Progressive Insurance goes up again !!!!
- Thread starter RMPM01
- Start date
because they were too low below.....now they are reflecting the real market value....they might go higher yet...
Raising rates will not work hereDo people still drive for 85 cpm?
What I dont understand is, why did it go up so high? I will call CIS tomorrow
Someone has to cover those yellow cube vans running around.
Some of them are running around for less than .85 CPM
In Ont. Canada....about 10 years ago..I was paying about 7500 a year for a CV....liability is the big killer, with the courts handing out these huge settlements...I moved here and could not believe how low your rates were down here....it was a gold mine for small business...
what value do you have set on your vehicle. in a st. trk. we took about a 40$ per mo. increase. we are averaging about 150$ per mo. per trk. for 3 trks. with 30k to 33k values.
That sounds great.....some people have a tendency to OVER insure the vehicle, and there are some agents will let you because they get their commissions...which is really a waste because you won't get that money back...
runrunner
Veteran Expediter
.85 or .90 is the same thing. Would you turn down a 500 mile run over a nickle?
that depends, you cant just blow that .05 off on every load thinking no big deal. if you haul a 100 loads a year that 25$ you lose is 2500$. i can do alot with 2500$. also, that next load you get, probably even the same day will most likely pay your rate. we only use rates below our minimum to get a necessity accomplished. not because of the miles. in other words, we dont accept a below minimum just because it has miles on it. no profit, no move. there are many factors in acceptance as we all know.
we have been looking at that also. any money saved just adds to the bottom line and can be used elsewhere to reduce some other cost.
Great comments here.
The insurance market is definitely "harder" this year. It's been pretty soft for the past few years, and this is pretty much cyclical.
I just completed the insurance renewal at our company. The increases were very tough to stomach - so much so that the agent came back and told me he did not appreciate the "tone" of my emails to him. I had put statistical information in response to his proposal to substantiate my thoughts that due to our very low loss history, an increase was not in order.
We still had to accept a 62% increase in one area of coverage where we have had zero loss history since the inception of our company 12 years ago!
Experience tells me, when looking at the overall coverage that the quote was reasonable from the insurance company's perspective. I also know that the market will soften at some point and the rates will decrease. Experience also tells me that the relationship I have with my insurance agent warrants an understanding because I know that my agent has the best interests of my company in mind. I know that that agent is looking to get the best rates possible to retain my business. Know that CIS does the same.
Thanks,
The insurance market is definitely "harder" this year. It's been pretty soft for the past few years, and this is pretty much cyclical.
I just completed the insurance renewal at our company. The increases were very tough to stomach - so much so that the agent came back and told me he did not appreciate the "tone" of my emails to him. I had put statistical information in response to his proposal to substantiate my thoughts that due to our very low loss history, an increase was not in order.
We still had to accept a 62% increase in one area of coverage where we have had zero loss history since the inception of our company 12 years ago!
Experience tells me, when looking at the overall coverage that the quote was reasonable from the insurance company's perspective. I also know that the market will soften at some point and the rates will decrease. Experience also tells me that the relationship I have with my insurance agent warrants an understanding because I know that my agent has the best interests of my company in mind. I know that that agent is looking to get the best rates possible to retain my business. Know that CIS does the same.
Thanks,
RMPM01
Seasoned Expediter
We lowered the value of our CV, saved $22 per mo.
We will use the "pay in full discount" savings of $789
Cant wait till next year renewal
Insurers look at the numbers for an individual segment when rating an industry. Like any business they evaluate dollars taken in vs. dollars spent out. I think the rates are simply adjusting to the realities of the market and the realities of the true exposure. I have said for a few years on here it would happen over time.
RoadHouse
Active Expediter
I don't run my sprinter on percentage of the load. I get 90 cents per mile no mater what. I won't run my truck for less than 90 cents per mile.
zorry
Veteran Expediter
All miles, loaded and empty ?