Hey out there Im 90 days new authority and Im looking to add a truck under my authority. To add trucks on insurance policy do I have to pay a down payment every time I add a truck?? All insights greatly appreciated
Depends if you paid your policy in full or not. I usually pay my policy in full at the start of the year so every time I add equipment I have to fully pay for it at time of adding. I would assume if you are monthly then it would just be pro-rated and added to your monthly installment.
My pockets aren't deep enough for that lol. Im paying monthly but one rep said it would be $4200 down every time I add equipment. Im extremely confused. Or is there anyway around the down payment for added equipment.
I will be wondering something similar as I am buying a new truck and it should be here in February. Gonna put my current truck up for sale and might have to carry insurance on both while being sold.
I'm guessing it depends on your insurance agency. Most don't like you adding trucks on that early into your own authority. Mine isn't going to make me pay a down payment to add on a truck it's just prorated premium for whatever is left on my policy at the time of adding on.
I did they gave me the info of putting 4200 down every time I add a powered unit, I was just asking around for better alternatives.
