Question
We are a small company that has 3-4 car haulers and Duallys to pull them with. We have 3 trucks now but may be putting more on. Where does a person get the best insurance for this type of company? We are considered a hotshot company and a lot of insurance companies that we have talked to do not do that kind of insurance or they rate us so high of a risk that we can not afford to get it. We have our own authority and have drivers we lease on to us. The company we have been working with knows nothing about "trucking" insurance and has placed us with a company that we just found out can not write us for unlimited milage. We need some help as our current policy will expire the middle of Feb. If anyone has a imput on a good company that will not rip us off, it would be great to here from you!!! PLEASE HELP!
Answer
Start with talking to other owner-operators, then get on the internet and do a search on truck insurance.
Ask questions.
Seek out an agent experienced with trucking.
Answer
OOIDA!!!!
Answer
Try Loydes of London. I drove for a small company hauling cars and he had them.
My Thermos still has more miles than most driversExtruckdweller
Answer
Lloyds of London can be an excellent market in certain circumstances. What many people may not realize is that Lloyds is a "foreign insurance market". With the exception of only one or two of the states, they are considered a "non-admitted market". What does this mean to you? It means that IF you have an issue that would require the assistance of a state insurance commissioner, you may find the insurance commissioner unable to intervene. If the insurance company is an "admitted market", then the insurance commission has the jurisdiction to intervene on your behalf and to assure that the insurance company performs in good faith.
Another issue to consider is the time factor between the US and London. While many of the insurance agents in the US have authority to settle claims, there is usually a cap on their authority. Be sure to find out what that is, as an 8 hour time difference could seriously slow the claims process in a catastrophic situation.