What is the most affordable and best insurance for a new venture

OOIDA? I have heard they have pretty good rates!

 

OOIDA's insurance does not have a rating and alot of brokers won't accept it, we have ours through Raymond Nelson in Hopkinsville, Ky, and are insured with North Land, we shopped around this year to make sure we weren't paying to much and ever place we checked with it was twice as high, ask for Linda Wood and tell her Saddle Up N Go Transport sent ya.

 

Don't worry your phone is going to ring off the hook in .... 5 .... 4 .... 3 .... 2 .... 1

 

I was in the same boat. I started getting quotes before applying for my authority. Once I applied the phone started ringing. I was also hesitant to go with those calling but since I was having a hard time finding insurance I gave a couple of them a shot. I ended up going with Guardian out of Louisianna. Call Carla. She worked really hard to get me what I needed.
be careful of going with companies that are "Risk Retention Groups" they are not technically insurance companies and some brokers will not accept them.
As new ventures our options are limited, Hallmark, Lloyd's, Canopius, Progressive, etc.
Feel free to let me know if you have any other questions. I did quite a bit of research (not saying I know it all lol) and would be glad to help.

 

We had to go with Progressive through a local agent who we never heard of but it has worked out really well. For one truck and 3 trailers, and $100,000 cargo coverage and $1 mil liability, we are paying roughly $9600/year. Now that is a brand new operation with 2 drivers with 3 years experience each. Both under 30 years old. Every other quote that I got was between 16k and 20k/ year. We have not had a problem getting setup with any brokers yet. Hopefully after a clean year in business, we should be able to get that down to about $6500 according to our agent. Good luck

 

be carefull with Progressive you maybe only covered for a 300 mile radias, better check on this, allot of small companies have found out the hard way, do a search in the forms, a driver from Chicago area i believe it was, was getting hit for thousands because he was operating over 300 miles under them. Good luck

 

one time i called progressive. they didn't offer in utah. unlike their commercial always states. that was last year. don't know if they changed that since then.

it may have had something to do with that 300 mile radius though. can't remember.

 

i am not able to get any insurance, because my cdl is 6 month old. Progressive gives only 500 miles in NY.