Question
We have been feeling the pain of higher insurance, high fuel prices, driver retention, uptight customers, high priced equipment ect........ --- we currently run anywhere in the united states ---- we are always looking for ways to become more efficient, would we save much on insurance by switching to a 300 mile radius of our home state of Iowa ------- there are good/bad reasons for doing this and we are trying to mold our business to be as profitable as possible to survive.
Answer
With a 300 miles radius, you may see some savings. The amount may vary depending on the insurance company. However, it is important to know whether your insurance company provide a "strict" radius limitation meaning should you be beyond that limit, losses would not be covered and how they calucluate the 300 miles. Is it airmiles or not?
Be sure to ask those questions as they could have significant bearing on your coverage.