Question on truck insurance

Northland insurance Quoted $10,000/year on a clean record with OTR 38k yearly miles. as per Cara from HUB international VT. That means $.26/mile. I think that is ridiculous.

 

National Truck Insurance Quoted $9100/year for clean record and OTR 38k miles for Dry Van. here is there wen site I think they are falsely advertising about cheap rates

 

Owner Operator Direct says I have to go to Hub International who has not given me quote for a week yet, except saying the stupid verbal message saying the quote is $10,000 /year and that,s what I mean by terrorism or Mafia of these big gangs. Insurance is the biggest fraud today a common worker can't afford. Here is what she says see attached WTF??????

 

atrucker you're joking on those quotes right? There are many things that contribute to insurance being higher such as CSA score problems and OOS violations. But those kind of rates are outrageous if you have a clean record. Insurance on my truck with a year of OTR is on 11k. 1,000,000 liability, 150k cargo, 38500 physical damage on the truck 25,500 PD on the trailer, and downtime. With an MC thats only a year old my policy is also unlimited milage. There are a few accessorial deals in there my state requires and I'm waiting on another quote from a different agent to see if that can't be cut down a little more. You don't have many options when insurance is that high to lower the cost other than to run more miles or get better paying loads.

I will agree with you its highway robbery, insurance companies are like the phone companies were in the 70s too powerful. Honestly its legal extortion. Especially when you have to go through an outside agent to avoid a $3000/year increase because you have liabilities and loans out. Well yea I just bought s truck and a trailer you idiots! It is also very pathetic that there is only 1 company progressive that will insure a driver under the age of 23 for solo, regardless of experience. I found that to be flat out ######## when talking to great west. Even asked the guy what a 21 year old with a spotless record and 3 years exp would pay. He said nothing I can't insure him yet.

So he would rather insure a 23 year old with no experience than a 21 year old with 3 years. Yea that's real good. I've had my fair share of go rounds with progressive. I don't think highly of them at all. They have no idea what they are talking about 3/4 of the time. They didn't even know they insured for power only if the trailer was listed on the BOL. Ugh utter lunacy and insanity as far as I'm concerned. Not to mention they charge more if you haul steel. Why? They're not going to pay out on it. I have not figured it out and have sense given up.

 

Insurance premiums have been going up for the last 2 or 3 years. I just changed insurance companies this year due to another increase in premiums from an insurance company that I had been with for a number of years. They went up about 15% last year and tried to go up about 10% this year. I went with a different insurance company. I have a good safety record with NO claims. I can see that it would be expensive for those starting out with little or no experience or a poor safety score. Insurance companies dictate whom carriers can hire. There are restrictions on minimum age and experience. Most insurance companies require a minimum of 23 or 25 years old to cover a driver. It is unfortunate, but a reality in this industry. If you haul cars, your premiums will be higher than other commodities. In the past, premiums tended to go down for a few years as you establish a good safety score with NO claims. Any tickets your drivers receive can impact your premiums.

 

I totally disagree that the amount of mileage and driving records does not matter the most, but other factors, like race and ethnicity make a big difference. I drive half of what OTR averages show (40k/year) and make about $10k for the year and live a very small ranch which should have been two bed room but we call it a 3 bedrooms in a relatively lower tax area with $5000/year. If I pay Progressive what they are asking me (see attached then I am paying over 25 cents to a mile and that brings the base cost to drive to a whopping approx $1.75/mile with all expenses. My average is not even close to that. Royalty Insurance is another Joke on truckers look at the attachment as what he is saying about the coverages. That is ridiculous. Rig Quote said $1200/month on 40k miles and clean records. 4 years exp, Dry Van, nothing special either. Now that's called open terrorism.

 

For the situation you are describing, you would make more leased on to someone elses authority. For 10%-15% they would pay the extra insurance that is killing your cost to operate.

 

Is the above statement true today, for insurance I would need with my own authority?

 

Try progressive

 

Way ahead of you... Called OOIDA and got a quote, which didn't bother me too bad... But, going to check progressive and one more..