question about cargo insurance

Charity's Van

Expert Expediter
Owner/Operator
Hey I've been running for the same company for a few years now. I've talked with another company about working for them instead. They are asking that I buy a 100k cargo liability insurance policy with them as beneficiary. Current company I'm driving for now covers this for me. Is this an expense that I should cover to work at the new place or should they be paying that. I put in a call to my insurance agent to get a quote. What is normal cost?

Thanks
 

Grizzly

Veteran Expediter
Owner/Operator
Hey I've been running for the same company for a few years now. I've talked with another company about working for them instead. They are asking that I buy a 100k cargo liability insurance policy with them as beneficiary. Current company I'm driving for now covers this for me. Is this an expense that I should cover to work at the new place or should they be paying that. I put in a call to my insurance agent to get a quote. What is normal cost?

Thanks

The cost depends on many individual factors. Translation .... there is no normal.
Also, quotes from a household auto insurance agent aren't going to be a good comparison. There's industry specific stuff they might not be aware of.
Do a search on the forum for CIS, Commercial Insurance Solutions. I've been with them for 5+ yrs ... they're awesome! imo ...

CIS - Commercial Insurance Solutions
 
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geo

Veteran Expediter
Charter Member
Retired Expediter
US Navy
I would check with OOIDA as they have good prices, if you can buy it thru company that is good.
Fedecc and Ceva, had a good program, and they would take it out each week that is how I did it
 

Grizzly

Veteran Expediter
Owner/Operator
1500 per year for 100k cargo, something around that number.
What type of vehicle? Year, make & model?
Unlimited radius?
Driving history?
What state do you live in?

As mentioned lots of factors ... difficult to toss #s around ..

What's the $1500 based on ..?

Sent from my VS987 using EO Forums mobile app
 

geo

Veteran Expediter
Charter Member
Retired Expediter
US Navy
how true, with Ceva, I went thru them and it was $5,000 a year for a sprinter van. covered for just about everything you could think of . biggest thing is number of miles you drive in a year 60,000 to 70,000. where do you go to mall, military bases , const sites, shipyard's, neighbor, there are a lot things that can or might jump out in front of you
 

Grizzly

Veteran Expediter
Owner/Operator
how true, with Ceva, I went thru them and it was $5,000 a year for a sprinter van. covered for just about everything you could think of . biggest thing is number of miles you drive in a year 60,000 to 70,000. where do you go to mall, military bases , const sites, shipyard's, neighbor, there are a lot things that can or might jump out in front of you

Geo, how far of a radius from your residence would you travel for work? It's my understanding there's a threshold of 500 mi that's considered "local". Beyond that .... unlimited radius.
 

geo

Veteran Expediter
Charter Member
Retired Expediter
US Navy
120 miles round trip to Richmond , VA and back the whole state of VA and NC,MD
 

crich

Expert Expediter
Fleet Manager
US Navy
1500 per year for 100k cargo, something around that number.
What type of vehicle? Year, make & model?
Unlimited radius?
Driving history?
What state do you live in?

As mentioned lots of factors ... difficult to toss #s around ..

What's the $1500 based on ..?

Sent from my VS987 using EO Forums mobile app

well I have had many policies over the years don't ever remember paying over that. I have a perfect driving record I have had fl based polices and IL based policies my credit is not that great and my wife has to be included on the policy cause she owns the company and she has 1 speeding ticket. I am running flatbed now. but give your take a couple hundred I find 1500 a fair target to expect to pay for the year. my whole policy 1 million auto liability,100k cargo, 2 million general liability runs a little under 10k per year. I remember back 4 or 5 years ago it was only about 3500 when I just had one cargo van. but that was without general liability. general liability runs about $800 per year for me.
 
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Grizzly

Veteran Expediter
Owner/Operator
1500 per year for 100k cargo, something around that number.
What type of vehicle? Year, make & model?
Unlimited radius?
Driving history?
What state do you live in?

As mentioned lots of factors ... difficult to toss #s around ..

What's the $1500 based on ..?

Sent from my VS987 using EO Forums mobile app

well I have had many policies over the years don't ever remember paying over that. I have a perfect driving record I have had fl based polices and IL based policies my credit is not that great and my wife has to be included on the policy cause she owns the company and she has 1 speeding ticket. I am running flatbed now. but give your take a couple hundred I find 1500 a fair target to expect to pay for the year. my whole policy 1 million auto liability,100k cargo, 2 million general liability runs a little under 10k per year. I remember back 4 or 5 years ago it was only about 3500 when I just had one cargo van. but that was without general liability. general liability runs about $800 per year for me.

Just to clarify the $1,500 is on a pickup truck .. correct? Radius? Local or unlimited?
Yeah, the original question was from a member with a Promaster. Apples vs oranges ...

I pay ~$4K annually on a 2008 Sprinter, unlimited radius, 100K cargo, 1M liability.
 

crich

Expert Expediter
Fleet Manager
US Navy
1500 per year for 100k cargo, something around that number.
What type of vehicle? Year, make & model?
Unlimited radius?
Driving history?
What state do you live in?

As mentioned lots of factors ... difficult to toss #s around ..

What's the $1500 based on ..?

Sent from my VS987 using EO Forums mobile app

well I have had many policies over the years don't ever remember paying over that. I have a perfect driving record I have had fl based polices and IL based policies my credit is not that great and my wife has to be included on the policy cause she owns the company and she has 1 speeding ticket. I am running flatbed now. but give your take a couple hundred I find 1500 a fair target to expect to pay for the year. my whole policy 1 million auto liability,100k cargo, 2 million general liability runs a little under 10k per year. I remember back 4 or 5 years ago it was only about 3500 when I just had one cargo van. but that was without general liability. general liability runs about $800 per year for me.

Just to clarify the $1,500 is on a pickup truck .. correct? Radius? Local or unlimited?
Yeah, the original question was from a member with a Promaster. Apples vs oranges ...

I pay ~$4K annually on a 2008 Sprinter, unlimited radius, 100K cargo, 1M liability.


that 1500 is on a 5 ton truck pulling a 36 ft ft trailer.
 

Grizzly

Veteran Expediter
Owner/Operator
What type of vehicle? Year, make & model?
Unlimited radius?
Driving history?
What state do you live in?

As mentioned lots of factors ... difficult to toss #s around ..

What's the $1500 based on ..?

Sent from my VS987 using EO Forums mobile app

well I have had many policies over the years don't ever remember paying over that. I have a perfect driving record I have had fl based polices and IL based policies my credit is not that great and my wife has to be included on the policy cause she owns the company and she has 1 speeding ticket. I am running flatbed now. but give your take a couple hundred I find 1500 a fair target to expect to pay for the year. my whole policy 1 million auto liability,100k cargo, 2 million general liability runs a little under 10k per year. I remember back 4 or 5 years ago it was only about 3500 when I just had one cargo van. but that was without general liability. general liability runs about $800 per year for me.

Just to clarify the $1,500 is on a pickup truck .. correct? Radius? Local or unlimited?
Yeah, the original question was from a member with a Promaster. Apples vs oranges ...

I pay ~$4K annually on a 2008 Sprinter, unlimited radius, 100K cargo, 1M liability.


that 1500 is on a 5 ton truck pulling a 36 ft ft trailer.


5 ton truck? Ahhh, can ya be more specific?
Radius that it covers? All US & Canada or other ...?
 

crich

Expert Expediter
Fleet Manager
US Navy
well I have had many policies over the years don't ever remember paying over that. I have a perfect driving record I have had fl based polices and IL based policies my credit is not that great and my wife has to be included on the policy cause she owns the company and she has 1 speeding ticket. I am running flatbed now. but give your take a couple hundred I find 1500 a fair target to expect to pay for the year. my whole policy 1 million auto liability,100k cargo, 2 million general liability runs a little under 10k per year. I remember back 4 or 5 years ago it was only about 3500 when I just had one cargo van. but that was without general liability. general liability runs about $800 per year for me.

Just to clarify the $1,500 is on a pickup truck .. correct? Radius? Local or unlimited?
Yeah, the original question was from a member with a Promaster. Apples vs oranges ...

I pay ~$4K annually on a 2008 Sprinter, unlimited radius, 100K cargo, 1M liability.


that 1500 is on a 5 ton truck pulling a 36 ft ft trailer.


5 ton truck? Ahhh, can ya be more specific?
Radius that it covers? All US & Canada or other ...?

I am sorry I should of said a 550 empty weight is a little over 5 tons. gcwr of my set up is 45,500 I plate it for 44,000 but 9 out of 10 loads I do are less than #5000.

my radius is unlimited.
 
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Charity's Van

Expert Expediter
Owner/Operator
Thanks for all the helpful replies. When I posted the questions i was asking if it was normal to buy the 1 mil and and 100k cargo listing the company that im driving for as a certificate holder or are most you y'all having this paid by the comapny as my last company did. after reading this and talking to many others at the truck stops, the van owner paying his own seems to be the norm.
Thanks Grizzly i finally got in touch with cis. they got me a policy for 1 mil & 100k unlimited miles for about $4100.
 

crich

Expert Expediter
Fleet Manager
US Navy
if you have to pay your own insurance I hope your free to work for yourself also.
 
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geo

Veteran Expediter
Charter Member
Retired Expediter
US Navy
to be a true o/o you may work for others if it doesn't say you can't, when I was leaving fedexcc, I was working for a friend, who ever call first that is who I work for. sometimes haul out for one company than haul back for the other one
 
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