Progressive Insurance goes up again !!!!
- Thread starter RMPM01
- Start date
Just a heads up. Many carriers pay more than your $4,000 quote for every van in their fleet for just primary liability coverage. Add in costs of cargo, excess liability, and contingent policies and the price goes up from there. If your policy includes Physical damage, then $4,000 is actually not a bad deal.
Running for multiple carriers or for a carrier that asks that you provide the primary liability comes with a price. You basically become a carrier without having your own authority. Running for multiple carriers is from my understanding only legitimate for vehicles under 10,000 pounds GVW and that their insurance policy must contain correct wording to protect all.
Perhaps running for one carrier under the carrier's primary liability is a better over all deal and may benefit your bottom line, besides eliminating some headaches.
I hope this helps you.
Running for multiple carriers or for a carrier that asks that you provide the primary liability comes with a price. You basically become a carrier without having your own authority. Running for multiple carriers is from my understanding only legitimate for vehicles under 10,000 pounds GVW and that their insurance policy must contain correct wording to protect all.
Perhaps running for one carrier under the carrier's primary liability is a better over all deal and may benefit your bottom line, besides eliminating some headaches.
I hope this helps you.
zorry
Veteran Expediter
So that's what they do with all their money.
I thought the smaller guys spent it on wine, women, and song.
when I was an O/O of my own cab many years ago...for coverage with dummy insurance..(any driver behind the wheel)..It was nudging close to $9,000 a year.....around 1985 rates....
You're lucky. They raised mine from 220 to 600. No tickets, no accidents.
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Farmers are an option. But the difference was too little to bother switching to them.
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Progressive doesn't care about the value of the vehicle. I had a 2004 E 350 and the 2012 NV, I was paying the same amount for both vehicles. I just think they're trying to push o/o to leave the small carriers for large ones that offer their own insurance. My POV.
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I think their just trying to cover their behinds and stop losing money on the van market. If they wanted to push people out they would simply stop offering insurance to that market. If I remember correct for some reason. They are unable to offer fleet insurance so pushing people to that would not gain anything.
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Maverick
Seasoned Expediter
Special rate through a carrier. Got my suspicions on the whole picture though. Took it for now to begin running, but the policy is too bare bones for me, and offers no roadside. Sometimes those "special rates" to be paid out monthly, do not calculate into "good coverage".
Bare minimum to me often means.....if it's too good to be true, it probably deserves a closer look.
I plan do do just that, while looking to go independent.
zorry
Veteran Expediter
$1000 per year is $20 per week. Although you hate to see increased costs/ decreased profits, if $20 per week is a major deal,I'd think it's time to review your operation.
Mine went up about 17% or roughly $9 per week.
I saved $445 by doing the pay in full. So it was a wash.
No cargo insurance, but otherwise full coverage. High price DR unit.
Will lower value at next renewal.
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When you look at small increments like that, it does seem, and is small. The rub comes in writing that check for another $500 every 6 months. And, I'm semi retired with a pension coming in. So I only drive about 2 1/2 weeks a month on average. I do this for something I enjoy to do and see the country on someone else's dime. It's still pleasurable. When it becomes a job...I'll quit.
LOL!! IF I quit because it was a job I never would have started! It is bad how expenses keep going up and rates don't.
zorry
Veteran Expediter
The rates go down only because people keep showing up to do it cheaper.
One of the causes to be sure.
Maverick
Seasoned Expediter
The rates go down only because people keep showing up to do it cheaper.
Think Elliot covered that one. Soon, that door will close as we're nearing the end of those coming on board to offer cheap rates IMHO
Don't posses the knowledge you folks do, cause I'm still learning and just purchased my own van.
Got a good rate from Progressive out of Ohio. Under no illusion whatsoever.....this good rate will go up, as we go along. Just getting me in the door, so to speak.
No doubt, soon as we start making good money? They'll kick her right on up.
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what were the values you insured the vehicles for ???
The rates go down only because people keep showing up to do it cheaper.
You won't believe how many drivers are taking cheap freight just to keep moving...
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