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sarniko

Active Expediter
Driver
Offline
I have been with progressive for more than 3 years though CIS and had yearly premium of $8300 for ny registered sprinter full coverage. Last year I had first minor incident in my life. At the traffic light bumped into another vehicle. Nobody was injured. Due to this I got a new renewal of $15300 that is almost doubled. I really frustrated and looking to shop for another insurance.
Is this commercial insurance business monopolized by progressive? Or are there any other insurance companies that do same kind of coverage?
I really do not want to drive all day and night just to make insurance and can payments
I took the accident prevention course and probably will get 10% reduction but are there any other ways to reduce this more
Some of you guys might been in similar situation as incident are part of life but it seems to me unfair that for the first accident payment to be doubled. Oh and I have no moving violation in my records at this time accept this incident.
Please respond if you know any other companies out there
Thanks
 

Worn Out Manager

Veteran Expediter
Owner/Operator
US Air Force
Offline
Yes, Progressive is the only game in town in many states. In NJ my van was $12,000 for required coverage.

Three Choices if you want to be properly insured

Find an address in Midwest that you can legally use.

Work for a carrier that provides insurance through them

Work to pay the truck and have nothing left for yourself

The problem in NY, NJ and many others is our "no fault" insurance coupled with almost automatic high end settlements.

Good luck

Sent from my moto z3 using EO Forums mobile app
 

Ragman

Veteran Expediter
Retired Expediter
Offline
Stay away from Michigan...... Our government leaders are proud to provide us with the highest insurance costs in the nation.
 

Grizzly

Veteran Expediter
Owner/Operator
Offline
Technically speaking Progressive is not the only one in the market. They don't have a monopoly. There are a couple of other options. Problem is ... the other options generally are even more expensive! You can ask the folks at CIS for guidance.

$8,300?? ... $12,000?? ..... do you guys actually make any money after these hefty insurance costs. Like ... wow!

I don't think my annual cost has ever been over $4K, I'd have to check. It was going down slightly each year until this year ... went up over 25%!!!! Spotless record for the last 8 yrs .... so get to the back of the bus, you're not the only one. I would never do this job if my insurance costs were over $5K, numbers don't lie.

You want a different address? I might be able to rent you a room at Chalet Grizzly.

The issue is your claim. It may seem unfair but the days of honest, simple mistakes are over. They'll use any excuse to jack up prices ... and sometimes no excuse at all!
 

sarniko

Active Expediter
Driver
Offline
Technically speaking Progressive is not the only one in the market. They don't have a monopoly. There are a couple of other options. Problem is ... the other options generally are even more expensive! You can ask the folks at CIS for guidance.

$8,300?? ... $12,000?? ..... do you guys actually make any money after these hefty insurance costs. Like ... wow!

I don't think my annual cost has ever been over $4K, I'd have to check. It was going down slightly each year until this year ... went up over 25%!!!! Spotless record for the last 8 yrs .... so get to the back of the bus, you're not the only one. I would never do this job if my insurance costs were over $5K, numbers don't lie.

You want a different address? I might be able to rent you a room at Chalet Grizzly.

The issue is your claim. It may seem unfair but the days of honest, simple mistakes are over. They'll use any excuse to jack up prices ... and sometimes no excuse at all!
I understand 20% increase but not 95% at once . Sure I will not pay them this much for the new policy and rather got out of business
do other things then running just to pay insurance cost.
I might consider your offer but where is chalet Grizzly?
Thanks
 

Fisherman

New Recruit
Driver
Offline
$8,300?? ... $12,000?? ..... do you guys actually make any money after these hefty insurance costs. Like ... wow!
I was thinking the same thing as I was reading those posts. I don't know how they could possibly make a living with those costs, unless they are with a company that is paying a very high rate per mile.
 

sarniko

Active Expediter
Driver
Offline
I was thinking the same thing as I was reading those posts. I don't know how they could possibly make a living with those costs, unless they are with a company that is paying a very high rate per mile.
I ll be honest here and tell you I am with Millhouse only and last year I net $110k but
Day and night 150k. Miles of driving
this year I hardly pay bills and experiences as the load are getting cheaper and cheaper. And I really do not want to put that much miles anyway.
That’s why I started this thread to get help from you to find ways to save on Insurance
 

brokcanadian

Veteran Expediter
Owner/Operator
Offline
Nobody will be saving on commercial insurance.

Thank a trucker. The amount of high profile accidents going on over the past year or two is insane.

I've been following on youtube and trucking websites. While entertaining to watch as a youtube video, the real human costs and accompanying settlements are piling up.
 
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Worn Out Manager

Veteran Expediter
Owner/Operator
US Air Force
Offline
Billboards everywhere. All similar to one I saw on I-10 in NM yesterday:

HIT BY A TRUCK, CALL CHUCK

When I was working through my insurance nightmare after moving back to Jersey, CIS said in No Fault states the other guys lawyer sees 1 million commercial and goes for all of it. Then a jury of your peers figures the insurance company is the "bad guy" and they award all they can to the poor injured party that cut in front of you and got hit.

Sent from my moto z3 using EO Forums mobile app
 

sarniko

Active Expediter
Driver
Offline
I understand that there are lots of claims fault lawsuits just to get most out of insurance companies. Because they do not differentiate fault or no fault, minor incident or fatal accident as soon as you are involved in any kind of accident first time or several times you and your vehicle is labeled with accident history and have to pay double premium with your blood and sweat earned money because of that. Looks to me that this system is crazy and crappy.
Why I have to pay the same money for the insurance as the Heavyweight 18 wheeler does?
I rather prefer to relocate than pay them $1550 a month (my two weeks income)
Please let me know which state to look for
Thanks
 

ShellyB007

Insurance Guru
Motor Carrier Executive
Offline
In General, states like NY, MI, FL where a residual bodily injury claim remain open months and sometimes years after the event will impact a premium to a large extent because reserves are set aside by the insurance company to address future additional lawsuits, etc. Best premiums for Expediters can be found in states like OH and other mid-western states with less litigation and mandatory state PIP requirements. Physical address, vehicle registration in that state and matching drivers licenses are required. We shop all insurance companies available for Expediters, Progressive just tends to provide the correct coverage with the best price. Hope that helps, guys. Shelly xoxo
 

LDB

Veteran Expediter
Retired Expediter
Offline
Wow. I've been out for 7 years now. I don't think I ever paid more than $200 a month for insurance. That was with a Texas home base. Good luck figuring this out.
 

Mailer

Veteran Expediter
Owner/Operator
Offline
Yep ! Not fair at all.

You guys in the east are paying average $2/gallon. I'm paying $4/gallon in California. My gasoline cost make the insurance rate look like a kindergarten. Lol....Bummer!

Really, agree with earlier suggestions, find the carriers with in house insurance.

Or...you can strip down your coverages to the bone to reduce the rate.....but, it's risky and can be costly if there's an accident.

Lastly, if you dont mind the attractiveness, switch and buy the oldest used Nissan Hi Roof. The insurance rates on used vehicles usually much cheaper vs the brand spanking new one.

Hey either way, good luck and hope things work out.
 

sarniko

Active Expediter
Driver
Offline
In General, states like NY, MI, FL where a residual bodily injury claim remain open months and sometimes years after the event will impact a premium to a large extent because reserves are set aside by the insurance company to address future additional lawsuits, etc. Best premiums for Expediters can be found in states like OH and other mid-western states with less litigation and mandatory state PIP requirements. Physical address, vehicle registration in that state and matching drivers licenses are required. We shop all insurance companies available for Expediters, Progressive just tends to provide the correct coverage with the best price. Hope that helps, guys. Shelly xoxo
thanks for this info
Still I think for expedites it really should not matter which state the vehicles is registered as I am home (New York) probably a few time a year and 95% elsewhere. High rate should apply only for those who do local deliveries in those states but I guess it is contrary. And it is wrong. Progressive has no big competition on the market like Geico that’s why progressive is only option most of us.
And rates for vans should be much lower anyway compared to trucks and any Heavy duty equipments. It is like taking the advantage and feeling being in unfair situations here
 

TSXpress2015

Active Expediter
Owner/Operator
Offline
Can anyone answer his question on which companies offer insurance through them? I too would like to know, as my premium went through the roof. Thanks in advance
 

Grizzly

Veteran Expediter
Owner/Operator
Offline
Can anyone answer his question on which companies offer insurance through them? I too would like to know, as my premium went through the roof. Thanks in advance

I believe your agent will give you the most competitive option.
To answer your question directly, I believe Berkshire Hathaway & maybe Lloyd's of London. I'm not sure what other companies, besides Progressive. I got a quote through Berkshire once ... made my head spin.
 
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