Question on truck insurance

GreatWest.

Hey, Brickman, I just refinanced my home on the HARP program. Dropped my interest rate 2 points, kept the same 25 year term, saved about $100K of interest on the mortgage. HARP is an Obama program. Just thought you'd like to know.

 

I bought a 5 year old FTLR Columbia, leased to Conway Truckload. The coverages mentioned above cost $85/week. A newer truck would cost more - in every dimension. I just learned about the 2290 IRS Heavy Equipment Tax - $550/year. Makes me wonder where all the money goes that trucks, and the trucking industry, pay to the federal government. Just the Highway taxes paid to the feds and states are in the billions of dollars annually. Sure are some rough roads out there.

 

I forgot, Conway's program/insurer sells Accidental Injury insurance for $175/month, their Workers Comp is $415 or so. I got the lower dollar policy because it provides weekly income and disability if it's bad. However, I am old and already have Medicare, which is good insurance with a low deductible. One more thing about insurance. Like I said, I'm old and I've learned that the cost is only one element to consider. What coverages you get for the money is more important, and most of all, read the exclusions. Same for your truck purchase. It's not what you paid, it's what you got for the money. I purchased a 5 year old truck 6 weeks ago (still running!) 10% down, @ 2% for the financing fees. Yes, they want to pay the people who do the work, but these fees are ein the monthly payment. Additional fees were maybe another 2 or 3%, in cash. Your first full tanks will be maybe another $500-$700, depending. Believe me, costs will be a constant part of your new life. It's a lot better than working for a company. If it goes well, your truck doesn't break, you get miles, and like working more than you like being home with the babies Mama, you'll be happy about a purchase. You might even make more money. It's a better way to go. Conway Truckload uses a bookkeeping service for I/C's, ATBS. www.atbsshow.com. They seem sincere and thorough so far. They also provide tax filings, quarterly and year end, profit reports, do your receipts and accumulate your monthly expenses. More info after 04/15/2014!

 

??? what company will let you O/O with them with no exp? I havent heard of one yet... not even Landstar

 

How come? What if there are two+ owners?

 

Some carriers will allow you to lease your truck with them with no experience, but you will need to have an experienced driver doing the actual driving.

 

How come? What if there are two owners?

 

i got a quote from OOIDA $220 per month for truck and trailer(no cargo insurance).Sound good,but they can not tell me for what kind of amount are the truck and trailer insured,that is wierd.The operaTor told me "the system dosent show it".I think she lied to me,i have to know the amount.It is like you making life ins and dont know the amount if something happens.

 

Just so you know OOIDA openly discriminates about RACE and origin in providing a quote for insurance (race was asked by Lorie to give the quote). Just imagine where this country is going??
RigQuote asked some questions without looking a the IFTA miles and said $1200/month on a 38k miles over the road on clean, 4 year OTR exp. 45 years of age. Dry van with good records.
Progressive is quote will be attached soon.

 

Hub International has not answered in three days to give a quote. I have filled there online quote page and spent hours for find the info they ask for on their online page. Has any one dealt with them before. They were recommended from the Northland Ins website.