OOIDA Insurance

Just ran across this thread as I am putting together a story about OOIDA Risk Retention Group, Inc..

The fact that Landstar (and others) will not accept OOIDA insurance has absolutely nothing to do with the lawsuit OOIDA recently settled with Landstar.

It has everything to do with the fact that OOIDA Risk Retention Group, Inc.is not rated by AMBEST.

Be very careful if you use OOIDA RRG Insurance as they aren't Ambest rated and there are several 3PLs, brokers and shippers who won't accept their insurance coverage.

Most shippers, brokers and 3pls require a B+ or better AmBest rating for the insurer of a carrier. OOIDA Risk Retention Group, Inc isn't even Rated by Ambest.

Many TIA members won't accept OOIDA's insurance

OOIDA's Financial Strength Rating is Not Rated

Their Issuer Credit Rating is not Rated

The Not Rated (NR) designation is assigned to companies that are not rated by A.M. Best.

Why a Financial Strength Rating is Important?

For insurance companies, a Best's FSR is a strategic tool that can enhance consumers' confidence in the organization's stability, as well as its attractiveness to investors. A rating also enhances an insurer's credibility with reinsurers - a valuable resource, particularly for insurers entering new markets.

Using a Not rated or low rated insurer can put a crimp on who you can haul for and the revenue you can generate so make your choice wisely.

In other words, buyer beware.

 

I think it's fair to say TIA and OOIDA have totally opposite goals!

 

I got a qoute from ooida very high price you might want to check out this place http://www.rigquote.com/ not sure how they are but i got a qoute around 2000 bucks cheaper for all the same insurance

 

I use Daily http://www.duoa.com/about.html

 

Would be cool to skip the brokerage between the agency & the insurance company. But these guys are only for a few states...

Daily Underwriters of America (DUOA) is an A.M. Best "A" rated insurance company based in Carlisle, Pennsylvania. We offer a full line of trucking insurance products for insureds domiciled in Pennsylvania, Maryland, Delaware, Kentucky, North Carolina, South Carolina, Georgia, Florida, Arizona, and Ohio.

Drawing on first-hand experience from our sister company Daily Express, Inc. (a trucking company), DUOA has been providing first class service to truckers since 1978. Our experience and continued contact with the trucking operation keeps us current on all issues facing the transportation industry.

 

I would stay away from OOIDA insurance. This company gives good rates , but I just have a claim $30,000 dollars and they have declined. They told me that I have to proove them that I was driving my truck. Well, I am independent owner operator and only one who drives my truck. Now I am in big trouble and they do not want to pay, not even answer my calls and calling me back. I have been paying my insurance on time , never missed a payment. This is a scam. Be aware and stay away!!!!!!!

 

I called for a quote when progressive upped my rate 30 percent.OOIDA was even higher(much higher) than progressive,even with the 30 percent hike.I know nothing of am best ratings,or claims problems,only,in my case,they were very high priced.

 

A.M Best is the defecto insurance rating agency for the industry. If a company is not listed there, the. Buyer beware

 

OOIDA is not the best place to buy truck ins,,you can find better and lower priced ins else where..Dalily Underwriters in Pa has good rates as well as you can make monthly pmts with no finance fees,I used Daily when my company was in Maryland for many years, northland is an other good ins company,, OOIDA is like AARP a company that is basically interested in selling insurance and other stuff to O/Os and small fleets,,they are only interested in making money off truckers,

 

lol, they do more than that