O.O's & those with authority's has your insurance gone up this year?

Discussion in 'Expediter and Hot Shot Trucking Forum' started by crocky, Jun 16, 2022.

  1. baerpath

    baerpath Light Load Member

    57
    77
    Nov 2, 2019
    0
    Ya I'm worried the same with a new trailer showing up sometime in the next two weeks. Mines a 40k hydralic dovetail I'm sure it'll raise a bit
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. woolybully35us

    woolybully35us Light Load Member

    291
    503
    Mar 13, 2015
    ks
    0
  4. Black River Transport

    Black River Transport Bobtail Member

    20
    12
    Mar 17, 2021
    0
    I just renewed back in March with no change. But 3 weeks ago I added my CDL and a 38’ flatbed trailer and got my new bill . Over $1400 for the first month and $930 afterwards. That’s only one truck and the 38’ trailer and a 22’ trailer. My agent looked it over twice and can’t see anything wrong and doesn’t know why it went up so much. It jumped $400 a month. I’ll be calling the insurance company myself because I want it explained to me the reasoning behind that!
     
  5. nikmirbre

    nikmirbre Road Train Member

    4,682
    7,678
    Jul 27, 2011
    High Point NC
    0
    Mine went down significantly..... 17k last year. Renewing next month for 13k
     
  6. Another Canadian driver

    Another Canadian driver Road Train Member

    1,130
    4,061
    Nov 14, 2021
    ALBERTA
    0
    Colorado?
     
  7. God prefers Diesels

    God prefers Diesels Road Train Member

    3,952
    20,436
    Jun 26, 2020
    South Texas
    0
    Got this from Great West a few days ago. My authority is tempered, no longer a new entrant, no tickets, citations, loss runs, etc. Own authority, semi truck and 48' flatbed for reference. Here's a snip of the email.

    20220718_205454.jpg
     
    crocky, Lite bug, nikmirbre and 2 others Thank this.
  8. Rideandrepair

    Rideandrepair Road Train Member

    14,560
    48,386
    Aug 8, 2015
    0
    Now we know what’s so great about them, Lol. Good deal. I’d definitely stay with them. I was told once by Elizabeth Truck Repair Shop in NJ that they were the best to have, when there’s a claim.
     
  9. God prefers Diesels

    God prefers Diesels Road Train Member

    3,952
    20,436
    Jun 26, 2020
    South Texas
    0
    I've got towing insurance in there too. Plus they have "vanishing deductibles". Each year, the deductibles drop 25% as long as you don't have a claim. So this year, all my deductibles are 25% lower as well.
     
  10. Rideandrepair

    Rideandrepair Road Train Member

    14,560
    48,386
    Aug 8, 2015
    0
    Towing is nice. That’s a wild card expense. I used to have it with Ooida. Cost me $500 deductible when I blew the engine on my last Truck. Helps a lot, when faced with an already high repair. Used it again 6 mos later, when the Truck got totaled out in NJ. Again between downtime, and all the uncertainty, one less thing to worry about. Towing can be so expensive, especially in an accident situation. I have Northland currently. They’ve been good. Eventually though Great west, along with towing would be ideal. I’m wondering if rates will drop some, as less New Carriers enter, and others leave. One good thing about a slowing economy is the improvement in prices and services, as others compete for existing Business. Back in early 2000 for instance. Dealerships were after O/Os business, Auto Dealers focused on shop service revenue to survive. I’d get an oil change for $10 at my local GM Dealer. New tires also. GM Dealers had the best prices. Every little bit adds up in times like these. Having low fixed cost is the only hedge against inflation.
     
  11. flatbedcarrier

    flatbedcarrier Medium Load Member

    664
    817
    Jun 8, 2005
    Southern California
    0
    Talked to my agent the other day about my renewal. He asked about my truck value and I said keep it at $45k, and the trailer at $13,5k. Yeah they’re more valuable then that right now but I’m not worried about it. Trailer is new and paid for, and my truck has been paid off since 2017.

    The point is, you don’t have to increase the value of your equipment if you don’t want to. Over the years I’ve systematically reduced values as my equipment aged and the value dropped. Should I increase it now, I don’t think so because insurance companies typically beat you up pretty bad anyways when settling out. I’ll enjoy paying the lower price for insurance more then I would a few grand if it was to get destroyed. Besides, if somebody hits me, it’s their insurance I’ll be going after, not mine.

    Last year, my $1,000,000 liability, and $100,000 cargo (per BOL) and my equipment values above. My insurance was $5,000 for the year. It’ll be interesting to see if it goes up or down this year. I’ve been with the same agent for probably 30 years.been a class A holder for 37 yrs. I have Zero claims and a spotless safety report. Knock on wood.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted