It is not active at this time. It is there if i ever need it. I used it for a few yrs after i got it, then let it go inactive because things changed.I have had my authority since 1999. I believe the ins and listing of agents need to be submitted within a short period of time.Damn, never thought about that
Kind of makes this post a possible drive by.
Sent from my XT1710-02 using EO Forums mobile app
Once you file, there's a period of time to submit proof of insurance before it gets approved.
But it's probably best to do your homework prior to that point ..
You have your own authority but you run for L1.
How exactly does that work?
Cargo Van Commercial Insurance
- Thread starter kimberlyperson22
- Start date
OK, understood. Can it stay inactive indefinitely?
I've got my van and my authoritah and I'm gonna rake in the cash.
I don't see why the liability and cargo insurance has to be so high for a cargo van. How many times is freight damaged in a cargo van fender bender? But that being said, I heard truck drivers saying that 1 million liability and 100k cargo is 1 million liability and 100k cargo no matter how big or small a commercial vehicle is. The only real loss an insurance company is gonna have is deer hits. I personally would not pay more than a couple hundred a month for cargo insurance if I was ever going to lease on with the multi-carriers again. It's simply not worth it. And I definitely would not do it with a large van payment. Why can't companies that are kind of big but multi-carrier just get all of their trucks covered by one large group insurance policy that the drivers pay, but it very low due to a gang of vans being placed onto the same policy. Then they can find a different way to share loads with one another.
The insurance pool in theory is good.
In reality, are those highly moral and ethical multi’s going to be able to work together?
A million liability is peanuts when you teebone that school bus, or hit my straight loaded with a $20 Million dollar shipment.
Thinking back, we probably hauled hundreds of $1 million plus loads.
I think in a wreck where a LS vehicle ran a stop sign and killed a guy in a pickup the settlement was $40 million. So you guys are big risk in a low cost marketplace.
You’re lucky insurance companies deal with you at all.
In reality, are those highly moral and ethical multi’s going to be able to work together?
A million liability is peanuts when you teebone that school bus, or hit my straight loaded with a $20 Million dollar shipment.
Thinking back, we probably hauled hundreds of $1 million plus loads.
I think in a wreck where a LS vehicle ran a stop sign and killed a guy in a pickup the settlement was $40 million. So you guys are big risk in a low cost marketplace.
You’re lucky insurance companies deal with you at all.
I'd have to agree with blizzard 2014 AND BigStickJr. Never had a claim in 9 years of shlepping turbine blades, and I don't know what would have caused a loss (other than a vehicle burning to the ground)
I've had up to $2 million dollars worth of them in an E350, fortunately my carrier covered cargo, $100,000 would have done nothing.
But hearing those settlements, my $1.6 million USD liability seems like not enough.
Insurance is highly regulated. The rates must correlate to some loss experience in the cargo van segment. I'd love rates to go down, but a $40 million settlement
Scary
I've had up to $2 million dollars worth of them in an E350, fortunately my carrier covered cargo, $100,000 would have done nothing.
But hearing those settlements, my $1.6 million USD liability seems like not enough.
Insurance is highly regulated. The rates must correlate to some loss experience in the cargo van segment. I'd love rates to go down, but a $40 million settlement
Scary