Insurance for brand new interstate carrier? Please

14-17k per year for one truck and trailer

 

^^^^^ what he said. Now consider you'll be competing against established carriers who might only pay a third of what you do. Megas self insure. And lots of desperate new carriers paying the same or more than you. The high cost of insurance is probably the only real barrier to entry we have in this business.

 

Your insurance rate will depend on a lot of things. First and foremost is what state you're based out of. If you're just doing rough numbers, use $20k per year, each truck, to be on the safe side. Experienced companies the same size are typically paying $5-8,000 a year/truck.

 

I don't think the brand new MC part will play a whole lot in the rate as much as your driving history/experience and your credit record along with your location. Those 3 things are major determining factors. When I first started with my authority it was $5500/yr granted I have a 500 mile restriction. Are you looking to hire those drivers right off the bat or just starting out with you and your truck for now?

 

You can have 20 years driving experience, but new MC will get u a high insurance rate. 500 miles radius can work if you live in IN for example, but not if you live in the dead area. In MI Progressive with 500 miles radius will still cost at least 8k

 

Not complaining, guess I was the exception

 

Yup, I wish it was based on experience. Was Progressive your only option, or did you gt any quotes from other companies? In MI right now its basically just Progressive or Berkshire for new MC's, nothing else (Amerisure if you have more than 5 trucks)

 

Pretty much the same in NY. I had 2 other quotes that were double Progressives. The 500 mile limit hasn't been to much of an issue for me.

 

I'm with Progressive, unlimited radius and when I first got MC number, my insurance for 1,000,000 liability 100,000 cargo, it was 5700 per year.