Lost wage Insurance claim

Discussion in 'Ask An Owner Operator' started by ElSobrino, Mar 22, 2023.

  1. Beaver9

    Beaver9 Heavy Load Member

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    Did you ever notify brokers of the claim?
    Did you lose brokers over any claim?
    What insurance do you carry? Have you been dropped by your insurance after filing a claim?
     
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  3. Opus

    Opus Road Train Member

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    My claim was against the offending party. I never filed against my own and couldn't tell you how to do it.
     
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  4. Rideandrepair

    Rideandrepair Road Train Member

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    An average weeks revenue after fuel costs seems fair. As an O/O your loss is more than just Drivers pay. Fixed costs don’t stop. You should be compensated for total loss of revenue. That’s what I did once, 20+ yrs ago. The Trucking Company agreed. I took a chance on them, since their reputation was good. Didn’t even make an accident report. No insurance involved, they paid. If dealing with an insurance company, better to shoot a little bit high. They’re going to try to minimize their payout.
     
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  5. ElSobrino

    ElSobrino Bobtail Member

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    Ok so in my case of being hit by a hotshot driver while I was parked at truck stop (while I was in sleeper). Apparently the the driver wasn’t listed on insurance policy as a driver and neither was the truck listed on the policy not sure what to do now my personal insurance is covering all the repairs right now. The Supposed insurance seems to be insinuating that I’m out of luck because they weren’t listed on policy.. do I need to contact legal representation???
     
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  6. Opus

    Opus Road Train Member

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    I'd let your insurance people sort it out. File your total claim with them and let them handle it.
     
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  7. ElSobrino

    ElSobrino Bobtail Member

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    So would I need to contact my personal insurance about my lost wages or do I just eat that?..
     
  8. Opus

    Opus Road Train Member

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    No dude.....go all in and let your insurance people sort it out.
    If I were you, I'd be on the phone to them right now.
     
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  9. Beaver9

    Beaver9 Heavy Load Member

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    How did you file against the other party?

    I had to use my insurance because the offending party had a terrible agent who handles their claims. I wouldn't get anywhere or would get nothing in return, a token maybe.
     
  10. Beaver9

    Beaver9 Heavy Load Member

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    I don't know how.

    I got only paid for physical damage by my own insurance since I wasn't getting anywhere with theirs. They will try to collect a minimum for loss of profit. They said it could even take months to recover a few thousands. And they don't know how much they will be able to settle on. My situation is different. I was able to keep the shipper .
    My brokers dropped me after the claim.
    So, how do I prove loss of profit if keeping one customer after? I lost 60 % of revenue in February and March. That's the only evidence I have that customers stopped booking with us. Maybe I shouldn't have mentioned the damage that happened to my trailer. But I wanted to let the brokers know. I only informed ones I worked with often. So, I shot myself in the foot right here. Better to say nothing to the broker.

    I had to renew IRP registration ($2,550) and paid more for insurance at the renewal back in February.. My taxes are due by April 15th after pretty much no revenue past two months.
     
    Last edited: Apr 3, 2023
  11. Beaver9

    Beaver9 Heavy Load Member

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    I deducted a lot more than gas. Gas along with other expenses counted for 60 % deductions from gross. I did deductions as if I would be preparing taxes. So, my numbers weren't exaggerated when I calculated loss of profit. And that too was only for one week at the shop to repair the trailer, and two extra days when the trailer couldn't be in usage. The trailer has a temporary fix. Parts are on backorder. And I'm serving one shipper now only two days each week.
     
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