Truck & Trailer Insurance for New Owner Operators

I've had Progressive quote me most recently $9500 (with a sane payment plan) but when I went to start the policy they raised the rate up to 13k and only offering me to pay HALF upfront and the other half in 30 days. Seems they're using this across the board after hearing they've done it to you too.

When leased on to a carrier the OO is running off of the carrier's Liability so there is no benefit other than adding the obligatory driving experience. However, if the OO uses their own NTL/Bobtail insurance policy that can help establish a commercial insurance policy history. Most underwriters want to see a 2 year period for that. It certainly helps.

 

My numbers are nearly identical to that. If I were to reactivate my numbers with my current trucks it would cost me about $45k the first year. I will stick to being leased

 

How do you guys feel about buying an old MC number for a new driver to lower insurance costs?

 

It won't work. Plenty of threads here to break it down for you. Also, I don't think new drivers should be worrying about being a new entrant until they've got a couple years under their belt in the field.

 

Try National General insurance. That’s who I use. Was $15k first year for one truck and I think about $2000 for cargo which was separate. After first year I pay $22k for 3 trucks

 

New owner/op 6 years driving experience. $8568 first year through a local insurance agent. 1mil/100k

 

Who was your insurance company and agent?

 

The major factors that influence your rate are the location where the truck is based, the MVR of the driver(s), and the insured value of the truck itself.

Get a good independent agent and they will tell you what the insurance companies want to see in order to get you the best rate.