Question
Connie, I am wondering if I should change insurance companies. We have been with the same insurance company since we purchased our truck/trailer in January of 1999. We have a:
1997 Freightliner FLD 120 valued at 9,000
1997 Fontaine 8 axle Flatbed Trailer w/side kit and tarp valued at 16,000
Our policy reads:
1,000,000 Non Trucking Liability and I have 1,000.00 deductible.
My husband hauls coil steel and we have no cargo insurance as of yet. My husband had a not at fault accident in Feb. 1999 where a lady hit him head on. The insurance company was prompt in settling our claim and I was very happy with them. He got a red light (disobeying traffic signal) ticket in Feb. 2001. (I know--not good! His ears are still ringing from me "telling" him what I thought of that!) Ha ha We were paying 111.00 a month on both the truck and trailer for insurance. I do not believe that they are aware of the red light ticket as I have never notified them. I received a letter last week stating that because of the September 11th disaster that our new premium would be 176.00 a month with the same coverages except they would no longer offer glass breakage as a benefit. The insurance company is Transportation Insurors and my policy is through Lloyds of London and Union America. Is this "slight increase" (their words--not mine!) the going rate for the type and amounts of insurance that I have? If I change companies I will have to notify them of the red light ticket so my premium will be higher. Thank you in advance for any help you may be able to give. ptruckin
ptruckin
Answer
TLP,
Insurance premiums have been on the rise for nearly 2 years. The 9/11 disaster will have an impact that we all will eventually feel.
I undersand how shocking it is to get that kind of notice.
Based on the information you provided, there are several issues that I think you need to explore before making a change and I do believe I can offer you some direction, however as some of this would involve confidential matters, it may be best if we could talk by phone or email me personally.
You can reach me at 800-933-7911 if you care to discuss this further. I'm in the office from 7am to 4pm Mountain Time.