New DOT and MC #'s Insurance

Discussion in 'Ask An Owner Operator' started by SteveScott, Jul 13, 2018.

  1. Pup97

    Pup97 Light Load Member

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    35000 is what I was quoted. I’m 20 years old and would be new authority pulling a flatbed under 300 mile radius in Kentucky.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    Wowsers, man. That's really expensive and with a new truck payment every month a pretty daunting prospect.
     
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  4. Long FLD

    Long FLD Road Train Member

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    CA makes everything more expensive. When I started running out there in 2012 my insurance went up in 2013 and they flat out told me it was because I was running CA weekly. Funny thing is when I quit running CA in 2015 my insurance for 2016 didn’t go down.
     
  5. SteveScott

    SteveScott Road Train Member

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    I agree it's a huge amount, but I'm only going to finance $30k on the new truck and trailer and pay for the balance in cash. The contracts that I have lined up will be generating a gross of $22k per month, and I hope to expand on that within 6 months. I guess we'll see how it all pans out.
     
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  6. nax

    nax Road Train Member

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    Not true.

    My CDL is less than 2 yrs old

    My MC is only 6 months old

    Im with progressive @ $1500/mo

    What else you not telling us????
     
  7. thaistick

    thaistick Road Train Member

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    Are you in California
     
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  8. Tolmie

    Tolmie Medium Load Member

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    Which state do you reside?
     
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  9. SteveScott

    SteveScott Road Train Member

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    What else am I not telling you, really?

    What state are you in?

    How long ago did you get the policy from progressive? Since you have an MC that is 6 months old I'll assume that's about the same time you obtained the Progressive insurance. Did it ever occur to you that just maybe they changed their underwriting guidelines "AFTER" you bought your policy?

    What are the policy limits on your policy?

    What else haven't YOU told us?
     
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  10. Scooter Jones

    Scooter Jones Road Train Member

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    A friend of mine just renewed his policy with Progressive. He moved from Colorado to MN. They jacked his rate initially from around 16k a year (2018 KW & flat bed trailer) to over 20k.

    He was incredulous and started digging and calling around.

    What he discovered was instead if going through Progressive directly, a more competitive rate can be obtained through a "preferred agent". He found one in the Minneapolis area who signed him on, through Progressive, with the SAME coverage for right around 14k a year.

    Go figure...

    My coverage is also underwritten through Progressive. I live in Oregon. Have a 2016 Volvo 670 & 2016 Utility dry van. My rate in 2018 after a 15% pay in full discount was $7800 for the year.
     
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  11. whoopNride

    whoopNride Road Train Member

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    It must be dependent on the state. I have a friend who just got his MC number last month. Progressive insured him. He bought a brand new KW and a brand new Conestoga flat. He is a new Owner Operator but has a spotless record and 30yrs CDL experience.

    Based in Miss.
     
  12. thaistick

    thaistick Road Train Member

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    It's absolutely dependant on the state...
     
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