Question
Ok call us crazy but we want to add another truck to our fleet of one.
Truck #1 is leased to a good stable company and we are not looking to change that, at least not right away. Insurance is purchased through this company but that is not necessarily how we will keep things.
Truck #2 at this point we are not sure how we want to go. There are several options we are tossing around. 1 is to lease on with same company as truck #1. Another is to get our own authority and establish our customer base {which we have already started researching} with truck #2 while leaving truck #1 leased with said company and using their insurance. This option will require adding a trailer as well.
Yet another option is to get insurance for both trucks with an insurance company.
Are there advantages to putting all our eggs in one basket? Are package deals really that, deals?
I guess the biggest most important and only question is where do we shop? Who do we contact? Mercedes holds the note on truck #1 and I understand they offer insurance but I am not sure if their rates are competitive.
I really just need to know where to look, who to call, where to start shopping. We have time, our goal to own another truck is not until spring. Thanks for any and all assistance.
Answer
Start with the internet.
Do a search on "truck insurance" and start checking out the finds. Select 2 or 3 agents and give them the exact parameters for insurance coverage, then let them do the work. Be sure to compare apples to apples.
Most importantly, talk to other truckers and see what they have to say about their insurance agent.
Word of mouth is the best source.
Good luck,
Connie
Answer
I'll be so bold as to say... Call Connie, she saved my about $700.00 a year on my new truck that I'm buying over the insurance co. I had my old truck with.
I would suggest getting your own insurance policy, separate from the company you are leased with, especially if there is a chance you might be pulling the lease any time soon. Once you leave the company, your truck is no longer covered. If, for some reason, the company pulls your lease, your are not covered. I would feel a lot better knowing I paid the insurance bill every month, than to hope everything is being taken care of by the company, only to find out you didn't have enough coverage when you needed it.
Bigger companies can get better rates, but not always. It depends on the total claims the company has turned in. Your rates might go up because someone else had a bad wreck. It doesn't hurt to shop around.
Truck safe.
I like all dogs I meet, and some people too. I like all dogs I meet, and some people too!!
Answer
Guardrail,
Thanks for the kudos, but everyone needs to remember insurance is specific to the operation. When the insurance history, driving records and experience are all good, it makes it easier for the agents to get more competitive premiums.
Connie