Risk management fee for insurance? What is it?

Discussion in 'Ask An Owner Operator' started by amrogers3, Feb 1, 2021.

  1. amrogers3

    amrogers3 Bobtail Member

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    You guys ever heard of a risk management fee for insurance?

    I was leased onto a company and they used Triumph Insurance. Anyway, they charged me a $1500 deposit for a risk management fee and said it wasn't refundable. I was only leased on about two weeks.

    Anyone heard of this? Never heard of this before.
     
    77fib77 Thanks this.
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  3. ibcalm19

    ibcalm19 Heavy Load Member

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    Never heard of that. Did you pay the $1500.
     
  4. Eddiec

    Eddiec Road Train Member

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    Sounds like the paperwork fee that car dealers charge. Did you ask for an explanation?
     
  5. Spyro2112

    Spyro2112 Medium Load Member

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    Run. Run like the wind
     
    TallJoe Thanks this.
  6. TallJoe

    TallJoe Road Train Member

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    Never heard of it.
    A risk management fee...but what's the nature of the risk they manage? For $1500 you deserve an explanation. Did they have anything like that at least mentioned in the lease agreement you signed? If not, I'd have issue with that.
     
  7. amrogers3

    amrogers3 Bobtail Member

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    I had to pay they took it straight out of my check.

    Only thing I can say is stay away from Triumph insurance and the company I am leased onto.
     
  8. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    Are you sure that the money actually went to the insurance company? Sounds suspicious to me. Or maybe I'm a little cynical, I don't know. But I would want to see some documentation on this.
     
    MOBee and GoneButNotForgotten Thank this.
  9. GoneButNotForgotten

    GoneButNotForgotten Heavy Load Member

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    Almost sounds like one of those magical and phony type of upcharge fees that new car dealerships want to throw on you.
     
  10. amrogers3

    amrogers3 Bobtail Member

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    I'm not sure what to do. How could I dispute this, these guys are scamming me for sure.
     
  11. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    Tine to find a better place to work.
     
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