Pay as you go insurance?

I think @rollin coal company works like this so guessing it happens in trucking. But not for one truck outfits yet?

 

I really doubt there are commercial insurance companies who offer something like that. You need active insurance all year round to maintain active MC.
I heard though, that people drop cargo and physical for few months, only keeping liability active, but something like this is an option only for one man and a truck only

 

I have had insurance set up like this where I was leased before.(only cargo and liability.) They charge so much per hundred miles. It ok if you are parked for a period of time or don't work much.

I never liked it when you would bust ### for a while only to have to pay more.

 

Pay-As-You-Go Insurance: How Does It Work?
OnStar Insurance Discount Helps Lower Insurance Rates
Pay-As-You-Go insurance is an auto insurance program that adjusts rates based on the number of miles you drive. Commonly known as a mileage discount (or usage-based insurance discount), Pay-As-You-Go insurance awards those who drive less with substantial savings on their premiums.

 

I wish!! And it is all connected so that if we get hurt and want to suspend services to get massive insurance premium refunded then when we come back we look like new carriers AND are lumped in with people who GOT PUT out of service for whatever reason. It costs real money and I have never seen OOIDA or NASTC mention it. Honestly, if you go accident free for 20 years on a car or truck policy you should get a big fat refund! The insurance companies are holding billions and billions of dollars!

 

The company I'm leased to only pays cargo insurance based on the miles an individual truck runs. If my truck runs zero miles in November and December they owe their insurance company zero for cargo insurance on my truck.

That's why they don't charge back the cargo insurance to me. It's covered by the percentage they take and if I'm parked for weeks on end I'm not costing them any insurance money.

Keep in mind this is a fleet that has been in business for 20 years. And most of those trucks are running 48-50 weeks out of 52 a year. The insurance company makes its money for sure. For you as a one truck guy it's doubtful you will find any insurance company offering you an arrangement like this. One truck operations always pay the most. Your only option is to drop coverage if you take off work for extended periods. You're better off imo just to pay and keep the coverage always. It's a cost of doing business. Cover it.