Your Insurance Costs, What Do You See?

[ATeam]

Mention has been made by expediters in a couple of threads that their insurance costs are rising, and by a lot in come cases. I thought it might be informative if expediters share what is going on with their truck and work accident insurance in a thread on that topic.

What are you seeing with your insurance costs and coverage? If you are seeing increases, how much is the increase compared to a year ago (percentage, dollar amount or both)? Please specify your truck type in your response.

 

[ATeam]

Diane and I are in a 40' straight-truck. Checking our insurance costs, we see no change in the last year in unladen liability and work accident insurance. Physical damage insurance went up 4.3 percent.

 

[zorry]

Physical damage increase should be offset in most cases by devaluation of the asset.

 

[RMPM01]

2010 Ford E250

No claims so far ( knock on wood )

Last year $280, this year $373

I will renew in March of 2014... cant wait

 

[Deville]

I saw an increase in my auto insurance by about 3% the past year & about 10% in a work accident policy I carry.

I have never had a claim with either policy, it's an across the board increase. Geico told me it was Sandy & economy driven. Oddly enough my home insurance renewed without an increase.

 

[davekc]

Wait until you add the cost of Obamacare in there.

 

[ATeam]

Wait until you add the cost of Obamacare in there.

Obamacare is affecting health insurance rates, but I have not heard anything about it affecting truck insurance rates. While some will be tempted to get political in this thread about Obamacare, let's try to keep the focus on truck insurance. Health insurance for expediters merits a topic of its own.

 

[davekc]

Personally, I take all the insurance regardless of what it is for and dump it in one big pot.
In otherwords, what is my costs and exposure for pretty much everything.

 

[zorry]

Many years ago insurance to haul gasoline went up 700-800%.

It affected all carriers, so the late renewals had some extra built in profit, rates stayed the same for most shippers.