o/o to own authority

Check the OOIDA website if you have at least 2 years of recent verifiable experience, you can get a good rate.

 

Mine is through Great West, Ins Agent is Caribou in Birmingham, AL

2 mil General Liability
1 mil Auto Liability
100K Cargo
25K Trailer Interchange (for pulling somebody elses trailer)
27K Physical Damage Tractor
6K Physical Damage Trailer
with combined 1K deductible and other various add ons.
cost was $980 down and $649 a month, several years experience, 1 speeding ticket.
Caribou is great, only thing I don't like about 'em is they need to update payment methods. They do not take credit/debit card payments.

 

I spoke to Progressive and they quoted $807.80 Down and $517.40 per month on Bobtail Insurance for my 2007 Pete. I don't have my own authority. Does anyone know of other insurance companies with lower rate?

 

Check First Guard in FL, they are online

 

Hey may lack the recent OTR experience (not lack of) that is required by most insurance companies and that maybe why it is so high (my problem).

 

It's true, some insurance companies won't insure certain things you haul, so get a list from them and then ASK if it's not on the list, just to make sure. I know for a fact that Progressive wouldn't insure scrap, and would charge a lot more if you hauled logs (said it was more hazardous).
We finally quit hauling logs and the log trailer is up for sale now. Hubby started hauling for a friend instead.

We made the mistake of going through this one guy down in FL and paid off the ins with a credit card, then changed companies and asked for money back and they refused (ins guy wouldn't return calls, either, until it was too late).

 

Having your own authority is the only way to go if you really want to be in charge of your future. However insurance and being told lies by a dispatcher are really the same.

Most of the lease programs out there are simply a way to get a captive employee. In fact I would go as far as to say that many company drivers at times actually make more NET than a leased on truck. However at least they want you to be able to stay in business.

Brokers on the other hand have no vested interest if you don't make a profit they just find another o/o with his own authority.

However if you have your own authority you can find your own customers, and work at building a real business instead of a job for yourself.

There is no right or wrong route it just depends on how much responsibility and control you want and can handle.

Good Luck