expediter insurance

jerrygee · Mar 8, 2013

I was just quoted 7200.00 a year thru Progresive! I have one speeding ticket and nothing else. I had another for 4600.00 a year. Most agents I talk to don,t have a clue...cargo van and I need 1 million liability and 100,000 cargo. Any advice would be greatly appreciated. Thanks

zorry · Mar 8, 2013

As you're inclined to take the lower priced policy,read it very carefully.
Insurance is not a place to skimp.

Is retirement an option ?

davekc · Mar 8, 2013

Are leased to a carrier? That number sounds high unless you are running under your own authority.

jerrygee · Mar 8, 2013

I am leasing to a carrier.

zorry · Mar 8, 2013

OOIDA won't finance an expeditor. Will they insure one ?

jerrygee · Mar 8, 2013

Ok...I might regret this but...what is OOIDA.

osumike33 · Mar 8, 2013

jerrygee said:
I was just quoted 7200.00 a year thru Progresive! I have one speeding ticket and nothing else. I had another for 4600.00 a year. Most agents I talk to don,t have a clue...cargo van and I need 1 million liability and 100,000 cargo. Any advice would be greatly appreciated. Thanks

If you're leasing to a carrier not sure why you would need that much insurance...should be the carriers responsibility....and OOIDA is an association for truckers/owner operators. Worth joining for $45 a year. If you're leasing to a carrier and they want you to provide the insurance...might reconsider the carrier.

21cExp · Mar 8, 2013

Don't know if it is the speeding ticket or something else like credit score that's bumping up your premium so much, but more the norm is--for that type of coverage with low deductibles--at least through Progressive via CIS, around 270/month or 3240/yr. That can be adjusted depending on how much you want to vary the deductibles, etc, while keeping the 100,000/1,000,000.

zorry · Mar 8, 2013

jerrygee said:
I am leasing to a carrier.

Is Progressive aware that you are leased to a carrier ? With the coverages you need it does sound like you run under your own authority.

Rocketman · Mar 8, 2013

I have a feeling that a lot of questions will be answered in Shelly's blog over the next few weeks.

21cExp · Mar 8, 2013

Rocketman said:
I have a feeling that a lot of questions will be answered in Shelly's blog over the next few weeks.

Yep, probably. Those whose premium renewals have come due are seeing jumps of varying degrees...and I'm betting a lot of the discrepancy in numbers and new quotes stem from that.

She responded to another thread in here last week about this

LDB · Mar 9, 2013

You can use my OOIDA number, 677319, to get a $20 discount when signing up, or use anyone's number but you are welcome to use mine. If you haven't already checked with CIS, one of the sponsors here at the forum, be sure to do so. They are a GREAT group to work with and they know expediting better than anyone so they know how to optimize things in your favor. Good luck.

blizzard2014 · Mar 9, 2013

jerrygee said:
I was just quoted 7200.00 a year thru Progresive! I have one speeding ticket and nothing else. I had another for 4600.00 a year. Most agents I talk to don,t have a clue...cargo van and I need 1 million liability and 100,000 cargo. Any advice would be greatly appreciated. Thanks

Why would you pay all that money to purchase your own cargo insurance so you can run your truck for 85 cents per mile? It's time to scrap the multi-carrier model and head back to one of the bigger companies!

sirgregory46 · Mar 9, 2013

Sounds like they don't understand your business. I have to carry full liability and my insurance is about 3200$ a year. I would get a quote from Cis the ladies there do good work. They did say there was a jump on insurance premiums. To many people running into things. Lol