Risky Business

Stay Put!

Hi Everyone, and Happy Halloween!

I wanted to take some time today to help you avoid the scary situation of stopping and starting your insurance only to see the new premium skyrocketed...

When you start a new insurance policy, ANY insurance policy, the insurance company gives you discounts for 2 things:

1.  Proof of Prior Insurance

2.  Experience

So in Expediting, when someone jumps from one Motor Carrier to another, the premium is based on Proof of Prior Auto Insurance and Experience as an Expediter. 

This is a tumultuous time, and we're experiencing guys who are cancelling their policies in the hopes to restart it again when they pick up some runs.

Two things happen, One, you're removed from the Load Board because we're required to contact your Motor Carrier you have your lease with to let them know there is no insurance, or inadequate insurance (you've lowered your limits below what they require.)

Two, when you try to restart the insurance, the premium has skyrocketed because you've lost your Proof of Prior Insurance (1 year of coverage with no lapse in coverage).  There is no way you will be able to obtain the same lower premium you had before you cancelled. 

We see this ALL THE TIME, and warn our guys when they call us to cancel.  We explain the ramifications, but sometimes they'll call Progressive Direct to cancel at night, and the Customer Service Rep doesn't mention this, of course.  Let's face it, large corporations are not going to advise you the way your personal agent who is your advocate will advise you.

So regardless of whether you're in between Motor Carriers or you're just not getting the number of loads you'd like, keep your insurance in place and Stay Put until you've made your decision because you won't like the restart cost.

Have a Happy and Safe Halloween!

Shelly Benisch, CIC w/ CIS  [email protected]  www.MyCISagent.com 

                                               330.864.1511