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New Authority Insurance quote....

Discussion in 'Ask An Owner Operator' started by nikmirbre, Jul 5, 2021.

Page 1 of 7
  1. Jul 5, 2021 #1
    nikmirbre

    nikmirbre Road Train Member

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    High Point NC
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    I received a quote and im kinda confused...this is from progressive...

    1st year was $14697 for the 1st year I didn't think that was too bad however, Like when you break down the coverages it seems kinda high.

    $2000 of that amount was for the 100k cargo and 1mil liability.
    Almost 13000 is just coverage for the truck and trailer insurance coverages.

    Leased onto where I am now I pay roughly 7-8000 per year for my truck and trailer insurances.

    Does this seem correct? Im gonna try a few more quotes this week.
     
    nikmirbre, Jul 5, 2021
    nikmirbre, Jul 5, 2021
    #1
    feldsforever Thanks this.
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  3. Jul 5, 2021 #2
    RunningAces

    RunningAces Road Train Member

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    A little below average for your first year which is probably around $17k or so if I had to guess. If you've got great credit and live in bfe progressive can be quite cheap for a first year. If you live in NY or FL and have #### credit you'll be at like 20k.
     
    RunningAces, Jul 5, 2021
    RunningAces, Jul 5, 2021
    #2
    Vampire and nikmirbre Thank this.
  4. Jul 5, 2021 #3
    pavrom

    pavrom Road Train Member

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    NE illinois
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    Its ok i think for 1st year , can have 22k next year for no good reason with clear safety , no tickets or claims ...or can be 11k ....thats how progressive works ...get ready . I had same story , next year 30% more , i called agent for explanation - just prorated !
     
    pavrom, Jul 5, 2021
    pavrom, Jul 5, 2021
    #3
    feldsforever and nikmirbre Thank this.
  5. Jul 5, 2021 #4
    Rubber duck kw

    Rubber duck kw Road Train Member

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    Dec 9, 2017
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    For a new authority I don't know of any other company that'll even take you on. I was stuck with them for the first 2 years as nobody wanted to insure anybody under 23 either, Great West wouldn't even quote me anything until I turned 25. I ended up around 13k a year for 1 million liability and 50k worth of cargo coverage.
     
    Rubber duck kw, Jul 5, 2021
    Rubber duck kw, Jul 5, 2021
    #4
    Vampire, feldsforever and nikmirbre Thank this.
  7. Jul 5, 2021 #5
    nikmirbre

    nikmirbre Road Train Member

    5,376
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    Jul 27, 2011
    High Point NC
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    Yeah im not sold %100 on progressive because this was just an online quote, I don't think they ran my MVR(which is 0 accidents/tickets) or checked my credit(which is also good). Ive been an Owner op 20 years.
     
    nikmirbre, Jul 5, 2021
    nikmirbre, Jul 5, 2021
    #5
  8. Jul 5, 2021 #6
    RunningAces

    RunningAces Road Train Member

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    Iirc as far as progressive is concerned it's still your first year if you're getting new numbers. #### the online quotes, call them for something more solid.
     
    RunningAces, Jul 5, 2021
    RunningAces, Jul 5, 2021
    #6
    nikmirbre Thanks this.
  9. Jul 5, 2021 #7
    nikmirbre

    nikmirbre Road Train Member

    5,376
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    Jul 27, 2011
    High Point NC
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    Yeah it was an online quote and then I spoke to someone to verify some of the coverages. But, nothing was said as far as running and MVR or credit check.
     
    nikmirbre, Jul 5, 2021
    nikmirbre, Jul 5, 2021
    #7
  10. Jul 5, 2021 #8
    pavrom

    pavrom Road Train Member

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    Apr 29, 2012
    NE illinois
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    Try Berkshire , they used to be one insuring new entrants
     
    pavrom, Jul 5, 2021
    pavrom, Jul 5, 2021
    #8
    nikmirbre Thanks this.
  11. Jul 5, 2021 #9
    nikmirbre

    nikmirbre Road Train Member

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    Jul 27, 2011
    High Point NC
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    Yeah I put an inquiry online and expect a call tomorrow with them
     
    nikmirbre, Jul 5, 2021
    nikmirbre, Jul 5, 2021
    #9
  12. Jul 5, 2021 #10
    staceydude

    staceydude Road Train Member

    1,143
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    Apr 3, 2020
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    One of the things I found with Progressive is they will quote and sell a policy as if you are staying within 500 miles of home domicile. My first quote was like $16k, I looked it over really closely and saw the 500 mile deal and I told them no way will I stay within 500 miles of home. So please quote it like I am going to all 48 states. Well they came back and raised me to $23k (I Paid cash so it dropped to $19k and this quote was also with a GL policy) that is with a good credit score but again new authority. I also live in Dallas Forth Worth metro mess so I am sure that hurt a bit.

    I am up for renewal in early Sept, so I will start my new quote as soon as I get back from next trip. Plus I’ll have my last quarter IFTA done etc.

    We will see what it is. My agent has been great with COI etc been getting a lot of insurance emails lately. Hopefully it drops a bit as I actually r]tend to drive some pretty chill areas although I do Florida a few times.
     
    staceydude, Jul 5, 2021
    staceydude, Jul 5, 2021
    #10
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