Trucking Insurance question.

Ooida requires 4 yrs? That’s something new. I had them 16 yrs ago, from the beginning, for about 7 or 8 yrs. My experience with all of Ooida insurance is that it’s overpriced. The Trucking insurance, is technically a risk retention group, not an insurance company. Better options than Ooida are available, when you get more time in bussiness. Mine went up to $9200, this year. New Carrier rates are so high, I’m surprised anyone is still getting their own authority. The price of newer Trucks is so high, the numbers just don’t add up. Too much investment for too little return.

 

When did new O/Os become a rarity? How many threads do you see here in a week about somebody wanting to be an O/O?

 

The problem is too many new Carriers jumped in, and had too many claims. I’m not sure exactly when it happened, around 2012 maybe, but insurance companies started charging new Carriers more, because of the increased risk. It wasn’t that way when I started out in 04. At that time, my rate was only slightly higher than average. They wanted my bussiness. Apparently they have plenty of business these days. More than they want.

 

Look how many lawyer billboards specialize in big truck accident claims. Why? Big policy means big awards.

The more lawyers come after trucks the more policy premiums have to go up. Same with healthcare malpractice insurance premiums. Keep suing doctors and awarding set for life payouts, healthcare will skyrocket until govt care is all anyone can afford.

Its all a wealth transfer scheme where those who didnt earn it get it from those who did.


See if you can get the govt to start a lawyer euthanization program. That'd help us more than any subsidy.

 

I heard that most of our representatives are former lawyers, so good luck with any “lawyer euthanization programs”.

 

Take a look at how smoothly things run such as the DMV and other government agencies and you want them in charge of insurance? No thanks.

 

Government insurance? Sounds like a Bernie Boy.....let’s get the government involved in everything.....everything the government (City, State, Federal) gets involved with is a waste of tax payer money, and heavy on bureaucracy and low on benefit to the tax payer.

 

The people that are buying $600 hammers are not the answer to cheap and efficient anything.

 

I think it was Milton Friedman who said If you put the federal govt in charge of the Sahara Desert there would be a sand shortage by next year.

 

This would only give government more control! NO ON THE GOVERNMENT INSURANCE!