Truck insurance, full coverage. What are you paying?

Discussion in 'Business Operations' started by Eddie B, Jun 16, 2005.

  1. Eddie B

    Eddie B LawnSite Senior Member
    from gone
    Posts: 859

    What are you paying to insure your truck/trucks? Who is your insurer? I'm paying $4,344 a year for full coverage on a '92 2500 pickup with Nationwide. It seems like I'm paying too much. Age makes a big difference too I guess. I'm young.
     
  2. A+ Lawncare

    A+ Lawncare LawnSite Senior Member
    Posts: 503

    Bailey..

    i was payin around $2k for insurance on my ranger b4 the accident (17 y/s old), i have no idea what it will be now... :fearful: of what it may be now!

    but $4k for truck insurance sounds outrageous
     
  3. Scapegoat

    Scapegoat LawnSite Member
    Posts: 249

    $1032 a year, full coverage on 97 F-150 (8cyl). State Farm.
     
  4. A+ Lawncare

    A+ Lawncare LawnSite Senior Member
    Posts: 503

    I think bailey would be better off gettin basic insurance if his insurance is $4k a year... a '92 2500 series can be had for about $5-6k
     
  5. GrassBustersLawn

    GrassBustersLawn LawnSite Senior Member
    Posts: 983

    BAILEY

    Dump the "full coverage"...COMPREHENSIVE (fire & theft) & COLLISION (collision...duh!) on a 1992. No reason to carry it on a truck that old. Insurance is on ACTUAL CASH VALUE BASIS and the ACV on a 92 truck is going to be about $2,000. Just carry LIABILITY on a car/truck over 7 or 8 years old.

    I have 2 trucks...2001 F-150 & 1998 F-250...I still have FULL COVG on both...costs me about $1538 PER YEAR for $1 million liability & $250 Comp & $500 Collision deductibles. Insurance goes by TERRITORY RATING...and you are out there by all the EAST COAST CRAZY PEOPLE in NY & NJ & MA, so I'm sure that is part of the reason yours is so HIGH!

    Mike
     
  6. Eddie B

    Eddie B LawnSite Senior Member
    from gone
    Posts: 859

    The truck is being financed, so I must have full coverage. A+ Lawncare, at age 17 you are covered under a parent name. at age 17 I was paying 2,300 per year under my parents, same company. I have a history of 1 faulty accident, 1.5 years ago, which would also cause a price increase. They just increased my insurance $950 more per year, never told me why. I'm looking for a cheaper way out of it. The truck has ran into $5,200 in repair costs since purchase, and is worth a lot to me now with all the new parts (engine, tranny, front end, etc.)

    Kelly blue book values:

    Trade In= $4,050
    Private Party= $5,405
    Retail= $6,850

    Its an extended cab 3/4 ton
     
  7. RedWingsDet

    RedWingsDet LawnSite Gold Member
    from Detroit
    Posts: 3,556

    im 17. gotta 01 chevy 2500hd, its in my name, not parents so its even more... but its 2400 a year for full coverage with 300 deductiable. not to bad for being 17 imo
     
  8. Eddie B

    Eddie B LawnSite Senior Member
    from gone
    Posts: 859

    Who is the insurer?
     
  9. RedWingsDet

    RedWingsDet LawnSite Gold Member
    from Detroit
    Posts: 3,556

    state farm....

    and on my old ford I had, it was only like 90 a month for plpd. that was saweeeet, but i got in an accident and they didnt cover it...

    but ya I have state farm on my chevy
     
  10. RedWingsDet

    RedWingsDet LawnSite Gold Member
    from Detroit
    Posts: 3,556

    oh and if you get a 3.0 it deducts money off too.... and last quarter I gotta 3.1, which is really good for me, so I saved a little cash there... nonetheless, if you get a 3.0, you save cash, so let your insurance co. know.
     

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