Something went down!!!

[RostyC]

Look around guys........... everything seems to be constantly going up in price. Mechanics Labor, Tires, Parts, Food, Taxes, Insurance.........WAIT! Maybe not Insurance

I just received my renewal quote for insurance (liability, cargo)and it dropped $957.00 over last year. :thumbsup::smokin::cool::D

Last year was my first year in this business, well actually October 20 was my first load but it was Sept.22 when I secured ins. First year premuim was 6954.00. This year is 5997.00.

I've been a good boy! Didn't hit a thing or a people (not for lack of trying :lol:, I'm kidding), nothing fell off the trailer, (there was that insulation that tried to escape off the back but I lassoed it back in. :cool:) So for my efforts I'm finally rewarded with a break in cost! My repairs this year were astronomical so it's nice to get break. Oh I'm feeling good. :lol:

I'll be accepting way to go's, atta boys, pats on the back, and of course the ole Indian head rub all week long, then it's back to business as usual. :D

[chris1]

Somebody will be holding their hand out for it. I went down 5-6% each year for the last five years. See what happens in december. Of course my medical went up 7-8% at the same time.

[RostyC]

Somebody will be holding their hand out for it. I went down 5-6% each year for the last five years. See what happens in december. Of course my medical went up 7-8% at the same time.

Oh no doubt in my mind that some one will come along and grab it, that's why it's only a week long celebration period. :D

BTW..... you forgot my attaboy. :lol:

[chris1]

attaboy

[RostyC]

attaboy

Hey Thanks! you shouldn't have. :D :D

[salbo]

you guys should give GEICO a call.There rates are 1/2 what Progressive wants for a new owner-operator

[SickRick]

you guys should give GEICO a call.There rates are 1/2 what Progressive wants for a new owner-operator

For TRUCKING LIABILITY or bobtail? Progressive ONLY WRITES 500 mile radius for new (newly CDL licensed) O/O's. Need to have you license for more than 1 year to be considered by other companies for 48 state insurance (they consider it nice if you actually DROVE that year and had experience, not just the issue date on the CDL).

Rick

Oh, Attaboy on that rate reduction... What kinda cargo you carry?

[luckyky00]

I pay $120 a month for bobtail insurance..not sure if this is high or decent rate...never checked around just got the insurance through the company I'm leased onto...

[GMAN]

Atta boy, RostyC. It is nice when something goes down. By the way, I have found that it pays to check around on rates each year. While some go down, others may go up.

And Luckyky00, you may want to check around for your bobtail. $120/month seems a bit high. If I remember correctly, most rates seem to fall somewhere between $30-60/month with most carriers. If you are a member of OODIA you might check their rates.

[RostyC]

For TRUCKING LIABILITY or bobtail? Progressive ONLY WRITES 500 mile radius for new (newly CDL licensed) O/O's. Need to have you license for more than 1 year to be considered by other companies for 48 state insurance (they consider it nice if you actually DROVE that year and had experience, not just the issue date on the CDL).

Rick

Oh, Attaboy on that rate reduction... What kinda cargo you carry?

Just general flatbed freight.... lumber, rebar, small equipment, plywood, heating units here lately (i like these, light as a feather). There's a mix of other stuff but this is the usual.

Thanks for the attaboy. :)

[RostyC]

attaboy duly noted GMAN thank you.

I think next year I'll shop it around, I like the policy from Northland though. I think after two years with (hopefully) no claims I should see another significant drop. Then after that not much of a drop. What do you guys think?


I got to thinking last night, if I use trucker math my savings is probably somewhere in the neighborhood of 16 to 1700?

[Bandit102]

Our insurance renews in September. Our agent always shops rates every year. Our company, Great Western has been returning some spectacular reduced rates this year according to our agent. Sure hope so! I don't know if I want to spend another $30,000 on insurance in this market. Thats for 4 trucks and trailers, General Commercial Liability at $1 million and $200,000 Cargo last year.

[chris1]

Our insurance renews in September. Our agent always shops rates every year. Our company, Great Western has been returning some spectacular reduced rates this year according to our agent. Sure hope so! I don't know if I want to spend another $30,000 on insurance in this market. Thats for 4 trucks and trailers, General Commercial Liability at $1 million and $200,000 Cargo last year.
I'll swap you a year for a month.

[GMAN]

attaboy duly noted GMAN thank you.

I think next year I'll shop it around, I like the policy from Northland though. I think after two years with (hopefully) no claims I should see another significant drop. Then after that not much of a drop. What do you guys think?


I got to thinking last night, if I use trucker math my savings is probably somewhere in the neighborhood of 16 to 1700?


Northland seems to come down each year for about 3 or 4 years. A friend of mine who runs his own authority had his rates reduced this year. Northland is rather strange in the way they do their rates. They will go up on rates if you have driver turnover whether there are tickets or claims or not. If you run your authority with a single truck and not drivers I think you should be able to get a discount. Insurance companies will use any excuse to go up on rates.

[GMAN]

Our insurance renews in September. Our agent always shops rates every year. Our company, Great Western has been returning some spectacular reduced rates this year according to our agent. Sure hope so! I don't know if I want to spend another $30,000 on insurance in this market. Thats for 4 trucks and trailers, General Commercial Liability at $1 million and $200,000 Cargo last year.


Great West has always been high on quotes for me. I think it depends on where you base your business. $30,000 seems a little high for 4 trucks. Hopefully, you can find a better rate this year.

[Mackman]

My repairs this year were astronomical

It wouldnt be that way if you got that NEW truck you were looking at a while back :thumbsup:

[heavyhaulerss]

I pay $120 a month for bobtail insurance..not sure if this is high or decent rate...never checked around just got the insurance through the company I'm leased onto...

I pay 70.00 a month

[chris1]

Northland is rather strange in the way they do their rates. They will go up on rates if you have driver turnover whether there are tickets or claims or not.
That's because drivers with less than a year at a new company have the highest accident rate.

[RostyC]

It wouldnt be that way if you got that NEW truck you were looking at a while back :thumbsup:

Hey! Don't need no comments from the peanut gallery! :D

Troublemaker......... :lol:

[GMAN]

That's because drivers with less than a year at a new company have the highest accident rate.


I can understand if a driver has less than 1 year experience total. It doesn't make sense that a driver who has less than a year with a new company would have a higher accident rate just because he changed carriers. He is driving the same type of equipment and likely hauling the same type of freight. They never mentioned that a new driver with experience is more likely to have an accident just because he changed companies.

[chris1]

Ask your insurance rep(not your agent) for the statistics. Driver retention/turnover also lowers your rate. Don't know about single O/O's but multiple trucks participating in a carrier compliance program will lower the rate also.

[GMAN]

That is a good idea, chris1.