Old trucks and fewer miles.....insurance impact

Discussion in 'Ask An Owner Operator' started by rank, May 14, 2019.

  1. rank

    rank Road Train Member

    Last edited: May 15, 2019
    lynchy and blairandgretchen Thank this.
  2. AModelCat

    AModelCat Road Train Member

    Jul 7, 2015
    On vacation
    Where'd you manage to find a Peterbilt T800?
  3. rank

    rank Road Train Member

    They don’t sweat those details I guess. And They like to call step decks lowboys. And suburbans pickups. And 4wd 2wd.....
    Tombstone69 and AModelCat Thank this.
  4. JPenn

    JPenn Road Train Member

    Mar 5, 2008
    Southern Tier NY
    Boy, the model year seems to make a significant difference. Possibly due to newer trucks placing higher in the accident statistics, courtesy the megas no doubt?
    rank Thanks this.
  5. windsmith

    windsmith Road Train Member

    Sep 2, 2011
    Is is possible that you're seeing discounts applied to the 2nd and 3rd trucks insured?
    rank Thanks this.
  6. rank

    rank Road Train Member

    The broker said no but who really knows. If you break it down the difference in premium wasn't liability it was the $4,000 all perils on the 2008, which I cannot explain.

    I do know it's always been like this with this company. When I switched to this company they asked for the original purchase price of all the units. I had to call Paccar with the VINs. That's how I found out that a 359 Pete sold for $80,000 USD, which was probably more than most houses 33 years ago. The older trucks are always cheaper but the older trucks also cover fewer miles so I think it's a combination of the two.

    The broker said my rates are stupid low.....he's seeing some renewals at $25,000 per truck. On the other hand, yes it's $25,000 for three trucks but it's still $25,000 for only 75,000 miles worth of risk so why does the number of trucks even matter for liability? It doesn't in my mind.

    FWIW, I dropped all perils coverage on the 2008 T660. A $4000 premium and a $5000 deductible on a DPF truck that's worth maybe $15,000 doesn't add up to me.
    Last edited: May 15, 2019
    Ruthless Thanks this.
  7. Tombstone69

    Tombstone69 Road Train Member

    Dec 20, 2018
    Jersey shore
    What are you trying to say...aye.
  8. starmac

    starmac Road Train Member

    Apr 11, 2019
    Fairbanks Ak
    What is a peril?
    My insurance company has been getting stupid and worse the last couple of years.
    I actually leased out under a friends authority with my road truck last month and running that truck under her insurance. It costs just about half, with that truck than what my log truck costs just insured to haul logs only and a 100 mile radius.
    In fact, 1, day and a half load, just liked somewhere around 500 bucks from paying for a years insurance including hazmat and 48 state and Canada coverage.
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