Newb question / advice about insurance.

[ADBrouse]

Hey Drivers,
Yeah a newbie question about Insuring one's cargo van.. I understand , of course , there are a ton of variables. Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance. Crunching numbers for a loan. I tried Geico commercial insurance but they sent back a "no market identified in your area" . Dispatcher pal of mine who also occasionally drives said that it would be along the lines of $350 a month. I can do that .. a two day run once a month.

 

[RoadTime]

Hey Drivers,
Yeah a newbie question about Insuring one's cargo van.. I understand , of course , there are a ton of variables. Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance. Crunching numbers for a loan. I tried Geico commercial insurance but they sent back a "no market identified in your area" . Dispatcher pal of mine who also occasionally drives said that it would be along the lines of $350 a month. I can do that .. a two day run once a month.

Rates can be all over the place depending on where you live. Living in Michigan, Progressive gave me a quote of 6K.

 

[Turtle]

Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance.

Progressive gave me a quote of 6K.

 

[ADBrouse]

Hey Drivers,
Yeah a newbie question about Insuring one's cargo van.. I understand , of course , there are a ton of variables. Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance. Crunching numbers for a loan. I tried Geico commercial insurance but they sent back a "no market identified in your area" . Dispatcher pal of mine who also occasionally drives said that it would be along the lines of $350 a month. I can do that .. a two day run once a month.

Rates can be all over the place depending on where you live. Living in Michigan, Progressive gave me a quote of 6K.

LOL progressive wouldn't talk to me cause I didin't have a credit card number they could investigate.

 

[RoadTime]

Hey Drivers,
Yeah a newbie question about Insuring one's cargo van.. I understand , of course , there are a ton of variables. Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance. Crunching numbers for a loan. I tried Geico commercial insurance but they sent back a "no market identified in your area" . Dispatcher pal of mine who also occasionally drives said that it would be along the lines of $350 a month. I can do that .. a two day run once a month.

Rates can be all over the place depending on where you live. Living in Michigan, Progressive gave me a quote of 6K.

LOL progressive wouldn't talk to me cause I didin't have a credit card number they could investigate.

That's odd

 

[ADBrouse]

Hey Drivers,
Yeah a newbie question about Insuring one's cargo van.. I understand , of course , there are a ton of variables. Could somone gimme a "typical" ballpark estimate on how much a month insurance with the usual One Mil liability and the 100K cargo insurance. Crunching numbers for a loan. I tried Geico commercial insurance but they sent back a "no market identified in your area" . Dispatcher pal of mine who also occasionally drives said that it would be along the lines of $350 a month. I can do that .. a two day run once a month.

Rates can be all over the place depending on where you live. Living in Michigan, Progressive gave me a quote of 6K.

LOL progressive wouldn't talk to me cause I didin't have a credit card number they could investigate.

That's odd

LOL progressive or Geico? and yea well is what it is. So that 6K you pay, of course that is annually? <shaddup, Turtle,, I feel a smart assed answer on its way from you > well lets see if so that's 500 a month.. Company I am intending to work for gives very generous 82/18 split. and from what I gather , typical cargo van rate is 85 cents a mile so ,anyhoo after fuel I can expect 50 cents a mile gross. I could do that easily in two days running.

 

[ADBrouse]

So checked progressive .. they finally gave me quote.. last check must have been a server burp.. anywho.. One Mil. liability , 50k/100k uninsured and underinsured coverage and 10K personal injury no workmans comp.. no cargo insurance .. looking at $8000 a year

 

[RoadTime]

So checked progressive .. they finally gave me quote.. last check must have been a server burp.. anywho.. One Mil. liability , 50k/100k uninsured and underinsured coverage and 10K personal injury no workmans comp.. no cargo insurance .. looking at $8000 a year

Ouch! That sucks.
The 6K was annually, but still too much for this poor expediter

 

[brokcanadian]

LOL progressive or Geico? and yea well is what it is. So that 6K you pay, of course that is annually? <shaddup, Turtle,, I feel a smart assed answer on its way from you > well lets see if so that's 500 a month.. Company I am intending to work for gives very generous 82/18 split. and from what I gather , typical cargo van rate is 85 cents a mile so ,anyhoo after fuel I can expect 50 cents a mile gross. I could do that easily in two days running.

Sounds like you are trying to figure out if it's worth it or not. Guesstimate what you think you'll make and subtract 55% for expenses, then take your taxes off as self employed...if nothing goes wrong, that tiny number left over is your potential income

 

[akkshole]

I was quoted $3500 for the year by CIS. 1 Million Liability, $100k cargo insurance (the legal required level of insurance).

Lot of variables like credit rating, where you live and driving record .

Sent from my SM-G950U using EO Forums mobile app

 

[Worn Out Manager]

As previously posted, Progressive in NJ is $10,000+

Thinking about moving to Bison, SD to save money!

Sent from my hand-held Etch-A- Sketch

 

[Treadmill]

As previously posted, Progressive in NJ is $10,000+

Thinking about moving to Bison, SD to save money!

Sent from my hand-held Etch-A- Sketch

Then you will have to deal with the wildlife.

 

[Worn Out Manager]

Then you will have to deal with the wildlife.

Yeah, I hear they have a good specimen of the very rare "Canadian Cheapasarus"

Sent from my hand-held Etch-A- Sketch

 

[LDB]

Check with CIS. They are excellent people to work with and experts on insurance for this niche. You won't find better folks to work with.

 

[ADBrouse]

So checked progressive .. they finally gave me quote.. last check must have been a server burp.. anywho.. One Mil. liability , 50k/100k uninsured and underinsured coverage and 10K personal injury no workmans comp.. no cargo insurance .. looking at $8000 a year

Ouch! That sucks.
The 6K was annually, but still too much for this poor expediter

YEah AND if I wanted to I could pay 2200 usd down then get a reduced payment for nine months... I think Flo can bite me .

 

[ADBrouse]

LOL progressive or Geico? and yea well is what it is. So that 6K you pay, of course that is annually? <shaddup, Turtle,, I feel a smart assed answer on its way from you > well lets see if so that's 500 a month.. Company I am intending to work for gives very generous 82/18 split. and from what I gather , typical cargo van rate is 85 cents a mile so ,anyhoo after fuel I can expect 50 cents a mile gross. I could do that easily in two days running.

Sounds like you are trying to figure out if it's worth it or not. Guesstimate what you think you'll make and subtract 55% for expenses, then take your taxes off as self employed...if nothing goes wrong, that tiny number left over is your potential income

YEah I been working on that Running a thousand miles would cover insurance .. Ireckon.. BUT .from what I was reading and tubing about taxes, Insurance is deductible, fuel is deductible Not interest is deductible.. all comes back end of year .. BEsides, All I will have in the way of expenses is just what it takes to keep van running and rolling.. I'd be ecstatic if I gross 35K a year... All I really REALLY need, bare bones, Is van, insurance, money for the first two tanks of gas and mah camping gear Oh and a bit for food money

 

[ADBrouse]

I was quoted $3500 for the year by CIS. 1 Million Liability, $100k cargo insurance (the legal required level of insurance).

Lot of variables like credit rating, where you live and driving record .

Sent from my SM-G950U using EO Forums mobile app

Oh my driving record is spotless one non fatality wreck in 30 years and not a single ticket. bout half dozen warnings but that's it.
Self employment taxes is 15% of adjusted gross income.
Ran some really conservative figures on percent of days actually running ( I week a month for down time but I know is probably more) AFTER fuel( guestimate 20% gross.) I came up with 70K .. Then I ,for grins and giggles, took standard mileage deduction, that dropped my gross income to 15K . 15% of 15K is NEARLY nothing As far as 2250 is near next to nothing compared to 15% of 70K .

 

[ADBrouse]

Check with CIS. They are excellent people to work with and experts on insurance for this niche. You won't find better folks to work with.

Got a link or full company name so I Can check them out?

 

[LDB]

They are one of the advertisers here. Go to the home page, of the site not the forum, and scroll to the bottom.

 

[ADBrouse]

They are one of the advertisers here. Go to the home page, of the site not the forum, and scroll to the bottom.

Gotcha thanks