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Taking the plunge. My journey as an O/O.

Discussion in 'Ask An Owner Operator' started by Farmerbob1, Jan 7, 2019.

Page 83 of 256
  1. Nov 22, 2019 #821
    Long FLD

    Long FLD Road Train Member

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    What kind of insurance do you have that will total the truck due to cost of repairs?
     
    Long FLD, Nov 22, 2019
    Long FLD, Nov 22, 2019
    #821
    whoopNride, Opendeckin, 062 and 3 others Thank this.
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  3. Nov 22, 2019 #822
    Tug Toy

    Tug Toy Road Train Member

    6,943
    72,612
    Jul 4, 2015
    Corn field
    0
    I’m wondering the same thing?
     
    Tug Toy, Nov 22, 2019
    Tug Toy, Nov 22, 2019
    #822
    whoopNride, Opendeckin, 062 and 1 other person Thank this.
  4. Nov 22, 2019 #823
    Farmerbob1

    Farmerbob1 Road Train Member

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    Documents are not with me at this time (they are in the truck,) but I believe it was insurance on the loan itself.

    Hopefully it won't come to that.
     
    Farmerbob1, Nov 22, 2019
    Farmerbob1, Nov 22, 2019
    #823
    062 and Long FLD Thank this.
  5. Nov 22, 2019 #824
    Eldiablo

    Eldiablo Heavy Load Member

    863
    5,701
    Jul 15, 2016
    0
    Do you still think hauling cheap is a good thing?
     
    Eldiablo, Nov 22, 2019
    Eldiablo, Nov 22, 2019
    #824
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  7. Nov 22, 2019 #825
    INRUT

    INRUT Medium Load Member

    530
    1,892
    Aug 21, 2016
    0
    Well, this happened quicker then I thought, that’s probably a good thing. Don’t fall into the trap of going to get another truck. Go back as a company driver for 4 years & put 20-30k a year into real estate.
     
    INRUT, Nov 22, 2019
    INRUT, Nov 22, 2019
    #825
  8. Nov 22, 2019 #826
    Farmerbob1

    Farmerbob1 Road Train Member

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    I've been thinking and I'm pretty sure that the payout insurance isn't what I was thinking it was earlier. As others mentioned, it seems a strange sort of insurance. I suspect it was simply insurance to cover the loan if the truck were to be totaled in an accident.
     
    Farmerbob1, Nov 22, 2019
    Farmerbob1, Nov 22, 2019
    #826
    Tug Toy Thanks this.
  9. Nov 22, 2019 #827
    Farmerbob1

    Farmerbob1 Road Train Member

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    I have absolutely no regrets whatsoever for the path I took. I had solid reasons for what I did, and I would do the exact same thing again if I didn't have the experience I do now.

    If the warrantee company finds a way to screw me on the truck, I'll simply pick up the pieces, duck my head a bit, and drive on.

    If I end up losing the truck, I will take that experience with me, and once I have @20k or so liquid and no debt, I will buy a new truck and sign on with a company that offers o/o a load board.

    It's really too early to be making predictions though.
     
    Farmerbob1, Nov 22, 2019
    Farmerbob1, Nov 22, 2019
    #827
    Tug Toy and 062 Thank this.
  10. Nov 22, 2019 #828
    kwswan

    kwswan Road Train Member

    1,939
    10,254
    Jul 26, 2009
    mcminnville,tn.
    0
    That's gap insurance. I don't think there's a insurance policy that will total a truck out because the repairs are too expensive.
     
    kwswan, Nov 22, 2019
    kwswan, Nov 22, 2019
    #828
    whoopNride and Farmerbob1 Thank this.
  11. Nov 22, 2019 #829
    snowwy

    snowwy Road Train Member

    20,539
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    That's gap insurance. I have it for my car.
     
    snowwy, Nov 22, 2019
    snowwy, Nov 22, 2019
    #829
    Farmerbob1 Thanks this.
  12. Nov 22, 2019 #830
    Farmerbob1

    Farmerbob1 Road Train Member

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    Indeed. I was thinking about it and realized how silly it sounded.
     
    Farmerbob1, Nov 22, 2019
    Farmerbob1, Nov 22, 2019
    #830
    kwswan Thanks this.
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