Insurance Option

[BobWolf]

I noticed alot of bad press with Progressive rate increases. I will leave my insurance brokers info here. Since expedited work is anich field make sure you tell Nancy I refered you so she can use accurate comps. They work with a few comercial insurance companies as well as Progressive so they have some leverage.

My insurance for Full coverage on the S/T valued just under $50,000 glass, colision, comp, 1 million liability and the C/V 1 million liability only Freight $100,000.00 is
I also have an additional high value spec com and general business coverage.
My total before the High value is under $3,500.00/yr I cant promise you a rate because its based on driving, claims records and credit report. I dont have a perfect score. Even if you have a few dings on your record its worth a call.


Contact Nancy Wright
Schultz Group
585 424 1780
Let her know Bob Wolf refered you so she quotes it right.
Good Luck and post how you made out.


Only one rule. PLEASE No company bashing it only makes you and I look whiners and unprofesional.

Bob Wolf.

 

[OntarioVanMan]

Excuse me Bob....I've just noticed something that has routinely popped up.....But what in good Lord does ones credit score have to do with ones driving ability and being insured?.....

 

[jelliott]

Most insurance companies factor credit score into rates. They started doing that a few years ago.

 

[21cExp]

They check the credit score, I'm assuming, more as an indicator of ability to consistently pay premiums, not of driving ability.

 

[zorry]

The worse your credit score, the harder time you have controlling life in general.
You MAY not maintain your vehicles well, may have more distractions, would be more apt to be tempted to commit fraud.
That's my guess.
Shelly would be able to provide a better answer. The correct one.
Betcha the number crunchers have figured lower credit scores equal higher costs for the insurance company.

 

[OntarioVanMan]

Most insurance companies factor credit score into rates. They started doing that a few years ago.

Why? what does one have to do with the other?....bad credit = bad drivers?

So they penalize you even more so?.....because of some bad luck that has nothing to do with driving....nice

 

[Steady Eddie]

Responsible people =
responsible people whom pay their bills = Good drivers driving responsible. = Good risk.

 

[21cExp]

Without looking it up, I'm betting there has been a study or two that show a correlation, however unfair or unfounded in reality, that people with bad driving records typically have bad credit scores, too. So they charge more to those with lousy credit.

That and, like I wrote, that a bad credit score indicates a likelihood to be slow-pay/no-pay.

 

[Opel2010]

Contact Nancy Wright
Schultz Group
585 424 1780
Let her know Bob Wolf refered you so she quotes it right.
Good Luck and post how you made out.

Bob Wolf.

I called her... unfortunatelly one must be from Rochester, NY area in order to get insured/quoted...

 

[jelliott]

Zorry is correct. Studies have shown a very strong link between credit scores and safety. Some trucking companies will even require credit scores now days. Whether it is fair or not, it does seem to have a direct correlation to losses. Insurance companies are in the business or rating in proportion to risk.

 

[RMPM01]

I called her... unfortunatelly one must be from Rochester, NY area in order to get insured/quoted...

That is too bad
I'm from chicagoland

 

[Opel2010]

Why? what does one have to do with the other?....bad credit = bad drivers?

So they penalize you even more so?.....because of some bad luck that has nothing to do with driving....nice

You realize that we're dealing with another scam just to get more money from us... my credit score went so low like never before just because that dumb from Nissan financing applied to over 20 banks to get a loan for me, but he never told me that. Now I really feel sorry cause I bought that NV

 

[RMPM01]

Zorry is correct. Studies have shown a very strong link between credit scores and safety. Some trucking companies will even require credit scores now days. Whether it is fair or not, it does seem to have a direct correlation to losses. Insurance companies are in the business or rating in proportion to risk.

True, when we insured my personal vehicle with Allstate, the agent showed me my credit rating. Agent will not know your actual credit score. Allstate has rating from 1 to 10.

 

[zorry]

I've been expecting to see more options. This discussion has been going on for a few weeks in different threads.

I'm curious as to how it will change people's business plan . Work more ? Hold out for more ? Change careers ?
Bite the bullet by netting less ?

And, are there any real alternatives out there ? If it was a profitable segment there'd be more companies offering product.

 

[OntarioVanMan]

I've been expecting to see more options. This discussion has been going on for a few weeks in different threads.

I'm curious as to how it will change people's business plan . Work more ? Hold out for more ? Change careers ?
Bite the bullet by netting less ?

And, are there any real alternatives out there ? If it was a profitable segment there'd be more companies offering product.

More options?....

 

[jelliott]

More and more insurance carriers have gotten out of the trucking market. In general the traditional type carrier coverage has gone up as the market has hardened and we are seeing less options. I am guessing the same is happening in the multi carrier model. Insurance companies offset some risk and cost by making investment income. With returns as low as they are, not much revenue there.

 

[OntarioVanMan]

More and more insurance carriers have gotten out of the trucking market. In general the traditional type carrier coverage has gone up as the market has hardened and we are seeing less options. I am guessing the same is happening in the multi carrier model. Insurance companies offset some risk and cost by making investment income. With returns as low as they are, not much revenue there.

Less players, less competition...usually ='s higher the price.

 

[zorry]

More options like call First Guard, Great Western Casualty,etc.
I'm just surprised we haven't seen that.
Are 90% insured through Progressive ?
I am, and hope to be for a long time.

 

[BobWolf]

I think there is more to a person than thier creddit score. Ive seen people who have AAA creddit and will rip you off in a heartbeat and those who are total train wrecks that work at a loss, and are the safest drivers.
As for options? Well thats simple since we live in a get it cheap as we can world the uninsured and unregistered fly by niters will get the work.

 

[BobWolf]

Update.

I found out that My insurance broker can only work with those based in New York state.

Bob Wolf.