One of the most common questions I get is “Which state is the cheapest for Truck Insurance? Here is *Progressive’s take on average per year insurance rates for a new start up with a Tractor Trailer. Some states are quite surprising, don’t you think?
Here's an Addendum to the current EO Thread "Insurance Coverage and the 'Multi' Carrier Model" or "Why DO Cargo Vans and Sprinters need $1 Million in Liability?" Arguments are certainly made that since FMCSA only requires $300,000 Liability for under 10K GVW units hauling across state lines, why carry more?
Adding to John Mueller's excellent Blog below left, "All About Cargo", I wanted everyone to be aware that there is a Cargo policy starting to float around our Expediting Community that is ACV vs Legal or Broad Form in how it pays out claims. Why is that important to you?
Given the number of policies with $1 Million General Liability and State Minimum Auto Liability currently popping up, it's a good time to talk about the vast difference between the two types of insurance whether you're an Owner Op, Motor Carrier or Broker.
Several new Independent Contractors have asked for a cheat sheet on common insurance lingo they hear thrown around, and for my veteran Expediters out there who might like a refresher course in Expediting Insurance 101...here you go!