Agreed. On the surface it sounds awfully high, but keep digging. I'm just under $4K through Progressive & CIS. Clean record, no claims ...
Cargo Van Insurance rates
- Thread starter Opel2010
- Start date
Agreed. On the surface it sounds awfully high, but keep digging. I'm just under $4K through Progressive & CIS. Clean record, no claims ...
Yes, we are a team, right at $4k with Progressive & CIS, clean records, no claims.
as some mentioned earlier when you go to buy the policy your cheapest option will be to pay the whole premium at once. if you go on the monthly payment plan they may require a 25% down to start the policy. but if you go with quarterly payment you just pay 3 months premium at purchase or 25%. you need to be able to at least do this option it will let you get 90 days in before your next premium is due. and in this industry as a small carrier you will have up and down weeks and I prefer to look at expedite by the quarter not the month.
keep in mind the replacement value rider....don't over value your van....I see some that do...that makes a whack of difference....
I have NO replacement rider on my million mile van....as what they charge works out to almost $1,000 per every $10,000 of coverage....
I am just hoping to hit a very small deer if I do....LOL
just figure that would be a $1,000 for the coverage @ the $10,000 add in the $1,000 deductible....Thats $2,000 worth of damage right there...
I have NO replacement rider on my million mile van....as what they charge works out to almost $1,000 per every $10,000 of coverage....
I am just hoping to hit a very small deer if I do....LOL
just figure that would be a $1,000 for the coverage @ the $10,000 add in the $1,000 deductible....Thats $2,000 worth of damage right there...
Dave Ramsey believes that the decision point for collision & comprehensive is, can you replace your vehicle by writing a check? If you can, you don't need c&c; if like me you cannot, then you do. Of course, if your vehicle is financed, you typically have no choice; you're contractually obligated to carry collision & comp.
Lol....
Gotta to give Opel a credit for starting this thread.
His thread just boost the CIS(Progressive) ratings to a 5-Star.
Personally, for the customer service, CIS gets my 5-Star.
Gotta to give Opel a credit for starting this thread.
His thread just boost the CIS(Progressive) ratings to a 5-Star.
Personally, for the customer service, CIS gets my 5-Star.
What I don't understand is how some of you guys are paying such low rates for 1 million liability and 100k cargo insurance. If you're paying less per year for your coverage than the straight truck and tractor trailer owner operators, you're not properly covered. How many of you guys have mileage restrictions? I would break out your policies and go over them with a fine tooth comb to see if you are properly covered for such cheap premiums!
I just deleted a tractor and a straight from my policy I will take a look and see if the million and 100k was the same cost per unit. its the other riders that jack up the price like unowned trailer and the comp and collision on those types units.I can afford to write checks to replace vans so I don't carry it on the vans and if the tractor or straights need it they can get it themselves by law I have to have the units on my cargo and public liabillity and that is all I pay for myself.
16k, 24k really? Sounds like fleet insurance.
That was my thought also Dave.
Have to be missing something to get to that rate for a single cargo van. Would be much better off hooking up with a reputable carrier. Wouldn't be paying anything close to that. Even with "fees".
I believe that was the idea for raising the rates, to "kill" the small carriers by pushing the O/O's to those larger carriers that offer their own insurance for way lower rates.
Why would progressive want to kill off business they don't write fleet insurance.
Now that is silly since they are underwritten by other insurance carriers. No need to complicate the simple. Why would they intentionally want to move prospective business to another competitor? Correct! It makes no sense.
I have to wonder if new policies from progressive are seeing much higher rates than older renewing policies? I think progressive came into the market way too long and under estimated the risk. Seems like people I talk too are seeing much higher rates on new policies. It's pretty simple math. Look at the rate they charge, look at the losses they pay. It all balances out in the end. I said years ago the rates people were paying were not sustainable. It's just honestly basic math.
But I agree any policy needs to be gone over. Radius restrictions? Is it a true expediter policy or a courier policy? Cargo exemptions? Does the insurance carrier say they will pay first OR do they believe that the carrier you are hauling for is going to pay first and they are secondary coverage? Not every agent knows trucking and I have learned not to trust a lot of agents. My advice....call the actual insurance company to understand your coverage and what was submitted to them. You may not like what you hear or you may have true piece of mind.
But I agree any policy needs to be gone over. Radius restrictions? Is it a true expediter policy or a courier policy? Cargo exemptions? Does the insurance carrier say they will pay first OR do they believe that the carrier you are hauling for is going to pay first and they are secondary coverage? Not every agent knows trucking and I have learned not to trust a lot of agents. My advice....call the actual insurance company to understand your coverage and what was submitted to them. You may not like what you hear or you may have true piece of mind.
They would easily be liable under their contract to the carrier. The carrier may say....don't worry we have a policy too. But those policies normally don't kick in until the owner operators policy has paid. So two insurance companies saying....claim denied.
When I was in Canada a policy 10 yrs ago was pretty darned close to 10K for cross border coverage...about 6k without....the US I think is just catching up to the real cost of the risks...while competition seems to be always good....there is the times where now is the time to reflect actual costs...just saying