Called my insurance place today. Asked them to get me a price. He asked about distance and said anything over 100KM is considered long haul and price doubles. That normal??
It gets nuts in pricing. You need a good agent that know what words to use and not to use. So companies have a problem with "5th wheel" others with the "Hot shot" term. If you want to haul boats some places require you to have "inland marine" insurance. Figure what you want to haul where you want to haul it and how and get a good agent that has delt with truckers before.
Looked into myself to haul rv's, cars, boats, and freight. 1,000,000 liability, 150,000 cargo, 45,000 phys damage on my truck and trailer. Quotes anywhere from 8500-11,000 a year....ouch.
thats cheap!!! I had payed 16.5K per year for that coverage on a 2001 freightliner century 2.5 years ago. where did you find that?
Just got a quote last week from Commercial Insuarnce in Ingleside TX. 1,000,000 general liability, 500,000 public liability, $75,000 cargo - $6100 +-. $2100 down and $505 per month
Ive gotten quotes as high as $9,000.00. sometimes just getting to the insurance agent to call you back is half the battle. Im not for sure who the underwriters are, I will have it set up to make one payment instead of three. This is for a 250 mile radius (which is 80% of my hauling) but I can go into the surrounding states of NM, OK, AR, and LA. I have haz-mat but for what little I haul now, getting it on my own is WAY to much and WAY to much BS....
Paying $571 a month now for $1 mil liabilty/ $100k cargo, with a $1,000 deductible. See why I say no to cheap freight, can stay at home and go broke just as easy! :stir:
sorry to jump on this wagon so late but, some of the quotes I read here are dirt cheap!! I just received a discount @ my ins co. I now pay just shy of $16 for 2 trucks. it is about the same for the western star as it is for the GMC. $5k down $1,200 per month.
My son has a small hot shot business with about 6 member trucks. I know he pays $6000. Plus there are a lot of other costs like insurance for the loads you are carrying. You need a DOT registration and other stuff to be legal. If you are not legal in the state you are hauling and get stopped your trailer will be impounded. Pete
many states require no less than 1 million in commercial liability and 100K in cargo insurance is the minimum amount you should carry. If you are running your company smart ly, you can and will make money, but don't think it is just getting insurance and having a truck, the compliance issues, registrations for thr truck and all the other thousands of pages of legal requirements can be daunting. Fuel is blamed by many as running them out of business, but I can honestly tell you that fuel s your least worry. For every 1.00 in fuel increase, I only have to raise rates 10-15 cpm. Being a good and smart business man will make you successful and while it is easy to fall into the traps of many companies that are going out of business, the strong and persistent will survive.waytogo
I have 750k liability for $552/ month, but they limit me to 300 miles with my goosenecks. The $552 is for 1 bumper pull, 1 gooseneck, a cargo van, and my ram 2500 diesel. I also have 3 drivers on my policy.
Not to tell you your busisness... I'm sure someone here will... you don't have enough to be operating legally from what i can see. Any cargo insurance? What happens if something gets damaged?