not a big need for GL when leaded.

    But I would shop others besides OOIDA. They are pricey.

    Did LS and OOIDA make nice?
     
    BigBadBill, Mar 3, 2012
    BigBadBill, Mar 3, 2012
    #4
  7. Mar 3, 2012 #5
    fortycalglock

    fortycalglock Road Train Member

    6,160
    6,602
    Jun 25, 2011
    Tourist Town, FL
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    OOIDA is the cheapest I've found for FL and I've shopped quite a bit. I can't comment on other states, but I do know Gallagher which is what LS uses, is double what OOIDA is. I've had OOIDA well before LS and have it on my trailer that is financed with LS, and have never had a problem with LS about it.
     
    fortycalglock, Mar 3, 2012
    fortycalglock, Mar 3, 2012
    #5
  8. Mar 3, 2012 #6
    112racing

    112racing Road Train Member

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    Nov 30, 2008
    pocono's, pa
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    For the cost of the general liability I would get it I think I paid $250 for 1 million coverage. I delivered alot of structural steel where the iron workers were on the trailer to unload.you can bet your hiney if they get hurt on your trailer you will be part of any lawsuit.
     
    112racing, Mar 3, 2012
    112racing, Mar 3, 2012
    #6
  9. Mar 3, 2012 #7
    Logtruck08

    Logtruck08 Bobtail Member

    47
    0
    Jan 19, 2012
    Maine
    0
    Thanks 112...mine was a little over $500 which in today's world isn't much I guess. You make a good point. I obviously need to figure ins out better, I though the regular liability covered that. For the foreseeable future I'll be leasing their trailer though
     
    Logtruck08, Mar 3, 2012
    Logtruck08, Mar 3, 2012
    #7
  10. Mar 3, 2012 #8
    112racing

    112racing Road Train Member

    1,384
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    Nov 30, 2008
    pocono's, pa
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    Your regular liability will cover a mv accident general liability will cover anything else that may happen
     
    112racing, Mar 3, 2012
    112racing, Mar 3, 2012
    #8
  11. Mar 3, 2012 #9
    Logtruck08

    Logtruck08 Bobtail Member

    47
    0
    Jan 19, 2012
    Maine
    0
    Thanks, appreciate it!
     
    Logtruck08, Mar 3, 2012
    Logtruck08, Mar 3, 2012
    #9
  12. Mar 3, 2012 #10
    BigBadBill

    BigBadBill Bullishly Optimistic

    4,599
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    Oct 2, 2010
    Chattanooga, TN
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    LS will not accept a carrier that uses OOIDA. Or wouldn't about 6-months ago.

    But you are just talking physical damage and bobtail, right? I guess LS could care less who you have. Can't even make you carry it.

    In IL, my OOIDA quote for physical damage was 5.5% of value compare to the 3% I currently have. This is for being based in IL.
     
    BigBadBill, Mar 3, 2012
    BigBadBill, Mar 3, 2012
    #10
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