Question
Connie,
How hard is it to get insurance on a new driver that is also seeking owner/operator status. I plan on purchasing an older truck and obtaining authority. So, I guess I need public liability, cargo insurance, bobtail and physical damage (on truck/trailer).
What kind of cost do you think I'm looking at (roughly)?
Answer
Lee,
If you've been keeping up with the transportation magazines, you already know the truck insurance market is "hardening", making it more difficult to procure the coverages needed or rather more expensive. This has been a steady progression for the past 8 - 12 months.
If you'll give me a call at your convenience, I will attempt to assist you with your particular needs. You can reach me at 800-933-7911.
Answer
Dear Connie,
Thank you once again for posting this very valuable information regarding your industry. We at Investigative Techniques, Inc. are advocates for the trucking industry and our membership plan is going to help alleviate some of the skyrocketing costs of insurance. No longer will insurance companies be burdened with the costs of CTAR and legal fees for their clients when they are members of Investigative Techniques, Inc.
Answer
Bobby,
The assistance you provided on the California claim, was most valuable. I know our client was pleased to know that while he contributed, he was not entirely at fault. This will be more important in his upcoming renewal.
After 26 years in this business, I have learned that very often the blame is placed on the trucker, when in actuality it should not have been.
Too often, the economics of "getting out of a claim" for as little as possible, leaves a mark on that trucker's insurance record that he will carry and years to come.
The imformation you provided us has been very valuable. I would encourage everyone to check it out for themselves, especially if they drive truck for a living.