Insurance

[RoadHouse]

Hopefully if these multi-carrier companies are forced to put their drivers on their own insurance policies, they will bid higher rates to cover the additional expense and rates will rise for the drivers. I think the brokers who are pushing for this change in business model will be the ones who lose in the end. They won't be able to find trucks to haul their cheap freight. Most brokers are all about bottom line and are just as shady as some of the carriers out there.

 

[jelliott]

What I meant to say is that they are still getting loads from brokers no problem.

Ok well that is a different animal. I think that will start to change as shippers and load boards start demanding TEANA VOI certification. Many if them are pushing for the program to make sure that they and their shippers are properly covered. In this era of litigation they are more and more worried about loose ends.

 

[RoadHouse]

Also, if a carrier employs exclusive drivers that pay for their own cargo and liability insurance, isn't that technically the same thing as the multi-carrier model? The shipper or carrier they get loads from will only see the primary insurance on 1 company owned vehicle, not the other fifty or so trucks. Wouldn't the carrier have to put all of their trucks on their own primary policy listing all of the vin numbers to ensure that the shippers are fully protected from losses?

 

[RoadHouse]

I read that Progressive doesn't write policies for large fleets. So, technically, even a carrier who has Progressive as their primary insurer is not running a large carrier operation properly. I'm not talking about the 1 guy in a van deal booking his own loads. I'm talking about a carrier that has fifty trucks. True and proper large carriers need to have a real fleet trucking policy, right? I might be wrong here though as I'm not sure how many vehicles Progress can write on one companies policy.

 

[jelliott]

I think both your posts are correct for the most part. The multi model can work but the motor carrier must demand and monitor that his unit supplied insurance policies are proper. Even if he does it right but then allows his trucks to have insurance from carriers that don't write trucking or policies that do not hold the same limits it is a fail.

 

[CharlesD]

I read that Progressive doesn't write policies for large fleets. So, technically, even a carrier who has Progressive as their primary insurer is not running a large carrier operation properly. I'm not talking about the 1 guy in a van deal booking his own loads. I'm talking about a carrier that has fifty trucks. True and proper large carriers need to have a real fleet trucking policy, right? I might be wrong here though as I'm not sure how many vehicles Progress can write on one companies policy.

Yep. We're at 40 trucks currently and will be at 50 before long. We had to switch to a large fleet policy. Our cost per unit is actually lower than it was when we were smaller and on Progressive.

 

[guido4475]

I have insurance with State Farm. I pay $226.00 per month for full coverage, $1,000,000 liability, and $250,000 cargo insurance. My CV is a 2006.

Holy moly! I have an 03 van where my full coverage ins. Through Load One is 15 bucks a week. I can live with that..

Sent from my SAMSUNG-SGH-I717 using EO Forums mobile app

 

[FlyingVan]

Holy moly! I have an 03 van where my full coverage ins. Through Load One is 15 bucks a week. I can live with that..

Sent from my SAMSUNG-SGH-I717 using EO Forums mobile app

Yes, but you dont pay for primary liability and cargo insurance, Load 1 does. Cargo is not much, but primary liability is what costs a lot.

Sent from my SM-G900P using EO Forums mobile app

 

[Mailer]

Holy moly! I have an 03 van where my full coverage ins. Through Load One is 15 bucks a week. I can live with that..

Sent from my SAMSUNG-SGH-I717 using EO Forums mobile app

Huh? LOL, that's pretty good incentives for partnering with Load 1. Let us know when Load 1 decides to add the insurance broker business, I'll jump on it

 

[guido4475]

Huh? LOL, that's pretty good incentives for partnering with Load 1. Let us know when Load 1 decides to add the insurance broker business, I'll jump on it

I do apologize....for providing false info....it's more closer to 17 bucks a week after checking my records....

 

[guido4475]

Yes, but you dont pay for primary liability and cargo insurance, Load 1 does. Cargo is not much, but primary liability is what costs a lot.

Sent from my SM-G900P using EO Forums mobile app

And this is kinda sorta what I do not understand.....Why would anyone want to go through all of the B.S. involved with leasing onto several carriers at once? To add to the amount of phone calls one has to make, to let's say, the other 4 carriers when he is awarded a load form the cheapest bidder that they all were bidding on, against each other, to let them all know he got the load and will end up in say Dallas, ready to get bent over again? Why pay so much more for insuranace to haul for lower rates? I don't get it. Oh, the lack of a Quallcomm? I'd rather have one of those than anything to begin with. The advantages are priceless, in my book. I have a friend, who does the multi-carrier thing...from what I have heard, he pays in the 7 grand a year for insurance to begin with....and, for the last 2 years in a row, has made 25 grand LESS than I did, while paying close to $6,184.00 a year more for insurance than I do...and he sits just as much as I do at times...while his total miles driving were more than I have..I just don't get where the advantages are of the multi-carrier platform, to be honest...

IMO, the multi-carrier platform is as damaging to this industry as Obama is to our country.

I know and realize I went off topic here, but I was just trying to prove a point and wondering, that's all...

Please carry on..

 

[FlyingVan]

I agree with you, Guido. I truly believe that the multi destroyed the rates for all of us vaners.

However, there are different circumstances that people are in. For example, some people have older cargo vans that are useless for the 'good' companies and they can't afford to by something newer to be considered by the good companies, so they use what they have and try to make it. Other people have newer sprinter type vehicles, but there is only one Load 1, and they have 8+ months waiting list.

So, I believe, people that do the multi model, and people that pay their own primary liability and cargo insurance are not doing it because they are stupid. They are doing it because they have no other choice. Be happy that you are one of the lucky ones that was able to get on with Load 1 and don't look down at the multis.

Sent from my SM-G900P using EO Forums mobile app

 

[guido4475]

I agree with you, Guido. I truly believe that the multi destroyed the rates for all of us vaners.

However, there are different circumstances that people are in. For example, some people have older cargo vans that are useless for the 'good' companies and they can't afford to by something newer to be considered by the good companies, so they use what they have and try to make it. Other people have newer sprinter type vehicles, but there is only one Load 1, and they have 8+ months waiting list.

So, I believe, people that do the multi model, and people that pay their own primary liability and cargo insurance are not doing it because they are stupid. They are doing it because they have no other choice. Be happy that you are one of the lucky ones that was able to get on with Load 1 and don't look down at the multis.

Sent from my SM-G900P using EO Forums mobile app

I don't see where I used the word, or inferred of stupid here...at least I wasnt trying to say that, even though it may of looked that way....

Older equipment,, I think can be accepted at almost any carrier....if it is kept up on maintenance, and kept good looking, while being dependable and not breaking down on a continual basis...
I understand there are a few carriers who do take only newer vehicles...But I have to wonder at times, if they do this to keep the owner desperate for money whereas they will take any and every load offered, out of desperation, where a guy with a older, paid for vehicle has more "Wiggle Room"....as to what he wants to do or not as far as loads are concerned.

Wasn't trying to step on any toes here, even though I am sure it appears that way....

 

[Mailer]

Wasn't trying to step on any toes here, even though I am sure it appears that way....

Hey guido, you can step on my toes anytime, as long as I get that $17 bucks a week insurance, LOL.

 

[T270_Dreamin]

Got a quote from this company for $5200 a year.

https://www.bhhc.com/commercial-auto/product-information/trucking.aspx

Still waiting to hear from Canal and Travelers. Progressive is out of the picture and I'm glad. There needs to be other providers out there so they can't monopolize the market which they seem to have done a good job at doing!

The best thing to search is transportation insurance and your zip code.

 

[kg]

There is another way to look at insurance. If you pay a monthly amount to a carrier for their insurance, the insurance company is theirs and has the carrier's best interest in mind when settling a claim.
However if you carry the insurance the insurance company looks after your best interest and the carrier becomes the additionally insured.

Perhaps a fine point , but one to consider if you have an option to choose.

Stay safe
KG

 

[paidtourist]

Renewal with Progressive coming up for CV. Another nearly $800.00 increase. I have not had a ticket in over 25 yrs. Im ready to tell them to shove it. Im based in NC. Would be very thankful for help on leads to another Ins. Co.

Well I just changed Ins. Co. So long Progressive. Saved nearly $2000.00 a year. Anybody based out of NC and wants to check them out, call Suggs Ins. in Sanford NC. 919-774-1904. Ask for Cindy. If you would, tell them Allen Hearn Jr sent you. Don't know if it will help me, but can't hurt.

 

[jelliott]

Well I just changed Ins. Co. So long Progressive. Saved nearly $2000.00 a year. Anybody based out of NC and wants to check them out, call Suggs Ins. in Sanford NC. 919-774-1904. Ask for Cindy. If you would, tell them Allen Hearn Jr sent you. Don't know if it will help me, but can't hurt.

Are they an agent or an insurance company? Who is the carrier you went with?

 

[MLTransCorp]

Well I just changed Ins. Co. So long Progressive. Saved nearly $2000.00 a year. Anybody based out of NC and wants to check them out, call Suggs Ins. in Sanford NC. 919-774-1904. Ask for Cindy. If you would, tell them Allen Hearn Jr sent you. Don't know if it will help me, but can't hurt.

What is the radius of coverage? Progressive was the only underwriter that covered more than a 400 mile radius I could find. Most use your home address for the radius.

 

[paidtourist]

What is the radius of coverage? Progressive was the only underwriter that covered more than a 400 mile radius I could find. Most use your home address for the radius.

Its the lower 48 I know. Didnt ask about Canada since I dont go up there any more.