SO riddle me this Mr insurance man.

we used to pay ~$15,000 per truck to Markell. Did so for many, many years. Then I changed insurance brokers and he put me onto Old Republic and the rates got cut in half. My mistake was staying with the insurance broker that we had for decades. He didn't have an agreement with Old Republic and therefore wouldn't give me the cheap rate. If you have a clean record, maybe try a different broker.

 

this needs to be tatooed on the forehead of every business owner

insurance companies are running the usa, because every company and individual is beholden to them either legally or financially or both

this translates into insurance companies micro-managing business in the usa, that is a dangerous format

for example, your drivers are too fat, your insurance goes up
so lets monitor their food intake

lets use their credit score to determine their insurance rates (because people with good credit are better drivers), lets use their occupation (because doctors are safer drivers than walmart employees)
lets use their eye color, because blue eyed drivers are statistically better drivers than hazel eyed drivers

lets use their address

lets use anything but their actual driving record, because if they havent had an accident in 30 years but they have 50 speeding tickets, they are risky drivers

 

If you have been in the business so long then you should know that just throwing a rate out is meaningless. For some industries a $15k premium would be cheap. For me, $7k is high. It is all about risk. Guess I am still not understanding what the issue is. They provide a service and as a carrier you compare prices with services and decide what you are willing to pay for. How are we sheep? It is not like this is a service that is not needed. #confussed

 

You know, I am a business person. And I do some of the same things that insurance companies do when if comes to who I agree to lease on.

Does that make me a bad person?

Insurance premiums are about assessing risk. And if the large volume of data that an insurance company has allows them to assign risk better, then I am all for it.

Great example is the new health laws. Insurance companies are having to take on additional risk but not allowed to assign that risk to the higher risk categories. So what do they have to do? Spread the risk across the board and increasing rates for all.

I hate all this socialism talk about how it is not fair that a fat person shouldn't be treated differently than a skinny person (being one of the fat people this statement would not be considered politically incorrect ).

And it is not micro management, it is me working with my insurance company to figure out how I can get the best rate possible. If I don't like it then I can pay the increased rate and do it the way I want to. But at least they are telling me what actions they consider to be higher risks so that I have a chance to change those actions.

 

LMFAO - you clearly don't know me or anything about how my business has been built.