Question on this list of insurance rates

Well, either the business or yourself has to be a resident of which ever state you pull your DOT from. Meaning, FL, MO, NY, NC wherever it';s all the same because it's a federal requirement to have a address somewhere that is not a PO box.

The issue I ran into with MO, is to get my appropriated plates I had to show proof of residency for either my business or myself. That's easy with a house of course, but they change the rules on you if you do the business residency.. If you use a business location, the state requires that you have that location staffed 5 days a week.. It's absolutely ridiculous that a 1 truck outfit should be required to do that.. yet there is no such restriction if you pull it from a residential address as your residence..

As for other states I dunno, but that's what my issue with MO was.. It was becoming overly complicated and MO not letting me transfer my LLC to FL is what was pushing me to set up there the most, the insurance savings was secondary.. After all the hassles it wasn't gonna be worth it for me and I found a work around to get my LLC based in FL, so I'll just deal with the higher rate in FL but less other hassles..

Personally, I wouldn't set up in FL unless you plan to move here. FL has some of the highest insurance rates, it's just I got lucky with my rate. Another guy on the forum with a new MC here in FL is paying $35k/year to haul cars.. I got the $12k rate for hauling cars but if I don't do cars and just sick to freight it'd be closer to $9k most likely.

 

It's the standard that is required by brokers & federal regs.. I will look into general liability as that's a good suggestion..

 

I honestly couldn't tell you.. I will say one tip I was told, was not to call Progressive direct. I was told to deal with a broker because a broker can shop around for better cargo insurance rates than what Progressive will give you..

I didn't take that advice but I will before I sign my contract.. I got my quote direct from progressive because it was easy to call and talk to them on the phone. I don't trust insurance brokers because on my personal insurance account when I moved to MA I had to use a broker because Progressive couldn't sell direct to me there. Well the Broker didn't tell me that the policy he gave me was non progressive even though he was a progressive broker.. Due to that I lost my longevity discount rate I had with progressive and had not as good insurance..

I will get a quote through a broker before signing though to see what they can get me far as rates because I think the cargo insurance on my policy is a bit higher than it needs to be.