Risky Business

Why is my buddy saving more than me?

Hi Everyone, here's a call I get at least once a week….

"Hey Shelly, How come I only saved $1,100 a year on my insurance when you saved my buddy Stan over $2,300?”     

Wow what a loaded question, how do I answer this without getting between friends and stay out of hot water on the legal front.   That darn privacy law stuff…

Here we go, “Well, Joe it’s not that I like you less, it’s probably a few different things.   First of all, Stan’s Straight Truck has a value of $110,000 and though yours is just as big and pretty, it’s ACV is $78,000.   ( I did include the value and coverage for all those cool things you added recently.)

So since his truck was more expensive than yours, his overall premium is higher. 

Generally speaking, the more your truck is worth the more you should be able to save when you're shopping for Expediting Insurance.  Let’s face it, how can you save $2300 if you're paying $2500 for the whole policy?  

Another factor may have been your driving record, you have a couple violations for speeding on your MVR (Motor Vehicle Report).   Some good news though, we only go back 35 months and they'll both be off in a few months, so keep it clear….and I like you just as much as Stan.”

Insurance can get a little boring but nothing brightens my day more than saving an Owner Operator a bunch of money.   One of the perks of the job!

Shelly Benisch, CIC