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Insurance rates on the rise and why????

C

coalminer

Veteran Expediter
Retired Expediter
How many of these "nuclear" verdicts ever get paid? When the defendants appeal the verdict, and they will it gets dragged out for years and years. Greedy lawyers who brag about the size of the judgements are causing this to happen while the injured parties who need the money to support themselves go without.


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jelliott

jelliott

Veteran Expediter
Motor Carrier Executive
US Army
coalminer said:
How many of these "nuclear" verdicts ever get paid? When the defendants appeal the verdict, and they will it gets dragged out for years and years. Greedy lawyers who brag about the size of the judgements are causing this to happen while the injured parties who need the money to support themselves go without.


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Thus driving the cost of the insurance up and up to pay for the legal defense AND the final judgement.
 
x06col

x06col

Veteran Expediter
Charter Member
Retired Expediter
US Army
jelliott said:
coalminer said:
How many of these "nuclear" verdicts ever get paid? When the defendants appeal the verdict, and they will it gets dragged out for years and years. Greedy lawyers who brag about the size of the judgements are causing this to happen while the injured parties who need the money to support themselves go without.


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Thus driving the cost of the insurance up and up to pay for the legal defense AND the final judgement.
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Companys cannot continue to put Rookies in 80 MPH trucks, they need to be cut back.
 
OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
Slo-Ride said:
jjoerger said:
Which means we should start seeing higher rates of pay to the truck so we can pay these higher insurance rates?


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Did you mean to ask,
Will we will start to see higher rates to the carriers so we/trucks can absorb the higher rate of Insurance?
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Do you see higher rates because if where insurance rates are now?
Or because mech shop rates have almost doubled in the last 10 yrs?
 
jelliott

jelliott

Veteran Expediter
Motor Carrier Executive
US Army
Well most of the time the liability insurance is paid for by the carrier if they are insured in the traditional structure. But in the case of a multi or when a carrier has the owner operator pay for the auto liability policy then the owner operator would be the one shouldering those increases.


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OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
jelliott said:
Well most of the time the liability insurance is paid for by the carrier if they are insured in the traditional structure. But in the case of a multi or when a carrier has the owner operator pay for the auto liability policy then the owner operator would be the one shouldering those increases.


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My yearly renewal is coming up next month December I'll let you know much of mine increases.

Turn signals the original instant message!
 
OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
billg27 said:
My insurance renewed about 3 months ago. I got a letter congratulating me because of my clean driving record and claim free year, my rates actually went down about $30 a month.


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I am within six weeks of renewal so I should have my notice any day I'm hoping to stay the same less would be better ...
Hopefully it's just the fleet guys and carriers taking the hit !
 
Worn Out Manager

Worn Out Manager

Veteran Expediter
Owner/Operator
US Air Force
I can't wait. With a purrfect driving record we pay $9300.00 annually here in Jersey, which, since the truck spends 38 weeks a year in other states why do I pay the same as someone that operates a truck here in Jersey 52 weeks??
 
Worn Out Manager

Worn Out Manager

Veteran Expediter
Owner/Operator
US Air Force
OntarioVanMan said:
jjoerger said:
Which means we should start seeing higher rates of pay to the truck so we can pay these higher insurance rates?


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yeah right......LOL....carriers don't give a crap. or rates would have been higher long ago...
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I seldom disagree with you, Mr Nanook of the North, but I think the rates have to do with broker greed and larger carriers that have a big infrastructure to support like my ex carrier. Not to mention over supply of vans and drivers. Smaller carriers like ours, I believe, are trying to get us everything they can, minus their share, of course!
 
OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
Worn Out Manager said:
OntarioVanMan said:
jjoerger said:
Which means we should start seeing higher rates of pay to the truck so we can pay these higher insurance rates?


Sent from my XT1254 using EO Forums mobile app
Click to expand...
yeah right......LOL....carriers don't give a crap. or rates would have been higher long ago...
Click to expand...
I seldom disagree with you, Mr Nanook of the North, but I think the rates have to do with broker greed and larger carriers that have a big infrastructure to support like my ex carrier. Not to mention over supply of vans and drivers. Smaller carriers like ours, I believe, are trying to get us everything they can, minus their share, of course!
Click to expand...
I should have said larger carriers
 
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