Insurance options for drivers with accident on insurance pay out report, but not on driving record?

Progressive is the cheapest,you'll find.
Probably time to go to a mega,who are self insured.
Plan on 5 years,clean record,to get your rates lowered.
Keep you license clear,at all costs,hard lesson to learn..good luck.

 

Wont matter what insurance company you go to, they will be able to pull the accident up. Cant hide anything from an insurance company.

 

All the large trucking companies are self insured,rather than personally insuring 20,000 drivers,they just put the money aside to cover accidents.
Your going to either pay the high premiums,or become a company driver,for swift,schneider,etc,who can afford to take the risk of insuring you.

 

^^^^^^^^
Sounds like a Mega recruiter.........

Remember a lot of info/feedback you get on a forum is FREE, and what you usually receive is worth exactly what it cost you.....nothing.

As a company underwriter, if Progressive is going from $ 12K to $ 48K what they are really telling you is that either due to your loss (how much was it?), a mvr related issue (CDL length of time?), rapid growth (Progressive doesn't like rapid growth) or FMCSA issues, they no longer want your business.

JUST having a loss can generally impact your pricing by 30-40% depending on the carrier.......you will be losing any "good driver" credits you may have had and then getting hit with a "loss" debit......but just having a loss on your loss run, or on your mvr doesn't preclude you from reasonably priced coverage......will it be cheap cheap.....no YOU had a loss so YOU'LL have to pay more.......have your retail insurance producer/agent really search the marketplace.....you do and will have options other than Progressive.

 

Does the insurance try to recover the cost of whatever type of loss within the coverage term by increasing your premium or do they just increase your risk for the next term?

 

Nothing can be done "mid-term"....adjustment have to be done on renewal........typically it's application of a set value for a loss......we use 3 points for a chargeable accident....which typically equates to a 10-15% debit to pricing. The big hit is losing any clean driver credit.......our max for clean driver is 23%....so you lose that plus the point debit and it's a big hit.

I don't know of a carrier that actually tries (or can legally) to get back in premium, what they pay in losses......NO state insurance department would stand for that, and candidly it's too competitive of a marketplace to take that kind of position if you want to write any business.

 

Thanks.

 

@calnca
Another Q.

Besides driving records, policy factors, and length of experience. What factors would have an effect to the pricing in terms of the tractors age, model, and milage? Also, would the type of work the tractor would be hauling cause the price to vary as well?