Just when things were going good, finally got the truck running good and making some money the past few weeks, someone bashes into the truck while it's sitting at the TA in Elkton, MD. While it will get fixed and the insurance will pay (their insurance), has anyone had this situation and did you come out ok getting anything for lost time & income, hotel costs, rental car costs for drivers, etc.? I'm hoping it's only a couple of days, but just curious as to how others may have come out of a similar situation. Early yet but both insurance companies (mine & theirs) seem to be passing the buck on that part...maybe one will come through yet, but just checking in case. Mine said had to have 10 days downtime before they paid anything, and that isn't much, plus it (hopefully) will not be down near that long. Hopefully won't have to go through the legal system, but will if I need to. Bad luck is if a load had not cancelled last night, they would not have even been there....
bashed in....
- Thread starter osumike33
- Start date
Sorry to hear about the incident, but it would be better to know beforehand if this type of thing is covered.
We are experiencing downtime as a result of an accident right now, and the cow, from what we were told did not have insurance (just kidding).
Our policy provides $175 per day down time, to cover a rental replacement vehicle. As our vehicle is unique (straight w/sleeper), and is not readily available on the rental market, our adjuster is working on getting the 6-day waiting period waived.
Best course of action, as I said, is make sure coverages are in place prior to an accident, and to also make sure you have ample reserves. We're still fine without the downtime coverage, as we plan, plan, plan (lots of time for this devious head to wander at night while driving).
Crazy thing is, I'm as anxious as heck to get back out on the road. I love our home, but adore the road. Truck will be done early next week.
Good luck with your fight.
Edit: For what it's worth, we have Progressive Commercial Insurance through John & Shelley Benisch at Commercial Insurance Solutions. They're an advertiser here on EO, and top-notch folks. They deserve the plug here.
We are experiencing downtime as a result of an accident right now, and the cow, from what we were told did not have insurance (just kidding).
Our policy provides $175 per day down time, to cover a rental replacement vehicle. As our vehicle is unique (straight w/sleeper), and is not readily available on the rental market, our adjuster is working on getting the 6-day waiting period waived.
Best course of action, as I said, is make sure coverages are in place prior to an accident, and to also make sure you have ample reserves. We're still fine without the downtime coverage, as we plan, plan, plan (lots of time for this devious head to wander at night while driving).
Crazy thing is, I'm as anxious as heck to get back out on the road. I love our home, but adore the road. Truck will be done early next week.
Good luck with your fight.
Edit: For what it's worth, we have Progressive Commercial Insurance through John & Shelley Benisch at Commercial Insurance Solutions. They're an advertiser here on EO, and top-notch folks. They deserve the plug here.
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Coverage is the biggest issue and what the other insurance company pays. We had a similar situation 4 years ago and getting the truck fixed wasn't too bad and a daily allotment obtained while it was down. The costs were much higher and our insurance had to hire a out of state lawyer to collect the rest.
Took almost a year to get the rest of what was owed.
It is stuff like this that I always preach keeping adequate reserves. "Bad things happen to good people" and more than once I have seen one of these put someone out of business.
I would usually say keep 10k plus ones bills per truck. With costs continuing to rise, I would say my number is now too low.
Should be more like 12k to 15k. in todays economy.
Took almost a year to get the rest of what was owed.
It is stuff like this that I always preach keeping adequate reserves. "Bad things happen to good people" and more than once I have seen one of these put someone out of business.
I would usually say keep 10k plus ones bills per truck. With costs continuing to rise, I would say my number is now too low.
Should be more like 12k to 15k. in todays economy.
chefdennis
Veteran Expediter
Very, very smart. I look at it from a fleet owner perspective and my income is still generating in the event a truck goes down for whatever reason. A single operation it all stops.
Great advice.
Thanks all. I don't have a real problem with the income I might miss, want to make sure the drivers are covered, plus just the fact that I think that it's only fair that we not lose money due to someone else's negligence. So I plan on doing whatever to recoup not only what we spend but also what we won't be making these few days. And it seems anytime something happens, it's always on a Friday so we get stuck for a weekend when few people seem to work these days!
You need to read this post.
http://www.expeditersonline.com/for...68-thanks-commercial-insurance-solutions.html
When our truck was damaged by a hit and run driver we were paid downtime for all days.
http://www.expeditersonline.com/for...68-thanks-commercial-insurance-solutions.html
When our truck was damaged by a hit and run driver we were paid downtime for all days.