Deductables

[Broompilot]

Know one really needs to answer this just think about what I am saying here.

How many of us are within, lets say arms reach of being put out of business if lets just say you had a million dollars worth of freight and the truck stolen?

A comment was made on the other thread about ALL of those deductables. Some can say they have reserves to cover this and that is great and good business, but some can cannot even put fuel in the rig without a Com Check.

Some its there own fault, others it has been a streak of bad luck or timming.

 

[davekc]

Something to consider. It really pays to know exactly what your insurance is.

Another member tried to convince me that having a liftgate and reefer doing white glove is the same as other expedite with regards to insurance.
Additional liability and standard commercial truck insurance is higher on these vehicles.
Clearly not the case. However, it was from someone who didn't own a truck, lacked commercial insurance knowledge, and didn't fully understand the exposure.
The guy that had his TT stolen is likely finding out the hard way.

And Broompilot is correct, a major accident or theft has wiped out many. Again, be prepared and understand your exposure, regardless of the company.


Davekc
owner
21 years

 

[LDB]

I enjoy listening to Dave Ramsey on XM. He advises everyone to have an emergency fund equal to between 3 and 6 months of expenses. He also goes on the theory that with the exception of a house if you can't pay cash in full you can't afford it. That won't work for virtually all of us on expedite trucks either since they cost as much as a house however having 3 or more months worth of expenses set aside is a good goal to work toward. That would not only include truck expenses but also house payment, car payment, utilities, groceries, etc. etc. Worst case scenario would be something like an at fault that requires paying all those deductibles combined with a broken leg that adds medical expenses and puts you off the road for 8 weeks so there's nothing coming in. We need to pay ourselves first and put 5-10% of that pay into savings to build that emergency fund. Murphy has a way of showing up when least expected and least prepared for him. My .02, YMMV.

Leo Bricker
OOIDA 677319
truck 4958
73's K5LDB
Support the entire Constitution, not just the parts you like.