Question
Today I was advised by a couple of my insurance markets to expect to see increases in premiums quoted coming very soon.
Apparently, what seems to be happening is that some insurance companies are re-structuring their rating. What that means to you is that a particular credit that was once 10% for a clean MVR may now only be 5%. The "rate" is actually the same, but the premium to you would be higher.
I suggest that if you are in the market for truck insurance and have recently received a quotation, that you contact the agent and get them to confirm how long the quote if good for.
This should help to eliminate any last minute surprise in this area.
Answer
Hey Connie how's it going? You feeling increases too huh? I can't pick up a trade magazine be it for truckers or insurance that doesn't have an article or two about the increases in trucking insurance.
This is really going to put a damper on the industry and you are right to let everybody know about it. Sharpen your pencils everyone the industry is going to toughen up! Mel