Hello…. posting because i’ve been researching and researching, and haven’t been able to find any threads, especially recently, about owner/operator average commercial insurance cost. i got quoted by progressive for $42,000 a year, and am extremely confused considering anything online says people pay a couple hundred a month average for commercial insurance. Any help on who to go through for insurance or why insurance could possibly cost this much for a Sprinter van? I am out of Ohio. don’t have any dui’s or wreckless op charges. any help is appreciated. thanks
Insurance rates
- Thread starter melo27
- Start date
danthewolf00
Veteran Expediter
Progressive insurance is the main company that does our kind of insurance.....and the government has once again made it cost more to work.
As I recall I was paying around $100 a month or a bit over before I retired. That quote is over $100 a day. That's impossible.
LDB, I don't remember who you were driving for, but most likely you were not paying for Primary Liability or cargo insurance. Your company was paying for those two, and primary liability is the expensive one.
Someone not leased to a company will have to pay for all of it themselves, that is why it is this expensive. On top of that they don't get the discount that big companies with hundreds or thousands of vehicles get.
Sad to say, but that rate is about normal, depending on where he resides. Couple that with the post last wheek where people were underbid for loads at 70 cents a mile, and the price of a new van which is $50k+, I don't know how they make it. You would really make more money being a greeter at Walmart and sleeping in your own bed.
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Someone not leased to a company will have to pay for all of it themselves, that is why it is this expensive. On top of that they don't get the discount that big companies with hundreds or thousands of vehicles get.
Sad to say, but that rate is about normal, depending on where he resides. Couple that with the post last wheek where people were underbid for loads at 70 cents a mile, and the price of a new van which is $50k+, I don't know how they make it. You would really make more money being a greeter at Walmart and sleeping in your own bed.
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Yes, I was always leased, Panther, LandStar and FedEx over my decade driving. I didn't think about that part. And no, anyone paying those insurance rates can't be making enough to be worthwhile. Walmart must be a better option. Or Taco Bell where you get paid plus a $10 meal credit every shift.
I am such an owner now started to make a detailed answer, but why
Work for a carrier a few years to get minimum required experience then try again.
Work for a carrier a few years to get minimum required experience then try again.
Hey, I went through the same thing, progressive quoted me $73000 to insure me in Florida. I would do some research there’s considerably lower other options on the market. Good luck
danthewolf00
Veteran Expediter
Make sure that any insurance you get IS trucking insurance or you could wind up getting sued.