Question
Got a question about insurance for my truck, it is called Deductible Buy Back Insurance at $57. dollars a month, I have never noticed this before, $500 deduct. $15,000 per occ and $5,000 for liability,cargo, and trailer. Also physical damage is being charged on a percentage, 4.5% of 1000, paid weekly, company before charged 35-45 and bobtail is being charged at 32 per week compared to 9 per week seems kind of expensive compared to the other company. A quick rundown of what company requires me to have then I would like someone elses opinion on it also please, physical damage, deductible insurance, bobtail insurance, License then the usual fuel&mileage tax and 2290 form. If there is anything else I should consider adding would appreciate any additional info, thanks.
Answer
Thos,
After reading your post several times, I'm still a bit confused.
Please confirm the following:
Deductible Buy Back Insurance = $57 per month
Physical Damage at 4.5% per $100 of value
Bobtail = $32 per week
Is the $500 deductible on the Physical Damage?
What coverage is $15,000 per occ and $5,000 for liability,cargo, and trailer referring to?
If the above are all requirements of the motor carrier, am I correct in assuming you are having all these coverages deducted from your settlement?
I await your reply.