OOIDA Insurance

Why would you add new equipment your first year? Do you mean an additional trailer?

 

It will take some time to get a feel for the business. You could go with Lancer and if you decided to add someone to your authority you may be able to cancel the policy and go with another company. Most owner operators whom you may lease on will be looking to you for guidance. Without some hands on experience, it will be difficult for you to provide that guidance. That comes with time. Many owner operators will want to see some sort of track record before they lease to a carrier. They will want some assurance that they will be able to get decent paying loads and that they will get paid.

 

Find someone that can quote you several companies.

Great West, Northland for example.
I was with Progressive for the 1st year and although they were the cheapest,
they didnt offer any coverage for extras nor any road/towing assistance.

I am now with GWC going on 2yrs.
I haven't had a claim nor issue, although some people on this board sure have when they tossed a
claim at GWC. I found that odd since GWC was known for claim service...but who knows...?!


I also found different quotes from the same companies from different agents.
GWC offers "choice plus" to provide extra coverages and that includes the disappearing deductible each year your with them and claim free.
I have been very pleased with my agent.
They always seem to look out for me rather than just getting their commission and dropping off the face of the earth.

 

I have been with the same agent for several years. One thing that I like about them is that I can go online and order insurance certificates. Starting out that could be a big asset. If there is a load that I want to take with a new broker or a good paying load from a broker that I have not hauled a load for a while, I can get online and oder a new certificate in a couple of minutes. Although it comes direct from my agent I can order them myself 24/7 so that I don't lose out on any good paying loads. Unless you can order online you will need to call your agent and have them to fax or email an insurance certificate to every broker or shipper with whom you want to do business. They will usually need a new certificate each year when you renew your insurance. In addition to the lower rates, this is a big advantage for me. Unless the broker has a current proof of insurance they will not do business with you.

 

Hanadarko and G/Man make great points about service. It is funny when people say the shop agents every year. They just haven't found the right agent. Having a agency that can respond to certificate requests is critical. Loads are lost because you can't get a certificate.

And any money you pay up-front on insurance will be refunded if you cancel. Atleast with the policies I have looked at.

 

Bill is correct about being able to get any unused premium back from your insurance company should you decide to cancel the policy. Unless you are fairly certain about leasing on some owner operators to your authority the first year, you may want to go with the least expensive that will give you the coverage you need and has the B+ or better rating. I would not want to spend several thousand dollars more on premiums than I needed to in speculation. I understand what you are saying about wanting to be able to add on owner operators, but unless you know for certain, you could be spending several thousand dollars in vain.